May 09
Rates Drop, Near 2016 Lows Mortgage rates are hovering just above their lowest point of the year, Freddie Mac reports in its weekly mortgage market survey. “The Fed’s decision to stand pat followed by a week of assorted unsettling news drove Treasury yields lower,” says Sean Becketti, Freddie Mac’s chief economist. “As a consequence, the …
May 06
Your Ultimate Smart Home Primer More consumers than ever before are seeing the benefits of having a home with smart technology. In fact, a 2016 Coldwell Banker survey revealed that owners believe smart home technology makes their home safer, saves them money, and saves them time. The same survey also found that 54 percent …
May 05
Loan Demand Recedes Again Total mortgage application volume – which encompasses applications for refinancings and home purchases – nudged down 3.4 percent week-to-week on a seasonally adjusted basis, the Mortgage Bankers Association reported Wednesday. The decrease came as interest rates edged slightly higher last week. Nevertheless, total mortgage application volume still remains 14 …
May 04
Renovation Mistakes to Avoid Home renovations can be costly. Add a mistake to it, and the costs can skyrocket even more. Emerick Architects has taken on dozens of commercial and residential renovation projects over the last 16 years, and their architects recently shared some of the most common renovation mistakes in an interview with …
May 03
Ways to Remove Smelly Odors Whether it’s a pet odor or yesterday’s pungent dinner, you can take steps to remove bad odors from a home prior to a showing. “If you enter a home and immediately encounter a smell, that is generally all people focus on, and all they will remember,” says Debra Johnson, a …
May 02
Home Ownership Rate Nears Record Lows The home ownership rate made gains in the second half of 2015, but that progress was muted in the latest report from the U.S. Census Bureau. The first quarter of this year saw the home ownership rate back on the decline, plummeting to 63.6 percent, the third …
Apr 29
Fed Votes to Leave Interest Rates Alone The Federal Reserve’s Open Market Committee voted this week to not increase the federal funds rate, which should help keep mortgage rates low during the busy spring home buying season. The federal funds rate will hold at its current 0.25 percent and 0.5 percent rates, at least for …
Apr 28
Open Houses Showcase High-Priced Artwork Real estate and staging professionals of luxury listings are turning to high-priced, original artwork to dress up their open houses and offer up another pull for potential home buyers to visit. Some professionals are coordinating with art galleries to rent original art pieces to hang during home showings. The pieces …
Apr 27
Reasons Why That Listing May Linger If a home for sale is taking longer to sell than you thought, it may be due to common problems like overpricing, unflattering listing photos, and maintenance issues. 1. Pricing: When the price is right, buyers will flock to it. Revisit the comps. Here’s some advice that will …
Apr 25
Closing Times Are Speeding Up The average time to close on all mortgage loans dropped to 44 days in March, the shortest amount of time in a year, according to Ellie Mae’s latest Origination Insight Report. New mortgage rules went into effect last October, pushing closing timelines from 46 days in October to 48 …
Apr 22
How Long It Takes to Save for a Down Payment Renters in some cities may face a long road toward home ownership. Faced with high rents, some may even have to wait a few decades before they’ll be able to save enough for a down payment – that is, if they keep saving at …
Apr 21
Dorms for Adults Is a Trend Gaining Steam Cities such as New York, San Francisco, and Washington, D.C., have been seeing an explosion of micro apartments—units ranging from 175 square feet for a studio to 550 square feet for a one- or two-bedroom—in an effort to combat skyrocketing rents for larger spaces. But many …
