The 30-year fixed-rate mortgage reached its highest average since July this week.“The 10-year Treasury yield ticked up 6 basis points, while the 30-year mortgage rate jumped 5 basis points to 3.95 percent,” says Sean Becketti, Freddie Mac’s chief economist. “Today’s survey rate is the highest rate in nearly four months.”Freddie Mac reports the following national averages with mortgage rates for the week ending Nov. 16: 30-year fixed-r
In some ways, selling a parcel of land and selling a house are two different animals. Vacant land involves marketing its potential to an audience of developers and investors, and the main selling points lie in the location, size, and price, says Desare Kohn-Laski, broker-owner of Skye Louis Realty in Coconut Creek, Fla. “The principles might be similar in some ways, but there are still notable differences that make the endeavor challenging,”
As anniversaries go, it's a nerve-racking but inescapable one: It's been 10 long years since the widespread real estate crash that precipitated the Great Recession, and all the misery that followed in its wake. So it seems like the perfect time to take a giant step back, peruse and analyze all of the data, and assess what has really happened to the American housing market in the decade since.So where are we, really?Ever-steeper home prices:
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Snooping online proves to be an easier way of finding out what a homeowner paid for a property. A recent poll of more than 500 homeowners found that 52 percent of respondents admit they have spied online to track how much friends and family paid for their houses, according to a poll by Branded Research.Homeowners say they are simply curious what someone else paid for a property, how much it’s worth currently, and how much is paid in taxes.
The House on Thursday passed a tax reform package that the National Association of REALTORS® calls a tax hike on many middle-class homeowners and says would lower property values for all homeowners. “It’s disappointing to see this legislation move forward, but the real work to shape this debate is just getting started,” NAR President Elizabeth Mendenhall said in a statement.The bill, called the Tax Cuts and Jobs act, was passed by a vote o
With a seller’s market in many places across the country, why are so many homeowners reluctant to sell? Nearly 80 percent of more than 1,000 homeowners recently surveyed say they believe now is a good time to sell a home, but many don’t plan to list their homes anytime soon.Numerous would-be sellers say they’re holding off because of the high price they’d have to pay for their next home, according to ValueInsured’s latest quarterly Mo
For home shoppers looking to live in a mansion, they’ll find their money stretches the most in Arkansas. Home shoppers pay a median of $63 per square foot in the state, and the median cost of an 8,000-square-foot mansion is $504,000.Consumers who like big homes will find that mansions—homes of at least 8,000 square feet—are significantly more affordable in some parts of the country than others.GOBankingRates crunched realtor.com® data to
Richard Cordray, director of the Consumer Financial Protection Bureau, said on Wednesday that he would be leaving his post at the end of the month. Some organizations and lawmakers view this as an opportunity to restructure the financial watchdog agency.The CFPB was established about six years ago as part of the Dodd-Frank Act. Its goal has been to investigate financial abuses on accounts such as mortgages, bank accounts, student loans, and cred
Mortgage lenders believe first-time home buyers will make up a larger portion of their business in the new year, and they believe 3 percent mortgages are key to getting more into homeownership. The majority of the 200 lenders surveyed by Genworth Mortgage Insurance believe that the demand for 97% loan-to-value products will surge in 2018.“As long as the underwriting is strong, borrowers going into higher LTV loans is completely prudent and safe
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