Fixed-rate mortgages have been inching lower in recent weeks, but the percentage of borrowers being tempted by the even lower rates of adjustable-rate mortgages is rising. ARMs posted the highest share of originations in December since Ellie Mae, a maker of software used to process mortgage applications, began tracking them in 2011.The share of ARMs reached 9.2 percent in December 2018, up from a 5.6 percent share a year prior, accordin
Many homeowners are still seeing big profits when they go to sell. Homeowners who sold in the fourth quarter of 2018 sold for an average of $54,500 more than their original purchase price, according to a new report released by ATTOM Data Solutions, a real estate data firm. That is an average of a 30.2 percent return on the original purchase price, up from an average of 25.6 percent a year prior, the report says.But in some markets, home sellers a
Young adult home buyers aren’t afraid to buy a home in need of some major TLC. Sixty-seven percent of millennial home shoppers who participated in a recent Clever Real Estate survey of 1,000 U.S. residents in the market for a home said they would put in an offer on a property in need of major repairs.Millennial home buyers are taking a long-term view when buying, the Clever Real Estate survey found. They also tend to value safe neighborhoo
National Association of REALTORS® Senior Vice President of Government Affairs Shannon McGahn said a deal reached between President Donald Trump and congressional leaders to reopen the federal government for 21 days while they negotiate a long-term funding agreement is a welcomed development.“Although the direct impact on real estate markets has so far been limited, the broader economic impacts of the shutdown, if it persists, will be very dama
Moving may help homeowners see higher profits from the sale of their property, suggests a new study that links homeowners’ tenure in their homes to price appreciation. Cities where residents live in their homes for the shortest amount of time tend to see more than double the appreciation experienced by homeowners who stay put the longest, a new study from LendingTree finds.The study from LendingTree ranks cities by how long homeowners have live
Mortgage rates have mostly stabilized this month and are now essentially at the same point they were last spring, but that hasn't yet given a boost to home sales, which declined over the same period.“Given that the economy remains on solid footing and weekly mortgage purchase application activity has been strong so far in 2019, we expect the decline in home sales to moderate or even reverse over the next couple of months,” says Sam
An estimated tens of thousands of loans and mortgages have had private data compromised online, according to an investigation from a security researcher and TechCrunch. The sensitive information that was found mostly dated back to 2008 and included loans from banks like Wells Fargo and Citigroup, among others.The banks are reportedly in the process of trying to identify the customers affected and inform them of any possible account hack
A hedge fund billionaire is on a real estate purchasing spree. Ken Griffin, founder and CEO of Citadel, purchased the most expensive home ever sold in the U.S.—a New York penthouse overlooking Central Park—for $238 million. Griffin’s latest purchase solidifies his love for real estate, adding to his other $700 million in global real estate purchases. Griffin is becoming known for his real estate record deals—he has also purchased the
Which states are growing the fastest and adding new residents? Idaho and Nevada once again lead the states in population growth rates, according to the latest U.S. Census Bureau figures. Demographic changes can be key to projecting future housing needs, the National Association of Home Builders explained on its Eye On Housing blog post analyzing the census numbers.Between July 1, 2017, to July 1, 2018, Nevada posted a population growth rate of 2.
The National Association of REALTORS® is calling a recent ruling from the U.S. Treasury Department and the Internal Revenue Service on the new 20 percent deduction on qualified business income a “significant victory” for real estate professionals. The department and IRS issued their final regulations late last week regarding the qualified business income rule, providing greater clarity heading into the 2018 tax filing season.The final guidel
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
