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Baby Boomers, Millennials, Expected to Aid Multi-Family Housing
New statistics state that multi-family housing has declined over recent years. According to Fannie Mae, multi-family housing has declined from 44.8% of occupied rental stock in 2005 to 41.3% in 2001. While experts acknowledge the decrease, construction companies are...
Housing Market Growth Expected To Slow
According to many economists, the U.S. housing market has rebounded, with an impressive amount of progress shown over the past year. New statistics show that the market is beginning to slow down as prices continue to rise and interest rates increase, although rates...
Economy Growth Forecast Hits Highest Level Since 2010
According to researchers, U.S. economy has made significant strides over the last year hitting the largest levels seen in approximately three years. An independent forecasting group, The Economic Cycle Research Institute located in New York, stated that its Weekly...
Mortgage Rates Expected To Change
Freddie Mac stated that mortgage rates remain unchanged from last week. Experts expect rates to take a vast and speedy turn next week as the Federal Reserve is scheduled to address the bond purchase program. 30-year loans averaged 4.57% this week while the 15-year...
Reverse Mortgage Rules Reported To Change
According to new data, reverse mortgage rules are getting ready to change, making the process slightly more difficult for some. Rules governing Home Equity Conversion Mortgages (HECMs) are expected to get tighter starting in October. Loan fees will be larger than...
Home Equity Spikes
According to CoreLogic's second-quarter home equity report, an additional 2.5 million residential properties came out of the water during the second quarter. Data has stated that 41.5 million residential properties are now in a state of positive equity. Mark Fleming,...
Job Growth Continues To Increase
According to the Department of Labor, hiring in the United States has continued to grow while unemployment rates decrease. In August, the economy added 169,000 jobs, up from 104,000 created jobs in July, and the unemployment rate decreased to 7.3%. Although rates seem...
Home Prices Rise While Construction Permits Fall
According to new information released by Trulia, booming markets that have seen the largest increase in home prices have also experienced the largest lag in construction activity. Home prices jumped 11.0% on an annual basis, and on a monthly basis, in August, home...
Mortgage Applications Rise First Time In Weeks
Mortgage applications in the United States increased for the first time in approximately four weeks. Mortgage rates have decreased from the highest level seen in 2013 aiding the growth of mortgage applications. The seasonally adjusted index of mortgage application...
More Seniors Get Reverse Mortgages
Many older Americans have an unrealistic view of how financially stable they will be during their retirement years. An increasing number of seniors are putting the equity in their homes to use by applying for a reverse mortgage. Reverse mortgages allow senior...