Rates
Mortgage rates for conforming loans are good. The home buyer with a large down payment can expect (today) a rate in the high 5's or low 6's, depending on credit score. Lower down payment or lower credit score, or both, affects rate.
The biggee, as far as I am concerned, is that mortgage funds are readily available for the qualified buyer. Underwriting rules are not changing as often as they were earlier this year.
Overall, I would call the environment good for the qualified prospective homebuyer.
Credit Repair
Seems to me that I am seeing more and more about "credit repair" services. The idea seems to be to legally remove whatever can be legally removed from one's credit report. The reputable firms emphasize that they remove items both by catching errors and by catching reporting technicalities. Removing an accurate account by a technicality does not remove an obligation to make good on that account.
My understanding is that there have been many genuine success stories from these services. For those who don't mind paying the up-front fee, credit repair service may be worth looking into.
That said, a good, patient customer and a good, patient loan officer can remove errors and genuinely help improve credit quality.
I am happy to speak with motivated clients who might not qualify for a mortgage now but wish to become homeowners as soon as they can.
Rentals
Changes are coming to pricing on rentals. Single family and duplex pricing will go up for buyers with less than 25% down.
Also, expect to see some tighter underwriting on rental purchases.