Jul 05
Mortgage Rates Hit Another Low for 2017 Interest rates for a 30-year fixed-rate mortgage took another dip this week, setting a new low for 2017, Freddie Mac reported in its weekly mortgage market survey. “The 30-year mortgage rate fell 2 basis points to 3.88 percent this week,” says Sean Becketti, Freddie Mac’s chief economist. “However, …
Jun 30
Take your chances… Buyers Make Offers Sight Unseen The number of buyers making offers sight unseen—meaning they haven’t physically visited the property—is on the rise, according to a survey of recent home buyers conducted by real estate brokerage Redfin. Thirty-three percent of respondents in 11 major markets say they made an offer on at …
Jun 29
Owners Are Missing Out on Savings Nearly 4.5 million borrowers are eligible to refinance and could lock in savings on their monthly mortgage payments but have not taken advantage, according to a new report from Black Knight Financial Services. The average borrower stands to save $260 a month. Nearly 700,000 borrowers could save …
Jun 28
Lenders Easing Up Credit Standards More mortgage lenders are reporting that they have lowered their credit standards and expect to continue to do so in the coming months, according to Fannie Mae’s second-quarter 2017 Mortgage Lender Sentiment Survey. The share of lenders reporting they have eased mortgage credit standards over the prior three …
Jun 27
New-Home Prices Hit Record High The median price for a new single-family home reached a record high in May of $345,800, the Commerce Department reports. Buyers will be paying a huge premium for new construction, as new-home prices are now 16.8 percent higher than they were a year ago. So far, however, the higher …
Jun 26
Home Security tips from OOMA Home Security Summer time is one of the largest times for home break ins. Omma home security has offered a few sound advice ideas for you to keep your home, family and valuables safe while you are away for vacation or even just at work during the summer …
Jun 23
12M Consumers May Get Credit-Score Boost The three largest credit-reporting agencies will begin cleaning up credit reports in July, which could help lift the credit scores of about 12 million consumers. In a survey by the Federal Trade Commission, one in four people say they spot errors in their credit reports, most commonly concerning tax …
Jun 22
Steadier Mortgage Rates Buoy Loan Demand Mortgage applications for refinancing and home purchases remained elevated last week as mortgage rates continued to give consumers incentive to make a move. “Both the 10-year Treasury yield and the 30-year conventional mortgage fixed rate held steady last week, keeping rates well below the recent highs,” says Lynn …
Jun 21
Teardowns Account for More New Homes More than 10 percent of new single-family homes that began construction in 2016 were part of a teardown project, according to new data from the National Association of Home Builders. That’s up from 7.7 percent in 2015. NAHB defines a teardown as a home that is built on …
Jun 20
Equity Gains Shut Out Would-Be Buyers Homeowners nationwide have doubled their equity since 2009. While that’s good news for those who already own, prospective buyers say increases in home values—which lead to higher prices—are making it more difficult for them to break into home ownership. Challenges to housing affordability will not be solved soon because …
Jun 19
Why Your Clients Are Smart to Buy in Summer Summertime in the housing market brings countless buying and selling opportunities. But with all the competition out there, would your clients be better off waiting a few months? Real estate experts say no. They contend home prices peak from June to August and say there …
Jun 16
Zero-Down Loans Making a Comeback Your buyers may soon be able to bring less to closing. They were blamed for precipitating the housing crisis years ago, but major lenders are giving no- and low-down payment loans another shot. Several major lenders are reportedly offering loans with just 1 percent down. Navy Federal, the nation’s …
