Towns where Foreclosures Are Increasing Foreclosure filings are on the rise, increasing 13% month over month in October and reaching their highest level of 2019, according to ATTOM Data Solutions’ latest U.S. Foreclosure Activity Report. Foreclosure starts rose monthly in 36 states, marking the first double-digit month-over-month increase since February 2018, ATTOM Data Solutions reports. …
Tag: News
Nov 18
Properties Are ‘Equity Rich’
Properties Are ‘Equity Rich’ It’s a good time to be a homeowner: The share of equity-rich residential properties zoomed to a total of 14.4 million, shows the 2019 U.S. Home Equity & Underwater Report from ATTOM Data Solutions. Nearly 27% of all properties with a mortgage in the U.S. are now considered “equity rich,” meaning …
Nov 15
Bidding Wars on Homes
Bidding Wars on Homes Good news for home buyers: Bidding wars are at the lowest point in a decade. But that could be short-lived. In one closely watched industry index measuring bidding wars, just 10% of offers written by real estate professionals with the brokerage Redfin faced competition from other buyers in October, down from …
Nov 14
Mortgage Meltdown Unlikely
Mortgage Meltdown Unlikely Housing analysts are hoping it’s not a case of déjà vu. Unconventional mortgage lending is on the rise, in 2018 reaching its highest level since the financial crisis of 2008. These mortgages include subprime loans, financing offered to borrowers with blemished credits. While these more risky loans are on the rise, some …
Nov 13
How much home can I afford?
How much home can I afford? It’s one of the most important questions you can ask yourself before embarking on a home buying search. Knowing the factors that lenders take into consideration when you apply for a home loan is a smart first step in the process. Key factors include: Debt to income ratio …
Nov 12
Budget More for Home Insurance
Budget More for Home Insurance Home insurance rates are climbing due to a rising number of natural disasters. As a result, homeowners, particularly those located in some at-risk markets, will need to brace for higher costs. Last year, there were 850 “natural catastrophes” worldwide that totaled some $350 billion, up from 500 disasters a decade …
Nov 11
Mortgage Rates Reverse Course
Mortgage Rates Reverse Course Following three consecutive weeks of increases, the 30-year fixed-rate mortgage posted a drop this week. The average rate was 3.69%, Freddie Mac reports. “After a yearlong slide, mortgage rates hit a cycle low in September 2019 and have risen in six out of the last nine weeks due to modestly better …
Nov 08
Re-Acceleration in Home Prices
Re-Acceleration in Home Prices Good news for sellers: Home prices are on the rise. But buyers should brace for higher prices. Nearly all—93%—of the largest metros in the U.S. saw home prices rise in the third quarter over the past year. A shortage of homes for sale, combined with higher demand, continues to push home …
Nov 07
Wish List of First-Time Buyers
Wish List of First-Time Buyers Millennials tend to have higher expectations than older homeowners did about their ideal starter home, according to a new survey by Clovered, a home insurance resource. Millennials tend to want larger homes with modern designs. More millennials are entering the housing market for the first time. Clovered recently surveyed more …
Nov 06
Still renting? Your monthly rent could fund your dreams.
Still renting? Your monthly rent could fund your dreams. The leap from renter to owner is closer than you think. Many renters are discovering that they can qualify to buy a home of their own. Now might be the time to turn that monthly rental check into your first home while interest rates are still …
Nov 05
Instant Curb Appeal
Instant Curb Appeal From landscaping to exterior finishes, there are plenty of ways to make your listing a standout in curb appeal. Houzz, a home remodeling website, recently showed off a few high-impact ways to boost a home’s exterior aesthetic. Paint the front door. Put a fresh coat of paint on the front …
Nov 04
Mortgage Rates Rise Again
Mortgage Rates Rise Again For the third consecutive week, the interest rate for the 30-year fixed-rate mortgage increased. The rise came despite the Federal Reserve cutting its key benchmark rate for the third time this year. The Fed’s interest rate often influences mortgage rates. However, home buyers are still taking advantage of historically low mortgage …
