Mortgage News + Updates

When you're getting ready to buy, move, or invest, it's important to know the latest interest rates, mortgage trends, programs and more.

Found 37 blog entries about Mortgage News + Updates.

American homeownership has been on the decline, and Federal Reserve researchers point to the high cost of college as one culprit.

According to Bloomberg, just 36 percent of household heads between 24 and 32 years old owned homes in 2014, down from 45 percent in 2005. At the same time, average student debt per capita rose to an inflation-adjusted $10,000 from $5,000 in 2005.

About 20 percent of the decline in homeownership among young adults can be attributed to that increase in student loan debt, the authors estimate, making such borrowing an important, but not central, driver of the decline. Some 400,000 more young people would have owned homes in 2014 if debt burdens hadn’t risen.

Why does this happen? It’s partly because higher student

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In much of the United States, single women are outpacing single men when it comes to homeownership.

This trend may be somewhat surprising, given the average woman in the U.S. only makes 80% of what the average man does. Nonetheless, the data clearly indicates that single women are more likely to own a home than single men are.

For example, in the New York metropolitan area, single women own slightly more than 820,000 homes. In the Los Angeles metropolitan area, that number is around 460,000. On the flip side, single men own about 435,000 homes in the New York area and about 260,000 homes in the Los Angeles area. In both cases, single women owned nearly twice as many homes as single men did.

To determine the number of single homeowners in each

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It’s been a bumpy ride with flighty swings for the S&P 500 stock index this past week, which dropped by 4.6 percent.

According to Ruben Gonzalez, chief economist at Keller Williams, very few buying and selling decisions are likely to be directly impacted in the near-term by the stock market’s decline, stating “it’s more likely that buyers and sellers become more jittery about the future of the economy in general, and this could affect housing decisions.”

The stock market blip could be nothing more than a simple correction, says Lawrence Yun, chief economist for the National Association of REALTORS®, who states a housing bubble prediction is misplaced; in fact, this correction could prove beneficial to homebuyers, spurring a slowdown in interest

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The FHFA announced Tuesday that it is increasing the conforming loan limit for Fannie and Freddie mortgages in nearly every part of the U.S.

After not increasing the maximum conforming loan limits on mortgages to be acquired by Fannie Mae and Freddie Mac for 10 years, the Federal Housing Finance Agency has now increased the conforming loan limit for the third straight year.

According to the FHFA, the conforming loan limits will rise from this year’s total of $453,100 to $484,350 for 2019. That’s an increase of 6.9% from this year’s loan limit to next year’s.

As stated above, this marks the third straight year that the FHFA has increased the conforming loan limits after not increasing them from 2006 to 2016.

Back in 2016, the FHFA

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Homebuyers might not want to wait to invest in Colorado property.

While there have been signs recently that the market may be shifting toward the favor of home buyers, prices are still on the rise in many areas around the country. The median sales price in July was $230,411, up 5.8 percent year over year.

But if you are a future homebuyer hoping to wait it out, you might want to note that mortgage rates are also increasing. The typical mortgage payment jumped 13.1 percent over that same one-year period, due to a nearly 0.6 percentage point increase in mortgage rates, according to new data from CoreLogic, a real estate research firm.

Mortgage rates are expected to keep rising, too. CoreLogic researchers predict a nearly 10 percent increase in

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BREAKING NEWS via RIS Media: The average 30-year, fixed mortgage is nearing 5 percent, leaping 19 basis points to 4.90 percent this week, according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS®)—the highest it’s been in seven years.

The average 15-year, fixed mortgage, at the same time, jumped to 4.29 percent from 4.15 percent the prior week, and the five-year, Treasury-indexed hybrid adjustable mortgage rose to 4.07 percent, from 4.01 percent the prior week.

“Rising rates paired with high and escalating home prices is putting downward pressure on purchase demand,” says Sam Khater, chief economist at Freddie Mac. “While the monthly payment remains affordable due to the still-low mortgage rate environment, the primary hurdle for many

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Globe + Mail: When Shannon Beattie moved into her stately cul-de-sac neighbourhood in Niagara Falls with two other women, her suburban neighbours were wondering what was up. It’s not generally the kind of area where you have roommates.

But they aren’t quite roommates: Ms. Beattie is co-owning the home with a long-time friend and renting out their basement. Thanks to the living situation, she ends up paying $500 a month and gets much more space than her one-bedroom apartment in Toronto, which cost five times as much.

Co-owning is an idea that is starting to catch on as housing prices get further out of reach for new home buyers. Real estate agents and mortgage lenders say they’re seeing more people interested in the idea of splitting a mortgage

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Fiscal distress often results from a lack of long-term planning.

Failing to save enough for retirement—a decades-long endeavor—is the biggest financial regret among American adults, according to a Bankrate survey, followed closely by not having an adequately-funded emergency savings account.

Much like your physical well-being, financial health requires both good habits and a bit of luck. By setting up financial goals and working hard to accomplish them, you can focus your energy on the more meaningful parts of your life.

1. Maintain a top-notch FICO score.

You’re going to need to borrow a large sum of money at some point in your life. Want to buy a house? A car? Chances are you’re going to need to go to the bank first. The more

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