What do realtors and lenders need to know about the housing market as we head into 2017? Many homeowners are anxious about the idea that future high mortgage rates could make their houses appear less attractive to buyers on the market. If this were true, homeowners would be forced to lower their asking price to… Read more »
Overall mortgage applications fell last week due to rising interest rates, even as home purchase figures remained robust. Investors suspect December’s monthly Federal Reserve meeting could yield a rise in benchmark rates, and mortgage rates are therefore on the rise. Dive In or Hold Off? With the cost of borrowing increasing, there has been a… Read more »
Home prices in the United States have hit an all-time high, topping the previous record set over a decade ago and marking the end of the worst era for the housing market since the Great Depression. National Home Price Index September’s average home price beat July 2006’s peak by 0.1%, per the S&P CoreLogic U.S…. Read more »
While the holiday season might not be the hottest time of the year for real estate, there are plenty of compelling reasons why buyers should bundle up and start house hunting. From lower buyer competition and motivated sellers to a lull in lending and year-end tax benefits, December offers a wealth of advantages you may… Read more »
After the dramatic Presidential election of Donald Trump, there’s no doubt that the American economy is facing some major changes — particularly the real estate sector. Housing affordability and availability were largely absent from the pre-election discussion, leading many to wonder precisely what the future will hold. After a long and shaky recovery from 2008’s… Read more »
Anyone who has been paying attention to real estate sector news knows that American homeownership rates — actively declining for over ten years — are now at a half-century low. Combined with financial turmoil both international (Brexit) and domestic (a contentious Presidential election, TRID-spurred compliance issues), many mortgage and property professionals are predicting a pessimistic… Read more »
The demographics of the U.S. are shifting as millennials and minorities are making up a larger share of the population. This transition creates a phenomenal opportunity for mortgage lenders to serve these groups as they look to purchase homes. Millennial Homeownership Post-crisis homeownership rates for millennials and minorities nonetheless remain depressed. During the second quarter… Read more »
Black Knight Financial Services’ monthly mortgage report shows that only 1% of all loans are in active foreclosure. By that metric, the housing market is healthier than it has been at any point since the financial crisis began. Foreclosures in September According to data in Black Knight’s “First Look” at September’s mortgage data, the 1%… Read more »
Real estate industry watchers were shocked at the near historic levels of demand in the housing market throughout the summer of 2016. It would be reasonable to expect a significant drop-off this fall, especially since the autumn period is usually a slow time for property transactions. According to a new report released by realtor.com, that’s… Read more »