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More Lenders Offering Subprime Mortgages
Many lenders are now beginning to offer subprime mortgages to those with credit scores under 640. After the housing bubble burst, many borrowers with poor credit scores were eliminated from the mortgage market, but according to recent data, many of these borrowers are...
Consumer Confidence Jumps 4.4 Points
The Conference Board's consumer confidence index increased by 4.4 points, averaging 81.7, the highest level seen since early 2008. This new data suggests that now is a great time for buying a home. The Director of Economic Indicators at The Conference Board, Lynn...
Experts Give Spring Selling Tips
According to 2014 spring housing market data, this year will be prime time to sell. Mortgage rates are still historically low, and many sellers have been putting off selling their homes until the brutal winter has come to an end. Experts say there are a few things to...
Reverse Mortgages Grow In Popularity With Baby Boomers
Many baby boomers are turning to reverse mortgages for extra income, according to recent data. Loan percentages are expected to increase over the next several years as 77 million baby boomers make their way into retirement, and new reverse mortgage rules have been put...
Mortgage Rates Decrease Slightly
Mortgage rates fell this week after last week’s increase, according to Freddie Mac's Primary Mortgage Market Survey. The 30-year, fixed-rate mortgage fell 0.5% averaging 4.32% nationally this week. While the 15-year, fixed-rate mortgage also declined 0.6%, averaging...
More Consumers Make Paying Mortgage Debt A Priority
New data released by TransUnion states that, as hiring increases and the housing market continues to improve, more consumers are making mortgage payments a priority once again. An increasing number of homeowners are beginning to pay off their mortgages instead of...
Millions of Renters Want To Buy In the Next Year
The number of Americans who want to buy a home this year is growing, but following through with the act may be a difficult task. Zillow's chief economist Stan Humphries said, "the dream of homeownership remains very much alive and well, but these aspirations must also...
Housing Market Index Increases In March
According to the National Association of Home Builders, home builder sentiment in the United States increased this month. The NAHB/Wells Fargo Housing Market index jumped one point from last month averaging 47, still lower than many economists had predicted for March....
Experts Advise Explaining Reverse Mortgage To Heirs
According to reverse mortgage rules, when the owner of a home enrolled in a reverse mortgage moves out of the current home or passes away, the loan payoff is due shortly after, leaving many heirs in a complicated financial situation. Experts are encouraging people to...
Home Prices And Supply Grow
Home prices have jumped, and in turn, an increasing number of houses have been put on the market, increasing supply in many U.S. cities. The median home price averaged $199,000, up 7.6% from this time last year. Home sellers and economists are hoping for a large...