According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell last week 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 were mostly flat from the week before. Declining rates led to a bump in mortgage demand which increased 0.7 …
The low supply of homes for sale has been the housing market’s primary issue for years now. That’s why an unexpectedly positive report from the U.S. Census Bureau and the Department of Housing and Urban Development is an encouraging sign for home buyers. The report shows the inventory of new homes for sale in May …
For home buyers, affordability is always a top concern. That’s why news of home price increases and rising mortgage rates has some buyers feeling hesitant about their home purchase plans. But while affordability conditions have certainly changed from last year, one new measure of monthly mortgage payments found they were relatively flat in May. The …
These days, most buyers start their home search online. In fact, according to one analysis, 97 percent of recent home buyers used the internet while shopping for a house. That means almost everyone searching for a house is looking at photos of listings before heading out to see available homes in person. That makes photography …
New data from the National Association of Realtors show sales of previously owned homes fell in May. Existing home sales were down 3.4 percent from the month before and 8.6 percent from one year earlier. The decline is evidence that the market is beginning to level off, after two years of frenetic activity. Lawrence Yun, …
You can certainly buy a home without thinking about your budget, but it’s not advisable. Without a clear understanding of what you’ll be spending and where you’re more likely to get yourself into financial trouble. After all, what you can afford is often different than what you can afford comfortably. That’s why it’s smart for …
Home builders are a good gauge of where the housing market is headed. After all, their business depends on being able to tell when and where home buyers are looking to buy. So their perspective on the market for new homes is considered a good indicator of housing health. The National Association of Home Builders …
The standards lenders use to determine whether or not a borrower is approved for a mortgage aren’t fixed. There are times when it’s easier to qualify and times when it’s more difficult. Because of this, the Mortgage Bankers Association tracks whether lending standards are loosening or tightening. Their monthly Mortgage Credit Availability Index measures how …
