The standards lenders use to determine whether or not a borrower is approved for a loan aren't fixed. That means there are times when it's easier to get a mortgage and times when it's more difficult. Because of this, the Mortgage Bankers Association tracks mortgage credit availability from month to month. An increase in the MBA's index indicates that standards are loosening, while a decline means they've tightened. According to the most recent results, mortgage credit availability tightened in April. Joel Kan, … [Read more...]

One of the primary benefits of owning a home is equity. Put simply, equity is the difference between what you owe on your mortgage and what your home is worth. Which means, you build it as you pay down your loan each month. It also grows when your home's value increases. It's homeownership's main financial benefit and, these days, homeowners have more of it than ever. In fact, according to ATTOM Data Solutions' most recent U.S. Home Equity & Underwater Report, nearly half of all mortgaged residential properties … [Read more...]

One of the primary benefits of owning a home is equity. Put simply, equity is the difference between what you owe on your mortgage and what your home is worth. Which means, you build it as you pay down your loan each month. It also grows when your home's value increases. It's homeownership's main financial benefit and, these days, homeowners have more of it than ever. In fact, according to ATTOM Data Solutions' most recent U.S. Home Equity & Underwater Report, nearly half of all mortgaged residential properties … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates increased again last week, with rates up from one week earlier for 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. Despite the increase, though, home buyers remained active. In fact, demand for loans to buy homes was up 5 percent from the week before. Joel Kan, MBA's associate vice president of economic and industry … [Read more...]

The lack of available homes for sale has been an issue for years now. It's pushed prices higher and led to a fast-moving market, where attractive listings only last a few days before they've collected multiple offers from competing buyers. Put simply, it's been challenging for home shoppers. But a new analysis from the National Association of Realtors' consumer website offers some encouragement for buyers who may need the good news. The website's most recent monthly Housing Trends Report found that the number of … [Read more...]

Fannie Mae's Home Purchase Sentiment Index is based on a monthly survey of Americans. The survey asks respondents whether they think now is a good time to buy or sell a home, where they think home prices and mortgage rates are headed, and how they feel about their financial situation and job prospects. According to the most recent results, rising mortgage rates have led to increased concern about housing affordability, which has caused a 5 percent drop in the number of participants who say they think now is a good … [Read more...]

Mortgage rates have been moving higher in recent months. Which means, if you're currently shopping for a home, your prospective monthly mortgage payment has too. But with rates moving quickly, it can be hard to keep up with what it means for your budget. So what should you know about recent mortgage rate increases and how they've affected monthly payments? Well, the Mortgage Bankers Association's new Purchase Applications Payment Index tracks median mortgage payments and how they change from month to month. … [Read more...]

If you have a home to sell and have been wondering about the best time to list it, ATTOM Data Solutions has your answer. Each year, they release an analysis of the best days of the year to sell a home. They compare home valuations with 11 years of sales data to determine the days when sellers got the best price for their house. According to this year's analysis, there's no better time than right now. In fact, the month of May ranks as the best month to sell a home, with a seller premium of 12.6 percent. The top … [Read more...]

A housing market with too few homes for sale can be frustrating for home buyers. For home sellers, though, it's an opportunity. Evidence of this can be found in ATTOM Data Solutions most recent U.S. Home Sales report. The report covers the first quarter of 2022 and shows the typical single-family home sold at the beginning of the year generated a gross profit of $103,000. That's up from $75,000 one year ago at the same time. Rick Sharga, ATTOM's executive vice president of market intelligence, says though rapidly … [Read more...]

The U.S. Census Bureau and Department of Housing and Urban Development's most recent New Residential Sales report covers how many new homes were sold in March. According to the data, sales fell 8.6 percent from the month before and are now 12.6 percent lower than they were last year at the same time. New home sales are an important barometer of housing market health, since they are counted when the contract to buy is signed rather than when the sale is closed. Because of this, they offer an early glimpse of where … [Read more...]