Mortgage rates below 3% have brought homeowners stampeding back to the refinance market. A sharp rise in refi demand is driving an increase in overall mortgage applications, a new report shows. Refinancing to take advantage of mortgage rates that remain far below historical averages can be a […]
A decade after the housing market emerged from a deep downturn, housing is hot again. Indeed, home values are soaring to new highs. With its double-digit appreciation and rampant bidding wars, the latest real estate party has some eerie similarities to the last one. “It’s clearly […]
Zillow, Seattle, said incremental increases in homeownership rates and home values among Black households would help shrink the current $3 trillion racial wealth gap by hundreds of billions of dollars over the next decade. Today’s typical Black household has only about 23 percent of the […]
Following an incredible year for refinances that mostly benefited wealthier borrowers, the Federal House Finance Agency announced it is implementing a new refi product that targets low-income borrowers with single-family mortgages backed by Fannie Mae and Freddie Mac. According to the regulatory agency, this new product will assist borrowers who were less likely […]
The words “spring home buying season” carry a very different meaning this year than they did last year. Normally spring is the hottest time of year for home sales — more buyers surface when the warmer weather emerges and families prefer to move before the […]
More than four in 10 millennials refinanced their mortgage in the past year, according to a report from LendingTree. Record-low mortgage rates fueled the number of refinances which nearly doubled the overall average. During the pandemic, 26% of homeowners refinanced their mortgage, according to the report. Additionally, […]
Last week was the first overall increase in weekly mortgage applications since the end of February. Applications to refinance a home loan jumped 10% for the week, but were still 23% lower a year ago, the Mortgage Bankers Association said. A sharp drop in mortgage […]
Incentivizing current owners to sell is key Homes listed for sale midweek sell for an average of 1.6 days faster than homes listed on weekend A new report from Redfin shows that homes listed midweek sell for an average of $1,700 more than homes listed on the weekend, based […]