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Home Sales Hit 2006 Levels, ‘Continue to Amaze’

Home Sales Hit 2006 Levels, ‘Continue to Amaze’

Home sales climbed in August to the likes of the 2006 housing boom days, despite the COVID-19 pandemic. Existing-home sales in each of the four major regions of the U.S. saw month-over-month and annual growth, the National Association of REALTORS® reported on Tuesday. The Northeast saw the largest monthly improvement in home sales. Housing inventories […]

Create the Most Inviting Outdoor Space

Create the Most Inviting Outdoor Space

No matter how big or small a home, terraces, porches, or backyards are skyrocketing in importance to buyers and owners. After sheltering in place from the COVID-19 pandemic, more homeowners are looking to extend their spaces to the outdoors. House hunters may be putting more weight on listings that have a yard with cozier spaces […]

‘I’d Risk COVID-19 Exposure for My Ideal Home’

‘I’d Risk COVID-19 Exposure for My Ideal Home’

A surprising number of house hunters have declared just how important it is to find their dream home during the global health crisis, even at the risk of their own health. In a recent survey conducted by Helitech, a foundation repair company, 37% of 980 buyers said they’d “risk COVID-19 exposure to obtain my dream […]

Mortgage Rates Remain at All-Time Low

Mortgage Rates Remain at All-Time Low

The 30-year fixed-rate mortgage stayed at its record low this week, offering an opportunity for home buyers to lock in the lowest rate in Freddie Mac’s records dating back 50 years. The 30-year fixed-rate mortgage averaged 3.13% this week. The mortgage market has seen a resurgence in applications for home purchases in recent weeks. “The […]

FHFA Won’t Require Lump-Sum Payment After Forbearance

FHFA Won’t Require Lump-Sum Payment After Forbearance

The Federal Housing Finance Agency, which regulates mortgage giants Fannie Mae and Freddie Mac, said Monday that it will not require homeowners who take mortgage forbearance due to financial hardship from the COVID-19 pandemic to make up the missed payments in a lump sum. The FHFA made the announcement after news stories cautioned that homeowners […]

How COVID-19 Is Affecting the New-Home Market

How COVID-19 Is Affecting the New-Home Market

The new-home market was showing a strong first quarter in 2020 until the pandemic hit. Sales of newly built single-family homes decreased 15.4% in March to a seasonally adjusted annual rate of 627,000 units, according to data released Thursday from the U.S. Census Bureau and Department of Housing and Urban Development. Sales were 9.5% lower […]

Homeowners Facing Hardship Get Mortgage Payment Leeway

Homeowners Facing Hardship Get Mortgage Payment Leeway

Mortgage giants Fannie Mae and Freddie Mac unveiled a payment deferral option for homeowners struggling to make their mortgage payments, regardless of whether the reason is related to COVID-19. Homeowners could be eligible to defer two months of their mortgage payments until the end of their mortgage, depending on their circumstance. The GSEs had intended […]

Housing Starts Rose 3.2% in 2019

Housing Starts Rose 3.2% in 2019

More single-family and multifamily homes are coming onto the market soon as new-home construction posts its biggest gains in 13 years. Total housing starts rose nearly 17% in December to a seasonally adjusted annual rate of 1.61 million units, the U.S. Commerce Department reports. Broken out, starts for single-family homes rose 11.2% to a seasonally […]

97-Year-Olds Can Still Get a 30-Year Mortgage

97-Year-Olds Can Still Get a 30-Year Mortgage

Older Americans may not realize that they can still qualify for a mortgage, even though the Equal Credit Opportunity Act forbids discrimination in the mortgage market on the basis of age. Yet, Mary Babinski, a senior loan officer with Motto Mortgage Champions in Trinity, Fla., told The Wall Street Journal that when a 97-year-old applicant […]

Bidding Wars Hit a 10-Year Low

Bidding Wars Hit a 10-Year Low

Good news for home buyers: Bidding wars are at the lowest point in a decade. But that could be short-lived. In one closely watched industry index measuring bidding wars, just 10% of offers written by real estate professionals with the brokerage Redfin faced competition from other buyers in October, down from 39% a year earlier. […]