Homebuyers are entering the market at a much brisker pace than many economists forecasted. Mortgage applications for home purchases continue their upward streak, rising 9% last week compared to the previous week, the Mortgage Bankers Association reports. This marks the sixth consecutive gain for home purchase applications and a 54% increase since early April.“The home purchase market continued its path to recovery as various states reopen, lead
Don’t just make your client happy—consider their animal companions too. After all, nearly 95% of pet-owning home buyers say their pet’s needs play a role in selecting a home. In fact, 68% of pet owners say they would pass on the perfect home if it didn’t meet what their pet’s needs, according to a new survey based on more than 2,000 consumer responses released by realtor.com®. Consumers between the ages of 35 and 54 were the most likel
For those financially impacted by the COVID-19 pandemic, knowing where to look for updates on information about aid programs has proven challenging. But several government agencies have stepped in with resource tools to help homeowners and renters.The latest comes from mortgage financing giants Fannie Mae and Freddie Mac, which launched new initiatives to help homeowners and renters who have been affected by the pandemic.Fannie Mae launched “He
New homes are proving a draw to home shoppers, particularly during the pandemic. Newly built single-family homes increased 0.6% in April, reaching a seasonally adjusted annual rate of 623,000, the U.S. Department of Housing and Urban Development and U.S. Census Bureau reported Tuesday. While sales eked out a monthly increase, they are still 6.2% lower than a year ago.However, builders point to the unexpected uptick in April, as many companies wer
The soldiers that have fought and served the United States of America are remembered. We honor and appreciate all of the sacrifices and will forever hold them in our debt.
The 30-year fixed-rate mortgage continued to near its lowest average on record. The lowest average on Freddie Mac records dating back to 1971 is 3.23%, which was set the week ending April 30. This week, 30-year fixed-rate mortgages averaged close to that, at 3.24%.“For the fourth consecutive week, the 30-year fixed-rate mortgage has been below 3.30 percent, giving potential buyers a good reason to continue shopping even amid the pandemic,” sa
Homeowners are prioritizing remodeling projects centered around home offices and master bedrooms during the pandemic, according to a new survey of 1,000 consumers by Houzz, a home renovation and resource site.While consumers put off some remodeling projects when the coronavirus outbreak first began in the U.S., they were less likely to put off projects related to those two areas of the home. Also, outdoor remodels and improvements have been prior
The number of homes for sale has shrunk since the COVID-19 pandemic began. Some sellers pulled their listings, making it tougher for buyers to find a home and compounding the issue in many markets that were already inventory-starved before the pandemic.Indeed, protections against COVID-19 have exacerbated the housing shortage, realtor.com® reports. In April, the number of new listings fell 45% year over year.“Inventory has been low and has con
Buyers are reemerging in the housing market much faster than anticipated. Mortgage applications are often an indicator of future home buying activity, and applications for home purchases have increased for five consecutive weeks. After increasing 6% last week compared to the previous week, applications for home purchases are now just 1.5% lower than a year ago, the Mortgage Bankers Association’s seasonally adjusted index shows.The rebound is si
Which lenders are offering some of the lowest rates? Their historical track record may offer some insights into which banks borrowers may want to investigate.The Mortgage Reports analyzed data on every loan from the 24 largest lenders in 2018 and 2019 to identify which tended to offer the lowest interest rates and fees.The lenders topping their list for most competitive 30-year mortgage rates are:USAA: best mortgage rates and fees combined (milit
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.