A growing economy, rising household formations, low mortgage rates and pent-up demand will help single-family housing production to rev up in 2015 while a growth in renters will keep the multifamily market at cruising altitude or higher, according to economists who participated in a recent National Association of Home Builders (NAHB) 2014 Fall Construction Forecast Webinar.
Clear Capital recently released its Home Data Index™ (HDI) Market Report with data through October 2014, which looked at the way colleges and universities are having an effect on housing across the country. Metros with noteworthy university influence are at the top of their class, with home price trends far outperforming national rates of growth since 2004. A sample of …
Home prices rose slightly at 0.2 percent in August, slower than the 0.6 percent rise in July, according to the S&P/Case-Shiller 20-city composite index released Tuesday. However, data through August 2014, released this week in the S&P/Case-Shiller Home Price Indices, continue to show a deceleration in home price gains. The 10-City Composite gained 5.5 percent year-over-year and the 20-City 5.6 …
As reported by the AP, new rules adopted yesterday by six federal agencies include the removal of a big stumbling block for would-be borrowers: the 20 percent down payment if a lender didn’t hold at least 5 percent of the mortgage securities tied to those loans on its books. According to the AP article, which appeared on abcnews.com, the final …
Later this week, after several years of back-and-forth debate. U.S. regulators are finally set to finalize a more relaxed set of mortgage standards. This new set of rules will be a win for the real estate industry, with the projected agreement much more moderate than the mortgage security standards proposed back in 2011. The federal reserve is scheduled to hold …
The majority of millennials plan to purchase a home with credit, according to a recent survey of Americans and their credit behavior commissioned by BMO Harris Bank. The survey found that 81 percent of millennials will use a line of credit versus a mortgage or loan when purchasing a home, differing from attitudes expressed by the Sandwich Generation.
Nearly two out of three applications for mortgages to buy a home were approved in August, a new high for purchase loan approvals. The closing rate is a new high for Ellie Mae’s monthly Origination Insights reports, which began in late 2011. Since November 2011, the purchase loan average closing rate has risen 9.9 percent. However, refi closing rates have …
Large lenders’ expectations that underwriting standards will ease over the next three months coincide with overall lenders’ expected pullback in the demand for single-family purchase mortgages, according to results from Fannie Mae’s third-quarter Mortgage Lender Sentiment Survey. The share of lenders who expect purchase mortgage demand to go up over the next three months decreased significantly – between 26 to …
Most sellers are really interested in making a great first impression and there is nothing wrong with that, it can mean the difference between a great or unprofitable sale after all. The following are some tips that can help you create a killer first impression on potential home buyers:
