Homeowners Living Farther From Their Work
The typical American commute continues to get longer and longer. The average commute time grew to 26.4 minutes, according to the latest numbers from the U.S. Census Bureau. Multiplied out, the average...
View ArticleMortgage Rates Move Lower This Week
Mortgage rates broke a month long holding pattern and inched lower this week. Freddie Mac reports the following national averages rates for the week ending March 2: 30-year fixed-rate mortgages:...
View ArticleHow Will Housing Fare In the Next Decade?
Housing demand over the next decade will be significantly higher than it is today, predicts Lawrence Yun, the chief economist of the National Association of REALTORS®, in his latest column at...
View ArticleHome Loan Interest Rates Hit 2017 High
For the first time in weeks, the 30-year mortgage rate moved with treasury yields and jumped 11 basis points to 4.21 percent. The strength of Friday’s employment report and the outcome of next week’s...
View ArticleThis Could Boost Millions of Credit Scores
Equifax, Experian, and TransUnion announced they will soon remove tax lien and civil judgment data from some consumer credit records. The reason for this change is that many liens and most judgments...
View Article‘Energy Efficiency’ Weighted More in Appraisals
Energy efficiency scores will soon be included on appraisal forms in a handful of states. Builders are applauding the change, saying that will help give more credit for energy-saving features. The Home...
View ArticleMortgage Rates Retreat Slightly This Week
The 30-year fixed-rate mortgage decreased slightly, following two months of steady rises. “The 30-year mortgage rate moved with Treasury yields and dropped 7 basis points to 4.23 percent. This marks...
View ArticleThis Is the Worst ‘Housing Drought’ Ever
The number of homes for sale is at the lowest level on record, according to the National Association of REALTORS®, who began tracking inventory 18 years ago. That means many home buyers likely will...
View ArticleHispanics Are a Growing Home Buying Force
While the national homeownership rate decreases, ownership rates among Hispanics are defying the trend with steady rises. The Hispanic homeownership rate grew to 46 percent last year, topping previous...
View ArticleHome Loan Interest Rates Got Cheaper This Week
For the second consecutive week, average mortgage rates fell, lowering the borrowing costs. “The 30-year mortgage rate fell 9 basis points to 4.14 percent, another significant week-over-week decline.”...
View ArticleHome Prices Blamed for Student Loan Defaults
The housing crisis may also have sparked the increase in student loan default rates, according to a working paper by the National Bureau of Economic Research. The study says the drop in home prices...
View ArticleStudy: Millennials Hold Off on Big Life Choices
Baby boomers and millennials have different attitudes when it comes to marriage, children, and home ownership. Researchers with the National Center for Family and Marriage Research at Bowling Green...
View ArticleMortgage Rates Set a New 2017 Low This Week
The 30-year fixed-rate mortgage continues to drop this week, setting a new low for 2017, Freddie Mac reports in its weekly mortgage market survey. For the fourth consecutive week rates have fallen....
View ArticleHome Loan Interest Rates Drop Below 4%
The 30-year fixed-rate mortgage has fallen to its lowest average since November 2016, Freddie Mac reports in its weekly mortgage market survey. “Weak economic data and growing international tensions...
View ArticlePoll: More Expect Home Prices to Keep Rising
Sixty-one percent of U.S. adults believe home prices in their local area will rise over the next 12 months, the highest percentage since Gallup began collecting such data in 2005. Marking a difference...
View ArticleThe Housing Market Is Outperforming Forecast
The housing market has been off to a roar this spring. In fact, the market is performing so strongly that the National Association of REALTORS® has upgraded its forecast for the year. At the start of...
View ArticleHome Loan Interest Rates are Barely Moving?
Mortgage rates were mostly in a holding pattern last week, which may have been welcome news to borrowers after the previous week’s uptick. Freddie Mac reports the following national averages for the...
View ArticleMortgage Rates Stuck in Holding Pattern
The 30-year fixed-rate mortgage continues to hover around 4 percent for the fourth week. Freddie Mac reports the following national averages for the week ending May 11: 30-year fixed-rate mortgages:...
View ArticleRenters Admit They Favor Home Ownership
Seventy-two percent of renters “prefer” or “strongly prefer” to own a home rather than rent one, according to the latest SCE Housing Survey conducted by the Federal Reserve Bank of New York. Nearly 56...
View ArticleHomeowners Cash in on Equity in Droves
Homeowners may be reluctant to sell, but they still want to see a piece of that equity in their homes now. They’re cashing out in levels that have not been seen since the financial crisis. Nearly half...
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