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Homeownership Rate Returns To Normal After Boom Years
From the 1960s through the 1990s, the homeownership rate was relatively unchanged, staying between 64 and 65 percent. During the last decade, when looser credit conditions and a less risk-adverse attitude toward investing in a house prevailed, that percentage jumped,...
Mortgage Rates Fall To 4.55 Percent
According to the Mortgage Bankers Association's Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages fell to 4.55 percent last week from 4.69 percent the week before. Despite the drop in interest rates, the Market Composite...
Single Women Make Up 20 Percent Of All Home Buyers
A record number of homes are being sold to single people, and especially single women. According to the National Association of Realtors, single women accounted for 20 percent of all home buyers last year, while unmarried men made up 12 percent. Low interest rates and...
Obama Administration Discusses Potential Housing Policy Prescriptions
After early loan modification efforts and the homebuyer tax credit, the Obama administration has begun discussing new potential policy prescriptions aimed at helping further revive the housing market. Allowing Fannie Mae and Freddie Mac to rent, rather than sell,...
Emerging Demographic Means Changes For Real Estate Market
The real-estate market has typically been dominated by homes designed for and sold to families. But with a growing number of households consisting of people living alone or with roommates, changing demographics mean buyers with different standards, requirements, and...
HUD Secretary Sees Historic Housing Opportunity For Buyers
Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, says housing is more affordable than it has been in generations, making it a great time to buy a home. According to Donovan, the severity of the housing crisis means a complete recovery...
Americans Expect Rent To Rise, Prefer To Buy Next Home
Fannie Mae's National Housing Survey polls 1,000 people each month to gauge consumer confidence, attitudes toward owning and renting, mortgage rates, homeownership distress, and household finances. The June survey, which asked homeowners and renters more than 100...
Mortgage Rates, Purchase Demand Increase Last Week
According to The Mortgage Bankers Association's Weekly Applications Survey, demand for home purchase loans rose last week. The Purchase Index was up 4.8 percent from the previous week and 11.7 percent higher than the same week a year ago. But due to a drop in the...
Gov’t Scorecard Finds Prices Up, Delinquencies Down
The U.S. Department of Housing and Urban Development and the U.S. Department of the Treasury's June Housing Scorecard finds positive signs among mixed housing data. The housing scorecard offers key data on the health of the housing market and the administration's...
May Home Price Index Shows Second Consecutive Increase
CoreLogic's May Home Price Index rose 0.8 percent in May compared to April. It was the second-straight month of gains following the 0.7 percent increase the month before. Mark Fleming, CoreLogic's chief economist, said two consecutive months of growth and continued...