Builders broke ground on more new homes last month, giving the weak housing market a slight boost at the start of the spring buying season. Home construction rose 7.2 percent in March from February to a seasonally adjusted 549,000 units, the Commerce Department said Tuesday. Building permits, an indicator of future construction, rose 11.2 percent [...]
The Mortgage Bankers Association saw the number of applications for refinance loans increase for the third consecutive week in its most recent survey. The survey, which assessed the week ending January 14, found its refinancing index increase to 7.7 percent during this time. Applications for these loans accounted for 73 percent of all mortgage activity [...]
People availing of mortgage applications for their homeowner loans had seen a decrease in the past six weeks being affected by refinancing. This is brought by the higher interest rates on buying a home and refinancing which affected decisions of consumers to have mortgage applications and homeowner loans. Homeowner loan applications according to Mortgage Bankers [...]
Despite being financially stressed and worried about retirement, homeowners, by and large, continue to see their homes as a roof over their head and not a key financial asset that may improve their retirement prospects. According to research by the Society of Actuaries, only about 20 percent of homeowners plan to use their home equity [...]
You’ve heard the saying that a picture is worth a thousand words. Well, in real estate news this week, a picture has been painted by what seems like a thousand numbers — and the picture ain’t pretty, people. Yesterday, the National Association of Realtors® (NAR) announced that sales of existing (meaning non-new) homes declined 9.6% [...]
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