Rising minimum wages will allow many working-class Americans to buy a first home. The housing boom doesn’t have to be followed by a painful bust. The boom of the last decade was powered by speculative froth and lax mortgage underwriting – and it ended predictably badly. The present day, with large employers continuing to raise […]
Mortgage rates dropped yesterday. It wasn’t a huge move, but they didn’t have to go very far to get to the best levels of the month. To be fair, many prospective borrowers are still seeing the same interest rate at the top of a loan quote that they would have seen any time in the […]
A few couple of warm days, the appearance of a few tulips, and wham, homebuyer sentiment goes through the roof. At least the results from the March National Housing Survey (NHS) seem to support that theory. Net positive responses to whether it is currently a good time to buy and/or sell a home shot up 7 […]
Corelogic, the real estate data and analytics company, predicts that annual gains in home prices could hit close to 5 percent by 2020, thanks to falling interest rates.
Mortgage rates took the day to do just a little bit more of what they’ve been doing in fairly grand fashion for the past week: MOVE LOWER! When the good times started in earnest, rates were already in line with their lowest levels in more than a year. As of today, they’re another quarter or […]
-The average rate on the 30-year fixed mortgage is falling again today, as investors rush into the bond market. The average lender today is offering a rate between 4.125 and 4.25 percent, with more aggressive lenders going to 3.875 percent for borrowers with pristine applications, according to Mortgage News Daily.
Two terms that are often (and incorrectly) used interchangeably are “pre-qualified” and “pre-approved”. A Pre-Qualification typically means a buyer has spoken with a lender (who may or may not have pulled a credit report) and verbally discussed employment, liabilities, payment histories, and assets. A true Pre-Approval, on the other hand, entails a strict review of […]
It seems like only yesterday that we were looking at the December new home sale numbers – well actually it was 6 days ago. Now we have the January sales numbers as the Census Bureau and the Department of Housing and Urban Development continue to catch up from the shutdown’s data drought.
BY JANN SWANSON It is our first glance at home prices in the new year and CoreLogic estimates the rate of appreciation has fallen by more than 2 percentage points since January 2018. However, the company also predicts a small uptick in the rate of increase over the next 12 months. CoreLogic Price Gains Moderating, […]
BY JANN SWANSON Expectations were high for a strong pending home sales report to christen the New Year. Those expectations were more than satisfied. The National Association of Realtors® (NAR) says its Pending Home Sales Index (PHSI) jumped 4.6 percent, climbing to 103.2 in January from 98,7 in December. It was the first gain in […]