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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…

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.…

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…

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…

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…

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…