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December 19th, 2013

10: Buying a new home when you haven’t sold the old one

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int rate lockTowards the end of each year, HSH.com features the 10 most popular pieces of content from that year. Just like the last few years before it, 2013 has been an interesting time for the mortgage and real estate markets. Mortgage rates fell to near-historic lows in 2013 and then subsequently rose over a percentage point above those yearly-low levels.

This year, we’ve seen changes to Fannie and Freddie, the refinance wave has crested and broke and the Federal Reserve has just announced the beginning of the end of its long-term plan to keep interest rates low.

Without further ado, here is number 10 on our list:Buying a new home when you haven’t sold the old one.”

Like much of the content on our top-10 list this year, “Buying a new home when you haven’t sold the old one” was not written in 2013, in fact, it was written several years ago near the height of the housing crisis.

“Buying a new home when you haven’t sold the old one” is symbolic of the change that took place in the wake of the Great Recession: something that was once easily accomplished in the real estate market was now ostensibly more difficult and precarious, putting homeowners and homebuyers in a difficult bind that they may have not faced before.

Excerpt:

There are many reasons why you might need to buy a new house while your old one’s still on the market — you want to make the deadline for the $6,500 tax credit for repeat home buyers, your job has been transferred or you just found the perfect house and don’t want it to get away. However, thanks to the housing crisis, it isn’t as easy to get financing for this kind of transaction as it used to be.

Be sure to read “Buying a new home when you haven’t sold the old one” in its entirety.

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2 Responses to “10: Buying a new home when you haven’t sold the old one”

  1. Junaid Ahmed Says: December 24th, 2013 at 3:55 am

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  2. 6. How mortgage insurance works | Insurance News Depot Says: December 26th, 2013 at 3:43 am

    [...] 10: Buying a new home when you haven’t sold the old one [...]

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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