Sales of existing homes hit their highest levels since October when the numbers for June were calculated. 5.04 million homes were sold in June, and this was the first time existing home sales were above 5 million since October. While this represents an increase, sales were still 2.3% lower than June of last year. Sales Read More »... Read more ›
Here are five predictions for the housing market in 2015. 1. Millennials Will Become First-Time Home Buyers Millennials will be looking to invest in their futures. Millennials between ages 25 and 34 make up 65% of first time home buyers, while 86% of them state that their motivation is a change in family circumstances, such Read More »... Read more ›
According to a recent report by the Congressional Budget Office, the nation’s deficit is shrinking. From the fiscal year 2013 to 2014, the deficit dropped from 4.1%to 2.8%of GDP. In hard numbers, America went from $675 billion in debt to roughly $480 billion. This decline is attributed to an improving economy, higher taxes and continued Read More »... Read more ›
Over $1 trillion in equity was earned by one million homeowners over the year ending in June 2014. With that gain, roughly 44 million of the 49 million homes with mortgages have positive equity leaving just 10% underwater. The number of underwater homes is down from 12% in the first quarter of 2014 and down Read More »... Read more ›
The housing crisis and economic collapse that the United States and many other countries all over the world experienced in the last few years devastated the housing market. The sheer number of foreclosures skyrocketed overnight. And with the sudden influx in housing inventory on the market due to foreclosures, home prices plummeted as a result. Read More »... Read more ›
Recently, the housing market has shown strong and convincing evidence of getting back on track. The most recent State of the Nation’s Housing report by the Harvard Joint Center for Housing Studies supports this. Housing was stronger in 2013, so the faltering in home construction, sales and home prices at the beginning of 2014 had Read more ›
Importance of Timely Mortgage Payments The economy is tough on everyone right now. You may find yourself with the unenviable task of deciding which bills must be paid now, and which ones can wait another few weeks or even until next month. You are definitely not alone in this situation. If you need to pay Read More »... Read more ›
Another Week of Lower Fixed Rate Mortgages Fixed rate mortgages experienced their fifth consecutive week of lower rates last week, according to a new Primary Mortgage Market Survey that was released by Freddie Mac. These rates represent new lows for 2014 and the average price is actually at its lowest point since the final week Rea... Read more ›
It’s a good time to sell your home now! The most recent National Housing Survey has indicated that Americans are feeling more confident about their employment situation and more optimistic about home pricing and interest rates. The numbers are showing a very encouraging trend: A record survey high of 42 percent of survey respondents now say that Read more ›
Mortgage rates Trended down Late last week after the release of weak economic data, including a higher unemployment rate and mortgage rates trended down! This is after last month saw a slight increase, according to Freddie Mac’s Primary Mortgage Market Survey. Fortunately for current and prospective homeowners, interest rates continue to be very affordable. Through early R... Read more ›
