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Average Home Prices Jump $18,000
According to newly released data, U.S. home prices increased from November to December by 0.3% and 8.5% from one year prior. The average November home price was up approximately $18,000 from November 2012, averaging $232,000. The state of Florida led the U.S. in...
Previously Owned Home Sales Soar
Previously owned home sales jumped last month for the first time in approximately five months, making 2013 the best year for home sales since 2006. Data suggests that the housing market is beginning to adjust to higher borrowing costs. According to the National...
Many Older Americans In Mortgage Debt
Boston College for Retirement Research found through a recent study that many older Americans are deciding to work longer and put off retirement due to large debt, particularly caused by mortgages. For those Americans who cannot continue to work because of disability...
Labor Market Showing Signs Of Growth
American unemployment benefit claims increased marginally last week, but experts say that the labor market is continuing to improve. According to the Labor Department, initial state claims slightly increased to a seasonally adjusted rate of 326,000. The claims report...
Mortgage Rates Fall While Applications Grow
Mortgage applications have increased according to the Mortgage Bankers Association's weekly report while mortgage rates continue to fall. The (MBA) stated that the seasonally adjusted composite index increased 4.7%, and the seasonally adjusted purchase index grew by...
More People Turning To Multifamily Housing Units
New research shows that single-family housing may be decreasing while the rental market continues to grow. Many reports in the U.S. have shown that the rental market is increasing. A large amount of investors are betting on multifamily housing as many younger adults...
Reverse Mortgages Gain Positive Attention
In the past, reverse mortgages may not have been considered a good idea by many, but as the program grows and continues to improve, the option of a reverse mortgage is becoming more appealing. Amy Hoak, a MarketWatch columnist said, “as people live longer due to...
Foreclosure Rates Fall To Six Year Low
According to RealtyTrac, foreclosures in the U.S. last year fell 26% from 2012. 2013 saw the lowest level of foreclosures in six years. The total number of foreclosures, scheduled auctions, notices of default and bank repossessions fell to 1.36 million last year,...
Economy Continues To Strengthen
New research reports that the United States economy is continuing to shape up, and experts expect brighter days to come. Private-sector employment has increased by 200,000 for the last 3 consecutive months, and the trade deficit has decreased to levels that have not...
Changes To Jumbo Loans Go Into Effect
Jumbo loans, loans that exceed $417,000, are on the rise as significant changes have been introduced. The new rules contain both negative and positive aspects, according to many experts. Changes to the program are expected to make credit access more expensive for...