Archives for September 2016

Contract Signings Hit Late Summer Slowdown

In August, the number of signed contracts to buy existing homes dropped 2.4 percent from the month before. The numbers, released by the National Association of Realtors, indicate a few things important to prospective buyers and home sellers. First, because contract signings … [Read more...]

Survey Finds Average Mortgage Rates Down

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates decreased last week across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, … [Read more...]

Are Down Payment Misconceptions Holding Buyers Back?

New research shows many potential home buyers have misconceptions about how much they need to have saved for a down payment. The most often cited amount is 20 percent of the price of the house. But, depending on the type of loan, it could be much less and large numbers of … [Read more...]

New Home Sales Fall After Spiking In July

Sales of newly built, single-family homes fell in August after rising to the fastest sales pace in 9 years the month before. The data, released by the U.S. Census Bureau and the Department of Housing and Urban Development, shows new home sales down 7.6 percent … [Read more...]

Does The Buying Season Really Start In Fall?

Traditionally, the housing market heats up in the spring and continues to sizzle through the summer months. There are many reason this is true – including more favorable weather and the school year. However, if you're able to choose when you buy your next home, spring and … [Read more...]

Typical Home In August Sold In 36 Days

In August, the typical home for sale sold in just 36 days, according to new data from the National Association of Realtors. That's 11 days quicker than last year. Additionally, nearly half of all homes sold were off the market in less than a month. Homes are selling faster … [Read more...]

Average Mortgage Rates Up Over Week Before

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates increased last week across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, … [Read more...]

Permits To Build New Homes On The Rise

New numbers released by the U.S. Census Bureau and the Department of Housing and Urban Development show the number of authorized permits to build single-family homes rose 3.7 percent in August. That encouraging news was the bright spot in an otherwise lackluster August … [Read more...]

How Builder Confidence Affects Home Prices

You may not have given any thought to whether or not home builders are feeling optimistic about the market but it has something to do with you. Whether you're a prospective home buyer or an owner looking to sell their house, the new home market plays a role. That's because, … [Read more...]

Price Gains Boost Homeowners’ Bottom Line

One of the traditional arguments in favor of homeownership is that it helps build wealth. That's based on the fact that, as you pay your off your mortgage, you are gaining an ever-larger percentage of ownership. The other part of that equity equation is dependent on rising … [Read more...]