According to Ellie Mae’s latest Origination Report, the average FICO® Score on all closed loans dropped to 722 which is its lowest mark since April. The average includes all approved refinance
Do Not Chill During The Winter
A lot of buyers chose to wait until the spring to begin aggressively looking for their home. However, that can be a mistake. With the competitive Northern Virginia home market, prices, competition, and interest rates tend to increase. There are fewer homes on the market during the winter. However, there are also fewer buyers looking.....meaning less competition for you. Sellers love to see qualified buyers looking at their home during the off season. Lenders also have sweet deals for you this time of the year. If you are on the fence I encourage you to consider sooner versus later. Northern Virginia is a hot real estate market. Don't wait until everyone else is out looking. The one that wins does the opposite of the masses!