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Index Finds Homes Have Become More Affordable

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ATTOM Data Solutions’ Q3 2017 U.S. Home Affordability Index looks at how affordable homes are based on the percentage of average wages needed to make a monthly payment on a median-priced house in 406 counties across the country. According to the results, affordability conditions improved, compared to the previous quarter, in 60 percent of all analyzed counties. That’s an encouraging …

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Mortgage Rates Moved Slightly Higher Last Week

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According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates increased last week across most loan categories, including 30-year fixed-rate loans with conforming loan balances of $424,100 or less. Though the rate increases were small compared to the week before, they keep rates higher than they were last year at this time. Joel Kan, an MBA economist, told …

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Green Home Construction Increasingly Common

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Green-home features are becoming more popular among home buyers and it’s led to an increasing number of builders who say they’re incorporating green features into the homes they build. For example, the National Association of Home Builders’ Green Multifamily and Single Family Homes 2017 SmartMarket Brief surveyed builders to find out how many were using green-building techniques. According to their …

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What Americans Say Is The Ideal Down Payment

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The results of a new survey show Americans prefer a 10 percent down payment when buying a house. The 2017 Mortgages In America Survey found it was the most popular option among young, middle aged, and older home buyers when asked to choose among down payments up to 30 percent. And it lines up pretty well with actual data. In …

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Inventory Of New Homes Rises In August

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The number of new homes available for sale at the end of August was 3.6 percent higher than the previous month, according to new data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. The improvement brings inventory to its highest level since May 2009. That’s encouraging news for home buyers, as a lack of …

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Severe Weather Slows Pending Home Sales

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When a contract to buy a house is signed, the sale is considered pending until the mortgage process plays out and the deal is closed. Because there are usually a few weeks in between the time an offer is accepted and the sale is finalized, pending sales are a good indicator of where existing-home sales are headed in the coming …

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Mortgage Rates Jump But Buyers Stay Active

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According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates increased last week across all loan categories, including 30-year fixed-rate mortgages with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. The increase brought rates to their highest level in a month. Joel Kan, an MBA economist, said rates were reacting …

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Economic Optimism Drives Demand For Homes

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A new survey from the National Association of Realtors shows Americans are optimistic about their economic situation and increasingly think now is a good time to buy or sell a home. The quarterly survey found a spike in both the number of current renters who think now is a good time to buy a house and homeowners who say it’s …

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Mortgage Lenders Say Credit Is Easier To Get

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Whether or not you qualify for a loan depends, in some part, to how available mortgage credit is at the time. If lending standards are tight, you may have a harder time obtaining a mortgage than you would during another time when standards are looser. For example, following the housing crash, qualifying for a loan became more difficult for borrowers …

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What’s An Uneven Market Mean For Buyers?

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Since the housing crash and financial crisis, a slow and steady recovery has taken place. Home prices, for example, have been rising now for a few years and, in some markets, have surpassed their previous peaks. But though there has been progress, there is an unevenness about the recovery. For example, the higher end of the housing market has rebounded …