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Mortgage Applications Stall Despite Rate Drop

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According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell last week for 30-year fixed-rate mortgages, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. Rates for jumbo loans increased from the previous week. Despite favorable rates, however, total demand for mortgage applications was down nearly five percent. Joel Kan, an MBA economist, told CNBC …

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Current Homeowners Say They’re Ready To Buy

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The National Association of Realtors’ Housing Opportunities and Market Experience survey asks consumers about buying and selling a home, their financial situation, and their perceptions of the economy. According to the fourth quarter results, Americans are generally optimistic about the housing market, with majorities expressing that they feel now is both a good time to be selling a home and …

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Builder Confidence Hits Highest Level Since 1999

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New home construction is an important part of maintaining a healthy housing market. Without a steady supply of new homes, the total number of homes for sale will stall and prices will climb. That’s why the National Association of Home Builders tracks builder confidence with their monthly Housing Market Index. The index surveys builders about current conditions and their expectations …

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How Single-Family Rentals Slowed 1st Time Buyers

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If you spend any time reading about real estate, you know that there has been a lot of discussion recently about inventory and first-time home buyers. Specifically, there are fewer homes available for sale and fewer first-time home buyers active in the market than is considered typical. Of course, there are many reasons that both of these things are true. …

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Orlando Market Pulse – November 2017

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From the Orlando Regional Realtor Association’s most recent Market Pulse Orlando home sales, median price both rise in November Sales of Orlando homes posted positive increases in November, an indicator that the housing market has recovered nicely from closing delays caused by Hurricane Irma, reports the Orlando Regional REALTOR® Association. Sales increased by 8 percent in November when compared to …

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Homeownership And The Gig Economy

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Smartphones and the internet have given rise to a number of on-demand services that offer Americans the ability to supplement their income by providing work as independent contractors. Whether delivering groceries or ride sharing, many Americans are now working in what is known as the “gig economy.” In fact, as part of their third quarter National Housing Survey, Fannie Mae …

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Survey Finds Mortgage Rates Up Last Week

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According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates were up slightly last week, with increases seen for 30-year fixed-rate loans with conforming loan balances, mortgages backed by the Federal Housing Administration, and 15-year fixed-rate loans. Rates for jumbo loans, on the other hand, were down from the previous week. Joel Kan, an MBA economist, told CNBC …

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Owners Become More Realistic About Home Values

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When something is yours, it can be easy to overestimate its value. Your personal attachment and nostalgia for something can make it seem as though its worth far more than it actually is. This is true whether you’re having a garage sale or you’re selling a house. Therefore, it’s important to try and remain detached and realistic when setting prices …

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Will More Homeowners Sell Houses Next Year?

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In any market, supply and demand determines whether it’s a good time to buy or a good time to sell. This, of course, is also true for real estate. Following the housing crash, there were far fewer buyers than available homes and prices fell dramatically. This presented an opportunity for buyers. In the ensuing years, lower-than-normal prices brought prospective home …

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Americans Optimistic About Buying A Home

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An increasing number of Americans say they feel now is a good time to buy a house, according to the most recent Home Purchase Sentiment Index from Fannie Mae. The index – a monthly measure of how consumers feel about real estate, home prices, mortgage rates, job security, and their financial situation – is now nearing its all-time high, reached …