Industry News

Millennials, Unlike Their Parents, Are Looking at Home Buying Differently

Millennials, Unlike Their Parents, Are Looking at Home Buying Differently

Tom Oslund

Millennial homebuyers are becoming a "dominant force" in the high-end housing market, according to a report by Bloomberg.  Millennials buying their first home will pay 39 percent more than baby boomers did in the 1980s, according to a study by Student Loan Hero. That’s causing many millennials to wait longer to buy homes, so they can save up for a down payment and pay off debt.

However...

Should You Lend Your Kids Money for a Home Down Payment?

Should You Lend Your Kids Money for a Home Down Payment?

Tom Oslund

Mortgage rates have repeatedly hit record lows in recent months, which theoretically makes it a great time to purchase a new home. Unfortunately, property values have also gone up due to high demand and limited supply.

With homes so much more expensive, many first-time buyers will struggle to come up with the funds to make a down payment -- even if they could easily qualify for a...

US long-term mortgage rates edge lower

US long-term mortgage rates edge lower; 30-year at 2.71%

Tom Oslund

WASHINGTON (AP) — U.S. long-term mortgage rates edged lower this week, reaching record lows for the 14th time this year against the backdrop of the pandemic-ravaged economy.

Mortgage finance giant Freddie Mac said Thursday the average rate on the 30-year fixed-rate home loan slipped to 2.71% from 2.72% last week. By contrast, the benchmark rate stood at 3.68% a year ago.

The...

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