Top 3 Mortgage Predictions for 2021

I think we’ll all remember 2020 as one of those years where everything was pretty terrible: COVID-19, racial unrest, massive layoffs and furloughs, Kobe Bryant’s death, and a drawn-out, contentious election. By the way, whatever happened to those murder hornets?

On the positive side, there were stimulus checks and the lowest mortgage rates we may ever see. So what’s on the horizon in 2021? Here are the Top 3 mortgage-related events you can expect:

  1. Expect a bustling housing market next year. Demand will be high while inventory will remain low, unless a higher-than-predicted number of sellers put their homes on the market, which is entirely possible.
  2. Expect a small uptick in mortgage loan rates. With higher demand this is inevitable, but no one expects it to be very much of a bump. 2021 will still be a great time to buy and refinance. Right now, mortgage rates are at an all-time historic low.
  3. Expect the FHFA to increase its baseline loan limit in 2021 to $548,250. That’s up from $510,400. The high cost limit also jumps, from $765,600 to $822,375.

Given all the activity we expect in the coming months, now would be a great time for you to reach out and have a call with me to look at your options and set you up for a purchase or refinance.

Ready to buy a new home or refinance the one you own? Please get in touch and I’ll be happy to answer your questions and help guide you through the process. I look forward to speaking with you.

What Do You Know About Snow?

Looks like we’re in for a snowy holiday season! Here are a few things about snow you may not know about.

  1. It’s a myth that no two snowflakes are alike. in 1988, a Wisconsin scientist identified two identical flakes from a winter storm.
  2. In a snowstorm at Fort Keogh in Montana, the largest snowflake ever recorded was 15 inches wide.
  3. Each winter in the US, at least one septillion ice crystals fall from the sky. 1 septillion has 24 zeroes. That’s a lot of snow!
  4. The most snow in a 24-hour period happened in Colorado in 1921, when they saw over six feet of the white stuff in a day.

December Home Improver: Keep Your Home Free of Pet Odors

But one thing we don’t love is the lingering wet dog smell that remains long after your pet warms up in your home. Cats present their own indoor odors, especially around litter boxes. We wanted to share our best tips to reduce unwanted pet odors in your home.

  1. To reduce odors from rugs and carpets, be sure to sprinkle some baking soda before vacuuming. This will neutralize the odors and leave your room fresher.
  2. Clean your pet’s ears. If you are experienced at this, the effort is worth it. If not, set up an appointment to have your pet’s ears cleaned, which will remove unwanted scents from dog and cat beds, your sofa and carpets.
  3. If you clean your litter box regularly but the smell is still noticeable, try moving it to another room either upstairs or in the basement. Another tip: keep it in a well-ventilated room.
  4. Try an unscented cat litter with baking soda. Sometimes the fragrance of the odor-masking litter is just as offensive as the used litter itself.