Mortgage financing giants Fannie Mae and Freddie Mac are reportedly considering providing financing to buyers of manufactured homes soon in a pilot program.The government-sponsored enterprises say they want to look at easing the burdens of low-income borrowers who may turn to factory-built homes to curb housing costs, according to a draft report released Monday where Fannie and Freddie addressed affordable housing challenges. Fannie and Freddie s
Luxury real estate buyers may find bargains in the U.S. compared to the rest of the world. The U.S. is hardly the most expensive when it comes to home prices in its luxury market.Instead, China takes the world crown in that arena for the fastest-rising prices in luxury residential real estate around the world. Luxury home prices in Guangzhou, the capital of the southern province of Guangdong, rose a whopping 36.2 percent from March 2016 to March
With home prices on the rise, more home values are climbing up above water, but in a few cities, the number of seriously underwater homes is still alarming.Profile of Seriously Underwater HomesThe following are some characteristics of properties that are seriously underwater, according to ATTOM Data Solution’s report. 8% of properties with an estimated market value of $100,000 or less were seriously underwater; 9.3% of properties valued between
You may need to do less convincing to get home shoppers to make their move in the housing market. Fannie Mae’s Home Purchase Sentiment Index rose 2.2 percentage points in April, with five of six components rising that measure confidence in buying, employment, household incomes, financing, and more.The share of Americans who say now is a good time to buy rose 5 percentage points in April. However, the net share of those saying now is a good time
Soaring home prices aren't denting investors' appetite in many markets. "We are seeing more investors and new investors," says Steve Hovland, director of research at HomeUnion, a real estate investment marketplace. "The Fed has really been helping us out. Interest rates are not as high as they have been in past cycles. Commercial real estate is overheated. The bull stock market has been running for a long time, so investors are looking to diversi
Several states are offering homeownership assistance programs to recent college grads that may help them receive thousands of dollars toward the purchase of a home. In New York, Gov. Andrew Cuomo recently announced the "Graduate to Homeownership" program, which provides assistance to first-time buyers who have graduated in the past two years from an accredited college or university with an associate's, bachelor's, master's, or doctorate degree. P
The number of U.S. properties considered "equity rich" has increased by nearly 1.4 million units from a year ago, according to the First Quarter 2017 U.S. Home Equity & Underwater Report produced by ATTOM Data Solutions. Now, more than 13.7 million homes—or about a quarter of all U.S. residential properties—fall within that category, which means the combined loan amount secured by the property is 50 percent or less than its estimated mark
Real estate markets in many cities are now even stronger than they were before the most recent housing crash. Last year, the national median home price rose to $227,000—even higher than its 2005 peak of $220,400. Home prices nationally have grown 26 percent since hitting bottom in 2011. At the local level, some markets are doing better than others.Realtor.com® analyzed the 150 largest metros in the country to find the cities that have rebounde
New-home construction is now taking place at around 1.2 million units annually, a welcome pickup to many buyers following years of slumps after the Great Recession. But a tight labor market means the workers have yet to return, and that lack of labor is increasing construction costs.When construction activity gained steam in 2012, the problem started to surface, and it has increased ever since, according to industry reports.“The share of builde
Mortgage rates were mostly in a holding pattern this week, which may have been welcome news to borrowers after last week’s uptick.“The 10-year Treasury yield remained relatively flat this week, as did the 30-year mortgage rate, which fell 1 basis point to 4.02 percent,” says Sean Becketti, Freddie Mac’s chief economist. “Markets have been erring on the side of caution following a weak advance estimate for first-quarter GDP and the FOMC
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