As the housing market booms, lenders have faced a significant uptick in mortgage demand. Low-interest rates are fueling a frenzy. Mortgage applications for home purchases jumped 22% in the second quarter compared to the first quarter and are up 52% compared to a year ago, according to ATTOM Data Solutions’ Q2 2021 U.S. Residential Property Mortgage Origination Report.The largest quarterly increases in residential purchase mortgage originations
Home buyers should expect to bid way over the asking price in Austin, Texas. The city has homes fetching the highest amounts over asking price in the country—$100,000 or more.Nearly 2,700 homes in Austin have sold this year for $100,000 or more above the initial listing price, according to an analysis from Redfin, which examined sales records through Aug. 11. Researchers note that some U.S. cities have seen more properties sell at a premium, bu
The 30-year fixed-rate mortgage held near last week’s average and continues to average near historical lows and under 3%.“Mortgage rates stayed relatively flat this week,” says Sam Khater, Freddie Mac’s chief economist. “Housing is in a similar phase of the economic cycle as many other consumer goods. While there is strong latent demand, low supply has caused prices to rise as shortages restrict the amount of sales activity that otherwi
United Wholesale Mortgage, the second largest mortgage lender in the U.S., announced it will accept cryptocurrency for home loans by the end of this year. UWM wants to be the first lender to do so in the national mortgage industry.“We’ve evaluated the feasibility, and we’re looking forward to being the first mortgage company in America to accept cryptocurrency to satisfy mortgage payments,” CEO Mat Ishbia said during UWM’s second quarte
The Federal Housing Finance Agency proposed a set of new housing goals that target assisting low- and moderate-income families, minority communities, rural areas, and other underserved populations achieve homeownership. FHFA outlined the goals for the mortgage financing giants it regulates—Fannie Mae and Freddie Mac—for 2022 to 2024.Its new minority census tract is aimed at improving access to fair and sustainable mortgage financing in commun
About Zulay Zulay Rennells is a hard-working and driven realtor who has been serving all of Southern California for years. Zulay is quickly developing a reputation in her market as an up and coming agent who delivers an outstanding experience to every client with her personalized, highly responsive style. Being fluent in Spanish helps Zulay meet the needs of her clients.Buyers and sellers of residential properties, Military/VA Housing, and Real E
With more time spent on activities in the home, flexible design is becoming increasingly important to homeowners. Also, they want to bring more outdoor elements inside. These are among the latest home trends, according to Houzz, a home design and remodeling resource. Houzz researchers identified the top emerging home design trends based on search insights from homeowners and home professionals at its site.Here’s an overview of the five emerging
Florida has long been a favored spot among retirees, while Texas is becoming a mecca for younger home buyers, a new study shows. LendingTree researchers looked at the average ages of homeowners and renters across the nation’s 50 largest metro areas to find more trends based on relocation and age.Miami and Tampa, Fla., are the metros with the oldest homeowners. Pittsburgh and New York tend to have the oldest renters, the study found. In general,
Sparked by the pandemic, the surge in activity in the single-family rental market doesn’t appear to be letting up. Rents for single-family homes jumped 7.5% in June year over year, the highest recorded for at least the past 16 years, according to CoreLogic, a real estate data firm.The desire for more space has led to an increase in demand for single-family rentals. Rising home prices are pricing out some potential buyers and prompting them to r
The price of homeowners’ insurance is on the rise, and many owners may be looking for ways to reduce their high premiums. While discounts can vary greatly based on location, size, and age of the house, some credits may be available that could reduce some homeowners’ premiums by as much as thousands of dollars per year, The Wall Street Journal reports.The average premium for a homeowners insurance policy increased 3.1% to $1,249 in 2
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