Mortgages

Borrowers rush to refinance, as mortgage rates drop for a second week

Borrowers rush to refinance, as mortgage rates drop for a second week

Mortgage rates fell for the second straight week last week, and that helped boost refinance demand for the first time in a while. As a result, total mortgage application volume rose 5.5% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

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

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

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, wealthy millennials are bucking the trending of first purchasing a “starter home.” Instead, they're going big.

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

US long-term mortgage rates edge lower

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 average rate on 15-year fixed-rate loans declined to 2.26% from 2.28%.

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6 Traits Customers Look for in a Home Builder

6 Traits Customers Look for in a Home Builder

When it comes to hiring a building contractor, customers want to feel confident they have picked the right one … after all, they are about to entrust the builder with their home. They want to choose someone who is dependable, affordable and effective at making their dream home renovation or build out a reality. So, what traits are customers looking for? Here are six that customers look for when hiring a home builder or remodeling contractor. These can serve as a great reminder of how to be the best builder you can be for your customers!

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8 'must-do' steps to sell your home this year

Selling your home, Mortgages

Most sellers dream of a stress-free sale where they simply list their house, quickly find a qualified buyer, collect the cash and hand over the keys. The reality is that selling a home includes many moving parts -- some which you can control and some that are out of your hands.

For example, geography might influence how long your house lingers on the market and how much mark-up you can get away with.

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Housing Starts Reach Post-Recession High in May as Permits Soften

Total housing starts rose 5% in May to a seasonally adjusted annual rate of 1.35 million units, according to newly released data from HUD and the Commerce Department. This is the highest housing starts report since July 2007.

While housing production numbers rose, overall permits dropped 4.6% to 1.3 million units: Single-family permits fell 2.2% to 844,000 while multifamily permits fell 8.7% to 457,000.

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