According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates rose slightly last week, with increases for 30-year fixed-rate loans with conforming loan balances and loans backed by the Federal Housing Administration. Jumbo loans were unchanged from the week before. But, despite the week-over-week rate increase, demand for loans to buy homes remains higher than last year at the same time. Joel Kan, MBA's associate vice president of economic and industry forecasting, says the … [Read more...]

Young Americans' financial health is an important factor in the housing market. After all, first-time home buyers historically have accounted for almost half of all home sales. So whether or not younger Americans are ready to buy has an impact on home sales, inventory, prices, etc. That's why new data from the National Association of Realtors' consumer website is illuminating. The research shows that the average student loan borrower owes $34,500, which is $8,500 more than the typical down payment of $26,000. In … [Read more...]

Everyone knows real estate is about location. If you're looking to buy a house, the zip code you're searching in will play a big role in determining the price of homes you find and the amount of competition you face from other home buyers. In short, conditions can vary widely from one neighborhood to the next. That's why, though there are areas in the country where affordability is a concern and finding a home that fits your budget can be difficult, there are also areas where homes are still affordable to people … [Read more...]

If you've lived in a home for a while, you've likely let some things go. Which means, when it comes time to sell, you'll probably have a pretty substantial to-do list to get done before your home's ready for sale. But though getting your house ready to put on the market can be stressful for home sellers, it isn't the top thing that causes them stress, according to a new survey. In fact, the number one thing that stresses out sellers is timing. Selling a house within a desired time frame was named by 56 percent of … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates fell sharply last week. In fact, rates were down across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. The decline brought mortgage rates to their lowest level since August. Joel Kan, MBA's associate vice president of economic and industry forecasting, said falling mortgage rates led to a … [Read more...]

When you're ready to buy a home, the market conditions you encounter will partly be determined by your price range. First-time home buyers looking for an affordable, entry-level home will find very different conditions than someone looking to spend $750,000 on a house. Why is that? Well, the short answer is inventory. How many available homes there are in a particular price range will dictate how much competition buyers encounter and how fast prices are rising or falling. These days, for example, the high end of … [Read more...]

Fannie Mae's monthly Home Purchase Sentiment Index is a monthly gauge of how Americans feel about the housing market, economy, and their personal financial situation. The survey asks participants for their opinions about home prices, mortgage rates, their job, income, and whether or not they think now is a good time to buy or sell a home. According to the most recent release, respondents are feeling optimistic about the housing market but are beginning to feel less confident about economic conditions and job … [Read more...]

When you're young, there are many things that might lead you to look for a new place to live. Maybe you're moving because you want to be closer to a new job or you've started a family and need more space. Whatever the case, there's nothing strange about being on the move when you're young. But, according to a new analysis, young adults in America today are moving more often than previous generations did. In fact, the percentage of 25-to-34 year olds who have lived in their home for less than two years has risen to … [Read more...]

According to the latest Applications Survey from the Mortgage Bankers Association, average mortgage rates fell last week from the week before. Rates were down 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. Naturally, the decline led to an increase in demand for mortgage loans. In fact, application demand was up 8.1 percent from the week before. Joel Kan, MBA's associate vice president of economic and industry … [Read more...]

Freddie Mac's most recent forecast is good news for anyone concerned that there's trouble ahead for the housing market. That's because, despite recent reports of a potential economic slowdown, the market is well positioned to remain strong. Why? Well, Sam Khater, Freddie Mac's chief economist, points to mortgage rates as one factor stirring interest in buying a home. “Despite fears of an economic slowdown, the housing market continues to be a bright spot in the economy,” Khater said. “While mortgage rates have … [Read more...]