Many Americans got some depressing news last week; either their tax return was not as large as they had hoped or, in some cases, they were told they owed additional money to either the Federal or State government or both. One way to save on taxes is to own your own home. According to the […]
Measuring Your Ability to Achieve the American Dream
Forbes.com recently released the results of their new American Dream Index, in which they measure “the prosperity of the middle class, and…examine which states best support the American Dream.” The monthly index measures several different economic factors, including goods-producing employment, personal and commercial bankruptcies, building permits, startup activity, unemployment insurance claims, labor force participation, and […]
Major changes coming to credit score calculations
The changes, however, might not help mortgage borrowers since Fannie Mae and Freddie Mac still require a FICO score for eligibility. Source: Florida Realtors
US Housing Market Continues the Move into ‘Buy Territory’!
According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment. The BH&J Index is a quarterly report that attempts to answer the question: In today’s housing market, is it better to […]
Housing starts fell in March – but no big deal
Starts fell 6.8% last month, but they’re 8.1% higher for the first quarter. Analysts think a mild winter may have boosted Jan.-Feb. and dinged March results. Source: Florida Realtors
Thinking of Selling? Now Is the Time to Act
If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is […]
More owners opting for a cash-out refi mortgage
45% of homeowners who refinanced in 4Q 2016 borrowed more money than they owed. The last time cash-out refis surged was during the pre-recession boom. Source: Florida Realtors
Is Your First Home Within Your Grasp? [INFOGRAPHIC]
Some Highlights: ‘Millennials’ are defined as 18-36 year olds according to the US Census Bureau. According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 31 years old. More and more ‘Old Millennials’ (25-36 year olds) are realizing that homeownership is within their reach now! Source: […]
Average 30-year mortgage rate falls to 2017 low: 4.08%
Long-term mortgage rates have been hard to track and even harder to predict this year. The FRM hit a 2017 high recently only to drop this week to a new 2017 low. Source: Florida Realtors
Home Mortgages: Rates Up, Requirements Easing
The media has extensively covered the rise in mortgage interest rates since last fall (from 3.42% last September to the current 4.1% according to Freddie Mac). However, a less covered aspect of the mortgage market is that requirements to get a mortgage have eased while rates have risen. The Mortgage Bankers Association (MBA) quantifies the […]
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