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b'With\\xa0Terry Story (http://www.terrystory.com/), 25-year Veteran Real Estate Agent with Coldwell Banker in Boca Raton, FL



With almost sure signs of an interest rate hike in 2015, the housing market continues to stay strong with mortgage applications up 11% and refinancing up 17% as people move to cash in on low mortgage rates before they go up. There\\u2019s a line of buyers and a shortage of supply, and recent stock market volatility appears to have unfazed home buyers.

So there is strong demand for new homes to fill the inventory gap\\u2026 but builders don\\u2019t appear to be ramping-up supply because profit margins on lower end homes aren\\u2019t compelling enough for builders who remain focused on higher-end luxury homes.

Federal Housing Administration home loans are getting a tuneup, with many changes going into effect Oct. 4. Under new rules, potential borrowers will likely save thousands at closing. But those monthly mortgage payments will be a little higher.\\xa0 Terry talks about the new rule that is easier for consumers to read and understand, but could disrupt and extend home closings \\u2013 so buyers and sellers should plan on some turbulence as these new rules settle into the home buying ecosystem, and pick lenders that can handle this transition.'