According to the Mortgage Bankers Association's Weekly Applications Survey, demand for mortgage applications fell 4.1 percent last week from the week before. But though there was another increase in average mortgage rates, the decline was not seen as solely a reaction to higher rates. In fact, the drop was seen, at least partially, as a response to volatility in the stock market last week. Joel Kan, an MBA economist, told CNBC he still expects activity to grow as we enter the spring season. “Refinance activity is … [Read more...]

A “bedroom community” refers to a suburb outside a major metropolis where the majority of residents commute to the city for work. These town have a number of characteristics that identify them but, according to new research from NeighborhoodScout, they are also known for safety. In fact, these suburban cities topped their most recent list of the nation's safest cities. Andrew Schiller, CEO of NeighborhoodScout, says bedroom communities combine features that are attractive to home buyers. “We continue to see bedroom … [Read more...]

Equity is among the main arguments in favor of homeownership. After all, as you pay your mortgage each month, you are, in essence, putting away money that you will be able to draw from should you ever sell your house or take out a home equity loan. In short, homeownership can act as a type of forced savings account. The results of the Federal Reserve's most recent Survey of Consumer Finances provides some evidence of this. According to the survey, homeowners over the age of 55 held $10.6 trillion in residential … [Read more...]

Without the benefit of two incomes, single home buyers face some added challenges when looking to buy a house. For one, it takes longer to save for a down payment. In fact, according to a new analysis, married or partnered couples can save a 20 percent down payment on the typical home in less than five years. For single home buyers, it takes closer to 11 years. Add to that, single home buyers are more likely to be looking for a smaller, affordable home – which is precisely the type of house that is currently in … [Read more...]

As spring approaches, there's always an increase in the number of Americans who express interest in buying or selling a house. For many reasons, spring is traditionally the season when the housing market heats up. So, it's no surprise that Fannie Mae's most recent monthly measure of Americans' feelings about the housing market shows an increase in optimism. In fact, the number of survey respondents who said now was a good time to buy a house rose 3 percent from the month before and the number who feel it's time to … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates rose again last week. In fact, increases were seen on 30-year fixed-rate mortgages with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year loans. But, despite rising rates, purchase application demand – or the number of potential home buyers requesting applications for loans to buy homes – is still up 8 percent over last year at the same time. That means, home buyers … [Read more...]

If you're buying a house – rather than having one built to your specifications – you're going to have to compromise. You're probably not going to find everything on your wish list in one house, and certainly not in a home that also just happens to be perfectly in your price range. Which is to say, the home buying process will force you to make decisions about what matters most to you and what you would like but can live without. How you make these decisions will be based, in part, on your particular needs and goals … [Read more...]

Though there is usually a lot of focus on first-time and younger home buyers, they aren't the only Americans looking to make a move. In fact, according to the National Association of Home Builders' 55+ Housing Market Index, older Americans are increasingly interested in buying a home and it's led to a strengthening in the market. Robert Dietz, NAHB's chief economist, says growing demand among older buyers is consistent with what's happening in the market overall. “The strong performance of the 55+ HMI at the end of … [Read more...]

Naturally, as home prices have increased, so too has the amount of profit homeowners see when they sell their home. Now, according to new numbers from ATTOM Data Solutions, homeowner profits have reached their highest point in more than 10 years. In fact, according to their Q4 2017 U.S. Home Sales Report, the average home seller profit has reached 29.7 percent return on investment compared to the original purchase point. Daren Blomquist, senior vice president at ATTOM, says now is the most profitable time to sell … [Read more...]

If you look at just about any reading of the current housing market, you'll find that there are a lot of Americans interested in buying a home right now. Whether it's because of pent-up demand that built up in the years following the housing crash or a drive to buy now while mortgage rates are still well below their historical norm, the fact is buyer demand is high. The most recent National Association of Realtors' Pending Home Sales Index provides more evidence of this. That's because the index – which measures … [Read more...]