Archive for July 2019
NEWS: Homeowners refuse to tap into massive equity. Is that a mistake?
Erik J. Martin July 19, 2019 Report: Home equity increases, but borrowing doesn’t Homeowners have built up a lot of home equity in recent years. That’s the difference between what you owe on your property and the home’s fair market value. A strong housing market and rising home prices have contributed to higher rates of home equity. And…
Read MoreNEWS: Mid-year review: What’s happening in housing, and more important, what’s not
Natalie Campisi July 12, 2019 The first half of 2019 bore promising gifts to eager homebuyers, namely low mortgage rates and slowing home price growth. This comes, however, amid a deepening shortage of affordable housing throughout the country. Mortgage rates fell below 4 percent, applications zoomed Let’s start with the good news. Since January, mortgage rates have…
Read MoreNEWS: Fed interest rate cuts to usher in new era for home buyers
Erik J. Martin July 16, 2019 Good news for home buyers: falling rates Home prices remain high and inventory low, but there’s hope for home buyers. A Fed rate cut is expected this year, even as early as July 31. That means mortgage interest rates should drop, making it more affordable to buy a home.…
Read MoreNEWS: Redfin: Bidding Wars Continue to Ease
MBA NewsLink Staff July 12, 2019 Redfin, Seattle, said just 12 percent of Redfin offers faced a bidding war in June, down from 52 percent a year earlier. The report (https://www.redfin.com/blog/june-2019-bidding-wars) said the least competitive market in June was Miami, where none of the offers submitted by Redfin agents faced competition. Dallas (5.3%) and San Jose…
Read MoreNEWS: New bill slashes FHA mortgage insurance for first-time homebuyers
Jessica Guerin July 10, 2019 Borrowers who undergo counseling can get a discount on their upfront mortgage insurance The House of Representatives passed a bill Tuesday that slashes the cost of upfront mortgage insurance for first-time homebuyers using mortgages backed by the Federal Housing Administration. The Housing Financial Literacy Act of 2019, or H.R. 2162, stipulates that…
Read MoreNEWS: New Studies Track Generation Z’s Views on Homeownership
Phil Hall June 25, 2019 The newest entrants into the homeownership arena is the Generation Z demographic of 18- to 24-year-olds, and a pair of new data studies offer insight into how this sector views the American Dream. A survey of more than 1,000 young adults by Homes.com determined that 86 percent of respondents planned to become homeowners…
Read MoreNEWS: Programs and tactics to help you afford to buy a home
Natalie Campisi June 25, 2019 The homeownership supply and demand tug-of-war continues, deterring some homebuyers and prompting banks and public institutions to create special programs to give the demand side more juice. Government-sponsored enterprise Freddie Mac, for example, just announced its “All for Home” program which offers targeted services for lenders, real estate agents and homebuyers that…
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