Wealthy home buyers are paying lower average rates on jumbo mortgages and sometimes, they don’t even have to come up with a large down payment or mortgage insurance. In the last several months interest rates on jumbo loans (mortgages that are $417,000 or more or …
Everyone wants to be hip, and the latest trends in design can help distinguish one home from another. And it’s not all flash; many new home fads are geared to pare maintenance and energy use and deliver information faster. Here’s a look at what’s coming. …
For the first time in 16 months, inventory of homes available for sale dropped last month, according to the National Association of REALTORS®. Although the decline was slight, less than 1 percent, per month, the drop does indicate “a reversal to the general growth of …
Here are some tips from Bankrate.com on securing a mortgage, getting the best rate, and more. 1. Be prepared to document your finances. Buyers need to prepare for extra review by lenders when underwriting mortgages due to new mortgage regulations that took place in January, …
According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index, nearly 65% of new and existing homes sold between the beginning of October and the end of December, were affordable to families earning an average income of $64,400. This is largely unchanged from …
An average new home size now has increased 300 square feet since 2009. It has increased from an average of 2,362 square feet in 2009, to 2,679 square feet in 2013. With this additional square footage, there are more homes adding more bedrooms, bathrooms, and …
In January, single family new-home sales surged to a five and a half year high, which is giving hope that the new-home sector isn’t going to slow down in Spring after all. New-home sales role 9.6% to a seasonally adjusted annual rate of 468,000 units …
Many homeowners in the U.S. are still dealing with the after-effects of the housing bubble and credit meltdown. However, the foreclosure market is starting to show signs of slowly improving. The amount of completed foreclosures in December dropped 14% in comparison to December 2012. There …
Spring is usually the busiest time of year for the housing market, when more people are putting their homes up for sale. However, the spring selling rush seems to be starting earlier this year. Some homeowners are already putting their homes up for sale to …
Strong price gains are starting to lower housing affordability- especially in the West. The average price of a single-family home rose in 73% of housing markets in the fourth quarter of 2013, 26% of which had double-digit pricing gains. Lawrence Yun, NAR’s chief economist stated …