Mortgage News - Page 20

Are buyers willing to use AI instead of a real estate agent? How do sellers really feel about those commission fees? Which generation is most likely to forgo an agent altogether? A new survey has some interesting insights in how real estate agents are seen, used and (in some cases) replaced in today’s tech-savvy market.

More and more Americans are becoming homeowners — and younger generations are leading the charge. According to new data, owner households grew by more than 1 million last quarter, marking the eighth quarter in a row to see such growth.

Americans apparently aren’t making the smartest financial decisions when buying their homes. According to a new report, homebuyers are missing out on millions in mortgage savings by not shopping around.

Thanks to decreasing mortgage rates, consumer homebuying power is up. In fact, according to new data, it actually made its biggest monthly jump in more than five years.

Southern states boast the lowest in average real estate taxes, according to a new analysis. In fact, New Jersey homeowners willing to move to low-cost states like Alabama could save as much as $8,000 a year in property taxes.

The days of Millennials sitting on the homebuying sidelines have now come to an end. According to new data, the generation is now taking out the largest dollar share of new mortgages in the nation.

The No. 7 U.S. lender isn’t a big bank of fintech firm. Nope. According to a new analysis, it’s good old mom and dad.

Housing inventory is finally on the rise. According to new data, January saw for-sale inventory jump 1.2 percent over December, marking the first time in half a decade that has happened. The last time a calendar year kicked off with an increase in inventory was 2014.

Tiny homes are often billed as the new big trend in real estate, but according to data, that just isn’t the case. In fact, tiny homes only made up a mere 2.1 percent of all New York City sales in the last eight years — and that’s the highest share of all major cities in the country.

Looking to snag a low mortgage rate? Then considering putting down roots in California. According to new data, the state claims the lowest mortgage rates in the nation.

For the past few years, iBuyers like Opendoor, Offerpad and other similar platforms have been simplifying the sales process for homeowners across the country, offering easy, instant cash offers, without all the hassle and headache of the open market. Now, with the launch of a new online marketplace, sellers can do more than just utilize iBuyers to sell their homes; they can actually compare the offers of more than 100 iBuyers in one single place, too.

Aspiring homeowners are willing to do a lot in order to buy a house. According to new data, many would work an extra job or even add a roommate in order to realize their dreams of homeownership sooner.

Rents continued their upward climb last year, with even small, studio properties clocking in at an average $1,065 rent by December’s end. And according to new data, Newark, New Jersey renters got hit the worst.

If members of Generation Z want to own a home, they need to start saving today. According to new data, Gen Zers need to save more than $300 a month to buy a house by age 30.

Last year was a good time to sell your home, apparently. According to new data, U.S. home sellers made record profits in 2018, clocking in with an average of $61,000 per sale.

Thanks to increasing inventory, slowing home value growth and last year’s jumps in mortgage rates, price cuts are becoming the norm when it comes to new construction. In fact, according to new data, 25 percent of new homes last quarter saw a price reduction.

Mortgage rates dropped 23 basis points in December and have hovered around 4.5 percent ever since — a number not seen since early last year. According to one expert, they might not be finished dropping either.

It no secret that the 800,000 furloughed federal workers affected by the nearly 40-day government shutdown are struggling. Fortunately, three industry players have stepped up to help.

Home price appreciation might be waning, but that doesn’t mean buying a house is easy — at least not everywhere. According to a new analysis, homebuying is still a competitive sport — particularly on the West Coast.

The best mortgage lender depends largely on what type of transaction you’re dealing with, as well as the size and type of your loan. But according to new rankings, you can’t go wrong with Quicken or New American. Both were named one of the best mortgage lenders for purchase loans this week by Nerdwallet.