What's New This Month
Wow, we’re already halfway done with February! January kicked off the new year with a bang, and we are excited to see what’s next for the real estate industry. There is much to celebrate, including our great state ranking in the Top 5 of places people are moving to, as we transition into the second month of the year. 

Our team at West Virginia Bankers Title is honored to help our attorney and lender friends in every way we can. We hope you enjoy our latest e-newsletter that highlights some of the exciting and innovative news from the real estate industry.

Lastly, we would like to extend a warm and heartfelt thanks to the loan officers, attorneys and Realtors who trust West Virginia Bankers Title with your transactions and title insurance products. We love what we do - helping and serving you!

Have a great month!

Bob Drummond, Vice President/Agency Manager of West Virginia Bankers Title
Mortgage Rate Increases
The change in mortgage can be a mixed bag for real estate professionals, but rates are the highest they’ve been since May 2020. As DS News puts it, these numbers will likely spark motivation for buyers and accelerate competition in the housing market. Also, the interest rate on a 30-year fixed mortgage rose during the first week of January from 3.11% the prior week. Again, that’s the highest level since May 2020. 
Home Price Appreciation Continues to Accelerate 
For many prospective homebuyers, the housing market will continue to intensify this coming year, according to DS News. Frank Martell, President and CEO of CoreLogic, describes this year as “another strong year with continuing upward price growth.” Nationally, home prices increased by 18.1% in November 2021 and are projected to continue growing. 
Alanna McCargo Officially Named Ginnie Mae President 
Alanna McCargo was sworn in as Ginnie Mae’s 18th President. McCargo was recently sworn in by the U.S. Senate, where she read the oath of office by Marcia L. Fudge, Secretary of the U.S. Department of Housing and Urban Development. Before taking on this position, McCargo was Senior Advisor for Housing Finance to HUD Secretary Fudge. Reflecting on her excitement, McCargo says, “I look forward to working with the team and Secretary Fudge to strengthen Ginnie Mae’s impact and advance our important mission.”
Mortgage Trends
Professional Development
Market Highlights
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