Posts by Mid-Island Mortgage Corp.
Closing the Gaps: Building Black Wealth through Homeownership
Homeownership is the primary contributor to wealth building for Black households and continues to hold promise for building multigenerational wealth and housing stability for households of color. However, wealth is not accruing equitably to Black homeowners due to a long history of structural barriers and added costs. Households with little to no wealth are far…
Read MoreTransUnion: Popularity of 15-, 20-Year Mortgages Continues to Grow
TransUnion, Chicago, said as low interest rates drive refinance activity, short-term loans—i.e., 15-year and 20-year mortgages—continue to increase in popularity, a trend that played out in the third quarter.
Read MoreNEWS: Borrower beware: Mortgage rates may rise as year winds down
It’s been a strange year for the housing market.
Read MoreNEWS: Home Prices Skyrocketing Because Of Low Mortgage Rates, Not Because Covid-19 Increased Demand For Large Homes
Home prices are skyrocketing in most U.S. markets despite Covid-19.
Read MoreNEWS: The Fall Real Estate Market Is Abnormally Hot As Mortgage Rates Break Records
The coronavirus pandemic has remade what’s normal, and homebuying is no exception.
Read MoreNEWS: Millennial Update: They’re Buying Houses and Going into Debt to Fix Them Up
Reports by Ellie Mae and Bankrate.com show Millennials are pulling out their wallets not only to purchase homes, but to fix them up as well.
Read MoreNEWS: Signs Point Toward Continued House Price Appreciation
MBA Newslinks August 24, 2020 Ahead of this morning’s S&P CoreLogic Case-Shiller Home Price Indexes, a report from First American Financial Corp., Santa Ana, Calif., said low mortgage rates, tight supply and demographic demand will continue to drive home price appreciation well into autumn. “Mortgage rates are even lower (below 3% for the first time…
Read MoreNEWS: Home Sellers Increasingly Hold Upper Hand
Michael Tucker August 24, 2020 Zillow, Seattle, said sellers expanded their advantage in July as market forces continued to work in their favor. Buyers outnumbered sellers and snapped up homes at a record pace last month, Zillow reported. “This spring’s housing soft patch is receding in the rearview mirror as we get a clear picture…
Read MoreNEWS: Signs of recovery? U.S. business activity and home sales surge
Dan Burns August 21, 2020 (Reuters) – In signs an economic recovery may be picking up speed, U.S. home sales rose at a record rate for a second straight month in July, and purchasing managers in both the manufacturing and services sectors report business activity has accelerated at a brisker-than-expected pace this month. With mortgage…
Read MoreNEWS: Manhattan apartment deals plunge 57%, suburban real estate surges
Robert Frank August 6, 2020 Apartment contracts in Manhattan fell by more than half in July, while deals in many New York suburbs more than doubled, showing a continued flight from the city over the summer. The number of signed contracts for co-ops and condos in Manhattan — the best real-time measure of activity —…
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