The Next Chapter In The Real Estate Industry
The excitement about sub 4% rates in the last quarter of 2014 is over; it’s a new year and that means new forecasts in a market that is constantly evolving. Mortgage analysts predict we’ll see steady rates that will hold at 5%, an increase in property purchases from international buyers and more lenient down payment requirements.
Freddie Mac predicts that mortgage rates will eventually hit 5% for the 30-year fixed home loan. The Mortgage Bankers Association reported similar results. Despite the numbers analysts caution that rates will vary from one consumer to another depending on their credit history. A buyer with a high FICO score and low debt to income ration can expect a lower rate than someone with a lower score.
Other lenders expect rates for a 30-year fixed to stay under 4% for most of the year. Inflation pressure is on the lower side of the scale in part due to lower oil and gas costs. Global issues are also expected to affect the housing market. Many international investors are flocking to the U.S market in order to acquire safer assets which will bring more money into the economy. Foreign buyers are more likely to purchase high end and luxury properties.
Credit requirements may also be significantly more lenient in the next twelve months. Current buyers who obtain a FHA loan have a median score of 682 while those who go with Fannie Mae or Freddie Mac have an average of 755. In order to make home buying more accessible Fannie Mae and Freddie Mac have plans to lower down payment requirements to 3%.
Why Use AMPI?
AMPI is the national association of real estate professionals that have, since 1956, gathered under laws and codes of ethics and conduct to create a reliable, trustworthy an efficient real estate environment in Mexico.
AMPI consists of separate autonomous sections all throughout the nation, as well as more than 4,000 associates and affiliates.
Each section is independent and has its own board of directors, only surpassed by a national board of directors comprised of twenty associates from all over the republic.
Developed over the years with the
input and knowledge of its members, AMPI is much more than just a collection of offices.
AMPI has been a solid and recognized institution in Mexico for the past 27 years. It was originally established in 1956 and was consolidated in 1980.
AMPI is currently represented in all the principle cities and regions of Mexico stretching from Tijuana to Cancun.
The Riviera Nayarita, Vallarta and Compostela chapters of AMPI are dedicated to promote the best practices in real estate by providing its members with education to reinforce the standards of ethics that give our industry the credibility which our clients deserve.
AMPI is committed to giving our membership access to a multiple listing service that forms the platform from which our industry can expand locally and into other markets while giving our members precise and up to date information that is vital to continuous improvement and growth.