There's a lot to consider when shopping for a house to buy. Not only do you have to think about the type of home you'd like and what features and amenities you'd like it to have but you'll also have to select a neighborhood that fits well with your lifestyle. In short, everything from the number of bedrooms a house has to how close it is to your friends and family will come into play. And, because there will be tradeoffs, it won't always be that easy to choose. For example, you may have to decide between being … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates were down last week from the previous week. It marks the third consecutive week of declines. But though rates fell, there wasn't a corresponding jump in the number of home buyers requesting loans to buy homes. In fact, refinance activity rose 6 percent from the previous week, but the seasonally adjusted Purchase Index only increased 1 percent. Joel Kan, MBA's associate vice president of economic and industry … [Read more...]

Home design trends can be fleeting. This year's hot color combination will be old news before you know it. So, unless you want to paint your home every six months, you're better off choosing your home's décor based on the things you love rather than the things you read about. There are, however, some trends that are more meaningful and can help you save money and make your life more comfortable. For example, a new list of trends from national home builder and developer Taylor Morrison offers some interesting ideas … [Read more...]

Market conditions will differ from one neighborhood to the next. That's why it's said that real estate is all about location. One area can be hot with buyers while another sees falling prices and little interest. These days, inventory is the primary factor determining what conditions look like in a particular market. In neighborhoods where there are an increasing number of available homes for sale, home prices are beginning to soften. Where inventory is lagging, prices are still headed upward. One recent report … [Read more...]

The internet and smartphones have changed the way we do things. Everything from how we buy groceries to how we listen to music has been affected by technological advances. So it should come as no surprise that shopping for a house has also been transformed by easy access to information and resources. A look at research from the National Association of Realtors shows just how much. For example, in 2003, 42 percent of home buyers said they used the internet frequently during their home search. This year, 83 percent … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates were down last week for loans with conforming balances and the drop helped drive mortgage demand upward. In fact, demand for loans to buy homes was up 9 percent from the week before and is now 2 percent higher than the same week one year ago. Mike Fratantoni, MBA's chief economist, said the increase in home buying activity follows several weeks of volatility. But though encouraging, the improvement wasn't evenly … [Read more...]

Home prices have been increasing for a while. Driven by high buyer demand and a lower-than-normal number of homes for sale, values have been on the rise. But, according to the latest S&P CoreLogic Case-Shiller Home Price Indices, the rate of home price increases is now starting to slow. In fact, the results show the National Index gained 5.5 percent year-over-year, which is down from 5.7 percent. Additionally, 16 of 20 included cities saw smaller annual increases. David M. Blitzer, managing director and … [Read more...]

Over the past decade, housing market conditions have changed dramatically. The housing crash and subsequent price rebound have caused a shift from buyer's to seller's market. Add to that lower-than-normal mortgage rates and a lack of for-sale inventory and prospective home buyers could be forgiven for not knowing what to expect when they head out to look for a home. Fortunately, however, Fannie Mae's most recent forecast from their Economic and Strategic Research Group contains some good news. That's because, … [Read more...]

Sales of previously owned homes rose 1.4 percent in October from the month before, according to new numbers from the National Association of Realtors. The increase was the first in six months. Lawrence Yun, NAR's chief economist, said housing inventory is increasing and it's bringing buyers back to the market. “After six consecutive months of decline, buyers are finally stepping back into the housing market,” Yun said. “Gains in the Northeast, South, and West – a reversal from last month's steep decline or plateau … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates fell last week, reversing an upward trend seen over the past several weeks. Though the decline was slight, it affected all loan categories except those backed by the Federal Housing Administration. Joel Kan, MBA's associate vice president of economic and industry forecasting, says rates slowed due to economic concerns. “Treasury rates declined last week, as equity markets continued to see large swings amidst investor … [Read more...]