Archive for May 2019

NEWS: Mortgage refinances surge 8%, as rates fall to the lowest level since January 2018

Diana Olick May 22, 2019 Homeowners are taking advantage of lower interest rates, rushing to refinance their mortgages before rates potentially turn higher again. Total mortgage application volume increased 2.4% last week from the previous week and was up 15% from a year earlier, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinances drove…

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NEWS: ‘I went the extra $5,000’: Despite a cooling housing market, buyers bust their budgets

Paul Davidson, USA Today May 22, 2019 A nationwide housing shortage has eased somewhat. Home price gains have moderated. And bidding wars are no longer commonplace. Yet buyers are still blowing through their budgets by ever-higher amounts to lasso their dream homes, according to a recent survey by Owners.com, a real estate brokerage.  The finding shows that even…

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NEWS: Vacant Homes Fetch Less Money and Take Longer to Sell

Mike Sorohan  May 21, 2019 The financial crisis taught mortgage lenders, servicers and policymakers that vacant homes pose major problems-from maintenance, blight, lower neighborhood property values and crime. Now, with the crisis largely behind, a different kind of issue faces vacant properties, said Redfin, Seattle. A recent Redfin analysis found nationwide, vacant homes sell for…

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NEWS: MBA: April New Home Purchase Applications Up 3% from March, 16% from Year Ago

MBA NewsLink Staff May 16, 2019 The Mortgage Bankers Association Builder Applications Survey reported mortgage applications for new home purchases increased by 15.6 percent in April from a year ago and by 3 percent from March. The changes do not include any adjustment for typical seasonal patterns. By product type, conventional loans composed 70.7 percent of…

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NEWS: Key Housing Markets Still Seeing Bidding Wars

MBA NewsLink Staff May 10, 2018 Redfin, Seattle, despite a noticeable nationwide decline in bidding wars for homes in April, pockets of the country, particularly on the West Coast, remain hot this spring. Redfin reported just 15 percent of offers written by Redfin agents on behalf of their home-buying customers in April faced a bidding war,…

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