For 42 consecutive months, the Home Price Index has risen. It was up 6.9 percent from August 2014 and included distressed sales. The boost in home prices in the lower end of the market means owners at that level are finally seeing a rise in equity. Colorado and Washington are two states enjoying double-digit yearly price increases. Nevada and Oregon
For years following the Great Recession, many Americans were unable to refinance due to a lack of equity. However, Black Knight Financial Services reports that as a result of increases in home values, people have been able to refinance and even take advantage of cash-out refinances. Based on data from Black Knight’s Mortgage Monitor Report, home equity rose nearly a
Although month-to-month pending home sales in California declined slightly, August marks 10 straight months of year-to-year gains according to the California Association of Realtors (CAR). However, realtors in the state have responded to the latest Market Pulse Survey from CAR by saying that sales on homes with multiple offers were down, which is a telltale sign of reduced competition among
Mortgage rates are directly affected by U.S. monetary policy is a variety of ways. Mortgage loans are typically insured through a government sponsored enterprise (GSE), which includes agencies like Freddie Mac and Fannie Mae. The loans are then packaged into mortgage-backed securities (MBS) and sold to investors in the bond market. Since bond prices and interest rate yields have an
Lately, the news media has been talking about a possible mortgage rate hike that could discourage homebuyers. The Federal Reserve may decide to raise rates before the end of 2015. Fortunately, a new study reveals that home sales will probably remain brisk despite this change. Interest Impact Although lower loan rates produce significant savings for buyers, they don’t actually cause
The continued decline of completed foreclosures proves that the economy continues to mend itself after the recent recession. In just the last year since July 2014, the number of completed foreclosures has decreased by 24.4 percent, and the national foreclosure inventory itself has dropped 27.9 percent. These figures translate into just over 38,000 homes lost to complete foreclosure in July
The 2015 Survey of California Homeowners was recently released by the California Association of Realtors, and it shows that there have been major changes in the real estate market in the state in the last few years. Additionally, there are some significant differences in the situations of individuals who have owned their home for more than 15 years than compared
Soaring Rental Rates Make Home Ownership Even More Attractive Since ancient times, people have been renting space to provide a roof over the head of their family. This practice continues today with about 36 percent of the American population renting their primary residence. Unfortunately, soaring rental rates may spell bad news for many renters. Get Ready to Pay More The
According to the latest National Delinquency Survey from the Mortgage Bankers Association (MBA), delinquent residential mortgages are at their lowest rate since the second quarter of 2007. This marks a decline in the rate by 24 basis points (BPs) since the first quarter of 2015 and by 74 BPs compared to the second quarter of 2014. The National Delinquency Survey
Even though the real-estate market appears to be making an amazing comeback, economists still say that obtaining a mortgage may be difficult for some potential home buyers. This doesn’t mean that you have to be among the extremely wealthy to buy a home, but those with a troubled credit history may still find it difficult to qualify for a mortgage
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