home financing: Home Prices Stabilize After Years of Fluctuation
- 07/15/15 01:29 AM
According to Neil Irwin writing for the New York Times, the housing market in general, and home prices more specifically, seem to be stabilizing at last after nearly a decade of dramatic ups and downs. Buyers are no longer feeling the need to either put off buying for a better time or jump in immediately to get the best deals as the market becomes more regular over the long term. "In contrast to the periods of irrational optimism and pessimism, the market is settling into a balance in which buyers are comfortable spending what they can afford given their income and savings, … (0 comments)
home financing: Mortgage Applications Up, Rates Down
- 05/20/15 05:00 AM
According to the Mortgage Bankers Association (MBA)'s report on mortgage application activity, mortgage applications increased by 4.6 percent week-over-week during the week ending March 27. This increase followed close on the heels of a 9.5 percent week-over-week rise the week before, indicating that spring is getting off to a strong start with respect to mortgage activity. Those who participated in last week's application surge were in luck, as average mortgage rates were slightly lower last week than the week before. The average interest rate on a 30-year fixed-rate mortgage dropped to 3.89 percent from 3.90 percent, and the average rate for a … (2 comments)
home financing: Four Ways to Save for a Down Payment
- 05/03/15 11:26 PM
For the past month, the real estate market has been in one of its best conditions in recent memory for first-time home buyers, with low mortgage rates becoming the norm and the FHA announcing that it will lower its annual premiums to bring more buyers into the market. If you're one of those buyers who is thinking about taking the plunge and moving from renting to home ownership, you're probably the most concerned about one number: the down payment. An FHA loan can give you one of the lowest down payments on the market, but you'll still need to save a … (1 comments)
home financing: 55+ Real Estate Market Booming
- 02/27/15 08:05 AM
While many in the real estate profession have been busy wringing their hands over when millennials will get into the housing market, there is a solid segment of homebuyers and renters who have been quietly supporting the market on their end: those 55 years of age and over. With many baby boomers looking for retirement homes or downsizing now that their children are out of the house, this demographic has been spurring increased single-family and multifamily starts for the past year. According to the National Association of Home Builders (NAHB)'s 55+ Housing Market Index (HMI), builder sentiment is more confident in the 55+ … (1 comments)
home financing: Overoming the Challenges for First Time Home Financing
- 02/17/15 03:03 AM
Financing a first home can be challenging. However, buyers who are prepared, and know what they can afford, can help expedite the process, saving themselves unnecessary headaches later. Before starting your home search, here are a few financial tips to consider. First, figure out what you can afford to pay in a monthly house payment. This payment should take in to consideration, principle, interest, taxes, insurance, condo or home owner’s fees, and monthly assessments. Look at your monthly budget and track your cash flow, allowing no more than 28% of your gross income to go towards your new home payment. Keep … (0 comments)
home financing: First Time Homebuyers Still Struggle in this Market
- 11/11/14 02:06 AM
For first time buyers, the struggle to afford even the cheapest of housing in the U.S. has been all too real. Between low wages, competition from veteran homeowners and investors and increasing student debt, most young professionals simply cannot fathom financing that type of investment. Now, the prospect is exceedingly difficult as sellers are expecting more cash upfront even on moderately priced properties. According to Bloomberg BusinessWeek, the necessity for a bigger down payment is the result of tight credit limitations that are making it difficult for rookie homebuyers, even with interest rates at historical lows and home prices also low … (0 comments)
According to Neil Irwin writing for the New York Times, the housing market in general, and home prices more specifically, seem to be stabilizing at last after nearly a decade of dramatic ups and downs. Buyers are no longer feeling the need to either put off buying for a better time or jump in immediately to get the best deals as the market becomes more regular over the long term.
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