Industry News

Helpful hints for first-time home buyers

Tom Oslund

There’s good news for Americans who think they can’t afford to buy a house: There’s a slew of government programs aimed at helping first-time homebuyers get a mortgage, often with very favorable terms.

For instance, there are conventional mortgages backed by Fannie Mae and Freddie Mac that require a down payment of just 3 percent for qualified buyers. Mortgages insured by the Federal...

Builder Confidence Stays at Healthy Level in July

Tom Oslund

Builder confidence in the market for newly built single-family homes remained unchanged at a solid 68 reading in July on the NAHB/Wells Fargo Housing Market Index (HMI).

“Consumer demand for single-family homes is holding strong this summer, buoyed by steady job growth, income gains and low unemployment in many parts of the country,” said NAHB Chairman Randy Noel.

“Builders are...

Home prices make their biggest jump in 4 years

Tom Oslund

It is a seller’s market, undeniably. The supply of homes for sale is low, demand is high, and now prices are heating up even more. But sellers today see more reasons to stay put than to profit.

Home prices jumped 7.1 percent annually in May, according to a new report from CoreLogic. That's the biggest jump in four years. Annual price gains had been shrinking slightly, as mortgage rates...