Freddie Mac reports that the 30-year fixed mortgage rate rose to 4.47% this week – to obtain that rate a borrower would have to pay 0.7 in points/fees.
- Renters Paying Substantially More While Owning Costs LessIn a recent Insights Blog, CoreLogic reported that rent prices have skyrocketed since 2005. Meanwhile, the typical mortgage payment has actually decreased. “CoreLogic’s national rent index was up 36% in December 2018 compared with December 2005, while the typical mortgage payment was down 4% over that period.” Why the difference between the costs of renting […]
- New Study Reveals One Surprising Reason for the Inventory ShortageThere has been a great amount written on millennials and their impact on the housing market. However, the headlines often contradict each other. Some claim this generation is becoming the largest share of first-time home buyers, while others claim millennials don’t want to own a home, blaming them for the dip in homeownership rate. While […]
- With Inventory Low: Will Your Dream Home Need Some TLC?According to a new survey from Move.com, the wave of first-time homebuyers hitting the market this summer has resulted in an interesting statistic. Nearly 60% of buyers searching for a home this spring are willing to consider buying a fixer-upper, with 95% believing that the projects needed will increase their new home’s value! Realtor.com’s Chief […]
- Renters Paying Substantially More While Owning Costs Less