Mortgage Rates At Lowest Point Since November

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell to their lowest level since last November this past week. Rates fell across all loan categories, including 30-year fixed-rate mortgages with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. Naturally, lower rates spurred an…

New Home Sales Fall After Reaching Recent Peak

Each month, the U.S. Census Bureau and the Department of Housing and Urban Development release an estimate of how many new homes were sold during the previous month. Because it’s an estimate, the month-to-month numbers can be volatile. For example, the most recent residential sales statistics show an 11.4 percent decline in the number of…

Rents Are Increasing In The Suburbs Too

There are two groups commonly associated with renting. One is young people. The other is people living in urban centers. Conjure up an image of the typical renter and you’ll probably end up imagining someone in their 20s living in a downtown apartment building. The suburbs, on the other hand, have been traditionally thought of…

Three Reasons Homeowners May Be Waiting To Sell

When shopping for a house, you have to choose from the homes that are for sale at the time you’re looking. In other words, unless you’re having a house custom built to your specifications, you’re going to have to make do with what’s on the market now. These days, that’s become more challenging in some…

Housing Outlook Sees Reason For Optimism

Over the past few years, a pattern has emerged: The economy slows during the first quarter then begins to rev up during the second quarter. Now, according to Fannie Mae’s Economic & Strategic Research Group, we may be on pace to see the same thing this year. But what will that mean for the housing…

Mortgage Rates Relatively Flat From Last Week

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates were relatively flat last week across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate mortgages. Despite this, however, demand for mortgage applications was down 4.1 percent from the…

Some Tips On Buying In A Competitive Market

It’s always good to prepare before you set out to buy a house. But that’s especially true in a tight market. If there are more buyers than homes for sale, there’s naturally also going to be competition. And where there’s competition, buyers need to be ready. So what can buyers do to make sure they…

Builders See Increased Interest In New Homes

Among the many barometers of housing-market health, one of the more significant indicators is new home construction. Especially in areas where there are more buyers than homes for sale, the number of new homes being built can make a difference in how quickly prices rise and how many choices buyers have to choose from. One…

A Few Benefits Of Owning A Home In Retirement

In recent years, there’s been an increasing number of older Americans who rent rather than own their own home. But is renting really a better choice for retirees looking to reduce costs and obligations? Well, not necessarily. While it’s true that homeownership brings with it ongoing expenses like routine maintenance and property taxes that continue…

Number Of Affordable Homes For Sale Rises

Affordability is the number one concern of prospective home buyers. Sure, there are a lot of things on a buyer’s mind when they begin looking for a home to purchase but things like the number of bedrooms in a house or the size of the kitchen don’t really matter if you can’t afford to buy…