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
Home prices have risen quickly amid the pandemic. The median sales price of single-family existing homes increased in 99% of the 183 metro areas tracked in the second quarter compared to a year ago. Ninety-four percent of the markets posted double-digit price increases, according to a new report from the National Association of REALTORS®.Inventory shortages and a large influx of buyers, particularly as mortgage rates remained historically l
Prices for building materials have climbed 19.4% over the last 12 months, increasing 13% in 2021 alone, according to Bureau of Labor Statistics data.Buyers are seeing the results in the prices of new homes. The median sales price for a new home was $361,800 in June, up 6% compared to a year earlier.Steel mill product prices increased 10.8% in July following a 6.2% increase in June. Prices have increased 108.6% over the past year and 87.6% in 2021
Opportunity zones are keeping pace with national home price trends and proved to be a solid investment in the second quarter. Median single-family home prices rose annually in 75% of opportunity zones in the second quarter. In about half of them, home prices increased by at least 15%, according to a new report from ATTOM Data Solutions, a real estate research firm.Opportunity zones offer tax breaks for long-term investment in federally designated
Mortgage rates inched up slightly from their near all-time lows this week. The 30-year fixed-rate mortgage averaged 2.87%, Freddie Mac reported.“Following last Friday’s strong jobs report, which revealed broad-based gains in employment and wage growth, mortgage rates are moving higher,” said Sam Khater, Freddie Mac’s chief economist. “After dropping for six consecutive weeks, the 30-year fixed-rate mortgage increased by 10 basis points
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