Many home buyers – both first time and experienced – work with loan officers. However, first time home buyers are more likely to report challenges with understanding the mortgage process and the options available to them. Of First Time Buyers: 41% said their representative completely explained the types of loans, terms, special programs, fees, and
It’s Tuesday News Day and these are this weeks hot topics concerning the real estate market, the financial industry, general housing market conditions, and interest rates.
One of the hottest debates among housing economists these days isn’t the trajectory of home sales, mortgage rates, or home prices, but whether Millennials prefer to live in the city or in the suburbs. Where do Millennials prefer to live? 66% responded in the suburbs 24% responded in rural areas 10% responded in a city
Points, sometimes also called a “discount point”, are a form of pre-paid interest. One point equals one percent of the loan amount. For instance, for a $100,000 loan one discount point equals $1,000. The reason home buyers buy points is to reduce the interest rate on their mortgage. The rate for your mortgage is usually decided
It’s Tuesday News Day and these are this weeks hot topics concerning the real estate market, the financial industry, general housing market conditions, and interest rates. San Jose Mercury News – Housing affordability at forefront of CA REALTOR® concerns California’s housing affordability is at the forefront of REALTOR® concerns, and CALIFORNIA ASSOCIATION OF REALTORS® CEO Joel Singer
Many people under 30 are currently renting even in today’s housing market. Sometimes renting is about staying mobile, for other’s it may be necessary to land a better job elsewhere. It isn’t too surprising though that many millenials are still looking to buy a home. 50% have a positive attitude toward the buying process 33%
New York Times – How Are American Families Doing? A Guided Tour of Our Financial Well-Being A new report from the Federal Reserve’s Survey of Consumer Finances presents a comprehensive overview of the personal finances of Americans. Thousands of American families (6,026) were interviewed about their income, savings, investments, and debts to capture the financial well-being of
The majority of renters who plan to purchase a home soon don’t expect to move far away when they do. More than half will stay in the same county, if not the same neighborhood. Where are renters moving to? 41% stay in the same county where they currently reside 23% don’t know where they will