The Federal Reserve lowered its benchmark interest rate by another quarter of a percentage point on Wednesday to a range of 1.75% to 2%, citing concerns over a global economic slowdown. Mortgage rates aren’t directly tied to the Fed’s interest rate, but they do tend to be influenced by them.Following its meeting, the Fed signaled that another rate cut is likely before the end of the year. It cited “uncertainties” about the economic o
Fewer homes were flipped by investors in the second quarter compared with the same quarter one year ago as profits grew smaller, according to ATTOM Data Solutions’ 2019 U.S. Home Flipping Report. Homes flipped in the second quarter were down 5.2% from a year ago. Overall, home flips in the second quarter comprised 5.9% of all home sales during the quarter.Investors are seeing fewer profits from their flips. Homes flipped in the second
Housing starts posted “healthy gains” in recent weeks as homebuilders feel more confident about the new-home market, the National Association of Home Builders reports.Led by an increase in multifamily production, total housing starts surged 12.3% in August, reaching a seasonally adjusted annual rate of 1.36 million units, the Commerce Department reported Wednesday. This marks the highest level since May 2007.Single-family starts rose 4.4
Buyers are doing everything from tapping into their retirement savings accounts to taking financial gifts from family and friends in order to bring more money to the closing table. Bankrate.com recently surveyed more than 2,500 adults about their home purchase to find the top ways they’re saving.About 47% of first-time home buyers said they saved on their own to purchase a house. But others also sought help elsewhere, such as through a fir
Fort Wayne, Ind., and Pueblo, Colo., were the top-performing housing markets in August—another sign that small towns are turning on the charm in drawing more buyers away from the big cities. The two cities topped realtor.com®’s newly released list of hottest housing markets.“Smaller markets with smaller price tags continue to heat up feverishly,” says Javier Vivas, realtor.com®’s director of economic research. “Buyers have more succ
About Sheri There are many qualities and skills that go into being an excellent real estate professional - integrity, in-depth community and market knowledge, marketing savvy, effective negotiation skills and a high-quality professional network, all of which are hallmarks of how I work.That said, in my experience as a Collin County real estate professional, I've also found that providing the very best service is essentially about putting my cl
A lot of talk has centered on the force of single women in real estate, but how about single men? LendingTree recently analyzed the largest metro areas to narrow down the cities that offer the most perks for bachelors. They factored in demographics, the economy, culture and entertainment, safety, and more.Madison, Wis., topped the list as the best city for single men, mostly due to its performance on measures like health and safety. Madison
The homeownership rate of black Americans hit an all-time low in the first quarter of this year as black communities continue struggling to recover financially from the housing crisis a decade ago, recent U.S. Census Bureau data shows. The black homeownership rate has dropped 8.6 percentage points since peaking in 2004.“We can see that discrimination is still there, although it has changed its form,” Michela Zonta, a senior policy analyst at
Purchasing real estate has become an increasingly costly endeavor over the last half-century. Median home prices have surged 121% nationwide since 1960, but median household income has only increased 29%, according to a new study by Clever Real Estate. Renters have faced escalating prices, too. Median gross rent has risen 72% since 1960, more than double the growth in adjusted incomes.“Rising rents and increasing home prices make it harder than
Mortgage products that haven’t been widely used since before the Great Recession are making a comeback. The volume of loans with alternate documentation has more than doubled in the last two years among loans included in mortgage-backed securities, according to a report from Fitch Ratings.The alt-doc loans have performed well since the housing crisis, but Fitch analysts say they’re still concerned about the uptick. “Although alternative doc
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