Although last weekâs economic calendar was cut short by the Thanksgiving holiday, several housing-related reports were released. The FHFA reported on third quarter results for its Housing Market Index and the Commerce Department reported on new home sales for October. Freddie Mac released its weekly report on mortgage rates and data on new weekly jobless claims was also released.
Home prices increased across the S&P Case Shiller 20-City Home Price Index in September. According to the 20-City Home Price Index, Year-over year home price gains increased to 5.50 percent from Augustâs reading of 5.10 percent. 17 cities posted higher year-over0year price gains in September as compared to August.
Are you in the process of buying a new home? There is no point in waiting until after a move to go through the junk lying around, as tempting as it may be, so here are five ways to decide what should find a new home before a move.
Sales of previously owned homes reached 5.36 million sales on a seasonally adjusted annual basis and fell by 3.40 percent in October according to the National Association of Realtors. Rising home prices and a shortage of available homes strained housing markets. Concerns over potentially higher mortgage rates may have sidelined home buyers as concerns over an anticipated rate hike by the Federal Reserve persisted.
Last weekâs economic events included reports the National Association of Home Builders Housing Market Index, Housing Starts and the release of minutes for the most recent meeting of the Fedâs Federal Open Market Committee. The details:
As this story shows, the amount of the down payment the size of the mortgage loan, the interest rate the length of the repayment term and payment schedule will all affect the size of your mortgage payment.
Refinancing a mortgage can provide a homeowner with many benefits, and many are interested in refinancing their traditional mortgage into an FHA mortgage to take advantage of low interest rates. Depending on the specific circumstances, this step may lower the monthly payment, reduce interest charges, adjust the loan term so that it is more beneficial for achieving financial goals and more.
Whether you're readying to put your home on the market or you haven't updated your space in a while and want to modernize, approaching renovations can be a struggle. With so many things to fix up, both large and small, it can seem overwhelming to prioritize, set the money aside and get to work. Here are some tips for how to properly prioritize so you can maximize your renovation expenditures.
If you're looking to refinance your home, you're likely going to benefit from lower mortgage payments. But lower mortgage payments aren't the whole story with a refinance. Before you refinance, you'll want to ask your lender these five key questions â it'll help you ensure you're getting a deal you can afford.