Mortgage Rates Could Hamper Affordability About 87.5 million households are unable to afford a median-priced new home, according to data from the National Association of Home Builders. If the new-home market prices were to rise by just $1,000, an additional 117,932 would be priced out. Mortgage rates also could further hamper household affordability. Many economists …
Tag: tips
Mar 09
Jumbo Loans Reach 16-Year High
Jumbo Loans Reach 16-Year High Hoping to take advantage of mortgage rates that are still historically low, more Americans are pushing into higher mortgage levels to afford more expensive homes. Lenders reported that 2021 marked the highest dollar volume in jumbo loan originations since 2005. Jumbo loans are mortgages that exceed the loan limits of Fannie …
Mar 08
Office Occupancy Is Increasing
Office Occupancy Is Increasing Employees are headed back to the office. After the pandemic caused many companies to encourage work-from-home policies for office workers, real estate indicators signal a reversal. As they return, companies want more space. As of February, office occupancy continued to increase, with 84% of 390 metro areas seeing a rise, according …
Mar 08
High Heating Bills Stun Homeowners
High Heating Bills Stun Homeowners Heating bills this winter have left many homeowners in sticker shock. The rising cost of fuel has made heating bills jump by from 5% to 50% this winter—a warning that federal agencies made last fall. Still, in some regions, heating bills are higher than forecasters anticipated. Money Magazine spoke to …
Mar 07
Rates Drop Amid Russia-Ukraine Conflict
Rates Drop Amid Russia-Ukraine Conflict Mortgage rates fell again this week amid Russia’s invasion of Ukraine, sparking uncertainty across the globe including in U.S. markets. The 30-year fixed-rate mortgage dropped to a 3.76% average this week, Freddie Mac reports. “Geopolitical tensions caused U.S. Treasury yields to recede this week as investors moved to the safety …
Mar 07
Homeowners Value Their Yards More
Homeowners Value Their Yards More More than three-quarters of Americans who have a yard say the family yard space is one of the most important parts of their home, according to a poll of 1,700 consumers by the TurfMutt Foundation. Since the pandemic began, homeowners are showing more appreciation for their yards and spending more …
Mar 03
Philadelphia PA Home – 130 Spruce St. #19B, Philadelphia PA. 19106
$399,900 Est. Mortgage $1,887/mo*1 Bed1 Bath915 Sq. Ft. Description about this home for sale at 130 Spruce St. #19B, Philadelphia PA. 19106 Situated in the heart of Society Hill, 130 Spruce 19B is a Newly renovated and meticulously maintained energy efficient 1 bed 1 bath corner condo bathed in natural light with GARAGE PARKING! Located …
Mar 02
Mortgage Rates Rise After Preapproval
Mortgage Rates Rise After Preapproval Buyers are getting preapproved for mortgages to better compete in a fast-paced housing market and to be mortgage-ready as soon as they are ready to make an offer. However, preapproval doesn’t lock in their mortgage rate, which can continue to rise . Some buyers are finding that after their offer is …
Mar 01
Affordability in the New-Home Market Is Dwindling Fast
Affordability in the New-Home Market Is Dwindling Fast New-home buyers are facing even steeper prices. The median sales price of a newly built single-family home rose to $423,300 in January, up more than 13% from a year ago, according to data from the National Association of Home Builders. Higher development costs and rising prices for …
Mar 01
Mortgage Rates Dip
Mortgage Rates Dip The 30-year fixed-rate mortgage reversed course this week and decreased to an average of 3.89%, Freddie Mac reports. However, with expectations of even higher inflation on the horizon, mortgage rates likely will resume their upward trek over the coming weeks, Nadia Evangelou, senior economist and director of forecasting at the National Association …
Feb 28
Investment Firms Target Vacation Homes
Investment Firms Target Vacation Homes Vacation homes have seen growing demand since the pandemic began, and investors are taking notice of the sector, largely the domain of individual homeowners until now. Investors want to capture more of the bustling market for short-term rentals. Saluda Grade, a New York investment firm, has teamed up with AvantStay, a short-term rental …
Feb 28
Moving More Stressful Than Breakups
Moving More Stressful Than Breakups Moving can be stressful. In fact, 38% of survey respondents said moving is more stressful than parting ways with a significant other, according to Move.org, a relocation resource. Moves can be costly, often much more so than what many plan for. Seventy percent of Americans who used professional moving services say they were …
