Oct 31
Home Buyers are Predictable Are you a highly conscientious person? Then you’ll probably want a fixed-rate mortgage. Somewhat neurotic? Then you’d likely rather own than rent. A new study suggests that a person’s personality traits are predictive of his or her real estate decisions. Researchers gave more than 1,100 respondents a personality-assessment test, asking them …
Oct 30
Reasons Renters Keep Renting The majority of Americans who do not own their own home say they intend to one day and hold strong feelings toward home ownership. But how about those 20 percent of households who are adamant about renting and say they intend to stay renters now and in the future? About 20 …
Oct 29
Credit issues still and issue but home sales are still up. Pending home sales inched up slightly in September, and for the first time in 11 months, they were above year-ago levels, according to the National Association of REALTORS®’ Pending Home Sales Index. However, tight credit conditions continue to be a barrier for many borrowers, …
Oct 28
Housing’s Big Game Changer: Marriage Delays Marriage and real estate often go hand-in-hand. But a drastic decline in the number of married young adults is emerging as “one of the biggest game changers in the housing industry,” according to John Burns Real Estate Consulting. The share of 25 to 29 year olds who are …
Oct 27
Mortgage Rates Haven’t Been This Low Since 2013 The 30-year fixed-rate mortgage took another dip this week, staying below the 4 percent threshold and keeping borrowing costs at the lowest rate in more than a year. It marks the fifth consecutive week that mortgage rates decreased. Freddie Mac reports the following national averages with mortgage …
Oct 24
Housing Is Missing 700K in Sales A drop in single-family home sales – both new-homes and existing-homes – over the past few years equates to a real estate market that is at least 700,000 shy in annual home sales, according to estimates by David Crowe, the chief economist for the National Association of Home Builders. …
Oct 23
Buyers Aren’t Budging for Low Rates Mortgage rates have fallen to their lowest level in nearly 18 months, while mortgage applications for home purchases have fallen 5 percent week-to-week and have dropped about 9 percent from year-ago levels, the Mortgage Bankers Association reports. The national average on the 30-year fixed-rate mortgage dropped to 4.10 percent …
Oct 22
Banks Betting Big on Apartment Projects Lenders dished out $172.5 billion in new mortgages for apartment buildings with five or more units in 2013 — a multifamily lending record, according to a new Mortgage Bankers Association report. It’s an 18 percent gain over 2012 levels, and so far, lending for apartments this year looks likely …
Oct 21
The Commercial Market’s Hot Sector In the U.S. commercial market, analysts are pointing to the sizzling warehouse sector as the industry to watch. Robust leasing for warehouses the last few quarters have prompted developers to scour the nation looking for new sites to accommodate the growth in warehouse demand. The need is growing: Many markets …
Oct 20
Mortgage Rates Dip Below 4% Threshold Borrowing costs sank to the lowest amounts in more than a year as the 30-year-fixed rate mortgage averaged 3.97 percent this week, Freddie Mac reports in its weekly mortgage market survey. The 30-year fixed-rate mortgage is at its lowest average since the week of June 20, 2013, when …
Oct 17
Useful Tips for Clients with Nosy Friends Clients who recently purchased a new home might find themselves in an awkward place when an inquiring mind – a friend, neighbor, colleague, or relative – questions them about the price of their home. Time Inc’s Money magazine has some helpful tips for people who don’t feel …
Oct 16
Lower Mortgage Rates Revive Refinancing Housing Boom As interest rates tumble, home owners are rushing to take advantage of the lowest rates of the year. Overall, mortgage applications rose 5.6 percent on a seasonally adjusted basis during the week ending Oct. 10, led by an 11 percent week-to-week surge in refinance applications, the Mortgage Bankers …
