Money 15

Homes May Be More Affordable Than You Think

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Rising home prices have gotten a lot of attention over the past couple of years. In some places, they’ve even been said to have fully recovered from the housing crash. But a closer look at the numbers reveals a different story. Because many gauges of national home prices use averages to measure how much prices have gained or fallen, higher-priced …

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More Americans Say It’s A Good Time To Sell

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For most of the past several years, Americans considered the housing market more favorable to buyers than sellers. Even as home prices began to rise from their post-crash bottom, mortgage rates remained near all-time lows and offered buyers in most markets an affordable path to homeownership. However, according to the most recent results of Fannie Mae’s monthly Home Purchase Sentiment …

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Mortgage Rates Fall To New Low For 2017

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According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell to a new low for the year last week, with drops seen across all loan categories. Rates declined for 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. With rates at their lowest level since last …

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The Size Of American Homes Continues To Grow

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It shouldn’t come as any surprise that American homes are generally getting bigger and adding more rooms. After all, who wouldn’t choose to have an extra bedroom or some additional storage space? Still, a look at the numbers, shows just how much our living spaces have changed over the years. For example, numbers from the U.S. Census Bureau’s 2016 Characteristics …

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Survey Shows Homeownership’s Enduring Appeal

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Buying a house, for many Americans, is seen as an achievement and evidence that they’ve reached a certain level of success. Put simply, there is no other symbol as closely association with the American Dream than owning a home. For Americans of all backgrounds and income levels, it has remained a shared aspiration. Because of this, there is a strong …

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What Pending Sales Numbers Mean For Buyers

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The National Association of Realtors’ Pending Home Sales Index is a good indication of where home sales will be a month or two down the road. That’s because, it measures the number of signed contracts that occurred during the month, rather than the number of closings. And since there is typically about a month between having an offer accepted and …

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Average Rates Remain Near This Year’s Low

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According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates were largely unchanged last week. Loans backed by the Federal Housing Administration and 15-year fixed-rate mortgages both saw slight declines, while 30-year fixed-rate mortgages with both conforming and jumbo balances were unmoved. This follows the previous week’s results which showed mortgage rates at their lowest point so far …

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Renovations And The Cost Of Selling

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It isn’t just the home’s buyer who has to settle up at the end of the closing process, sellers have costs too. In fact, according to one recent estimate, the average seller spends $15,000 before they hand over the keys to their home’s new owner. A big part of that is closing costs, agent commission, and any repairs required following …

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Today’s Typical Home Sells In Less Than A Month

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Home buyers are out in large numbers this spring. Proof of that can be found in the most recent sales report from the National Association of Realtors. Their monthly tally of how many previously owned homes sold the month before found that the typical home for sale was on the market for just 29 days in April, down from 34 …