The best days of the year to buy a home all fall in the month of December, according to a new analysis released by ATTOM Data Solutions, a real estate data firm.Buyers who close on a home purchase the day after Christmas—Dec. 26—will likely realize the biggest discounts below full market value compared with any other day of the year, according to the study of more than 23 million single-family home and condo sales over the past six years.“C
The Department of Housing and Urban Development is increasing the amount of money that borrowers can roll into a Federal Housing Administration loan when paying for rehabbing homes located in opportunity zones.The FHA is allowing the extra funds through its Limited 203(k) Rehabilitation Mortgage Insurance Program for homes located in opportunity zones starting on Dec. 16.Buyers who purchase a home in a qualified opportunity zone can use the Limit
Mortgage prepayments, a common gauge for housing and refinancing demand, jumped to its highest level since May 2013—a good sign for the market, according to a new analysis from data and analystics firm Black Knight. Mortgage prepayments were at 1.81% in October, more than double the figure a year ago. That represents a 134% year-over-year increase, Black Knight reports.What’s causing the improvement? Low mortgage rates are prompting more peop
Mortgage rates declined this week, with the 30-year fixed-rate mortgage averaging 3.66%, Freddie Mac reports. After several weeks of increases, the drop in mortgage rates is a welcome sign for home buyers.“The housing market continues to steadily gain momentum with rising homebuyer demand and increased construction due to the strong job market, ebullient market sentiment, and low mortgage rates,” says Sam Khater, Freddie Mac’s chief ec
President Donald Trump signed a bill Thursday evening to extend the National Flood Insurance Program until Dec. 20, another short-term gap measure that came just hours before the program was set to expire. Congress had approved the extension bill earlier Thursday before it went to the president for his signature.This marks the 13th short-term extension of the NFIP since 2017. The National Association of REALTORS® has long called for a long-term
Low mortgage rates and a strengthening economy propelled home sales in October, the National Association of REALTORS® reported Thursday. Total existing-home sales, which include completed transactions of single-family homes, townhomes, condos, and co-ops, rose 1.9% month over month to a seasonally adjusted annual rate of 5.46 million, NAR’s latest existing-home sales report shows. Sales are up 4.6% from a year ago.“Historically low interest
It’s good to be a landlord: National rents on single-family homes rose 3% in September, as low rental housing inventories compared to demand continues to push up prices, according to CoreLogic’s Single-Family Rent Index.“Low rental supply coupled with ongoing demand pushed up rents in September,” says Molly Boesel, principal economist at CoreLogic. “Vacancy rates have fallen moderately on the national level over the last quarter—with
A growing number of retirees are bucking the downsizing trend and are opting to upsize instead. They may be motivated to find a larger home to accommodate a live-in parent or visiting family members or because a larger home is simply what they prefer.“People who choose to upsize in retirement often do so when relocating to a more climate-friendly area, such as Florida or Arizona,” Cara Ameer, a real estate professional with Coldwell Bank
Some millennials are feeling trapped in renting because they’re unable to save enough to make the leap into homeownership, according to Apartment List’s “2019 Millennials & Homeownership Report.” The report analyzes the attitudes, expectations, and actions of more than 10,000 millennial renters nationwide.The vast majority of millennials say they want to own a home and view it as a financially superior choice over renting, but ne
Foreclosure filings are on the rise, increasing 13% month over month in October and reaching their highest level of 2019, according to ATTOM Data Solutions’ latest U.S. Foreclosure Activity Report.Foreclosure starts rose monthly in 36 states, marking the first double-digit month-over-month increase since February 2018, ATTOM Data Solutions reports. The metro of Minneapolis-St. Paul-Bloomington, Minn.-Wis., saw the highest increase of foreclosur
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