5% Interest Rates

U.S. housing market faces '5-percent' test NEW YORK (Reuters) - The U.S. housing market, already struggling with tight inventory and rising building costs, faces a fresh headwind as 30-year mortgage rates rise close to the 5 percent threshold for the first time in years. Even as home prices have climbed steadily thanks largely to a … Continue reading 5% Interest Rates

Here’s Why It Feels Like Rent Is Eating Up Your Entire Paycheck

Here’s Why It Feels Like Rent Is Eating Up Your Entire Paycheck Rents have gone up faster than incomes for decades. Way, way faster. 06/29/2016 05:20 pm ET 270 Kate Abbey-Lambertz National Reporter, The Huffington Post This is the clearest explanation for why more and more people are struggling to afford a place to live: … Continue reading Here’s Why It Feels Like Rent Is Eating Up Your Entire Paycheck

Southern California home prices surge in March; sales inch up

Southern California home prices surge in March; sales inch up    Southern California home prices jumped 5.6% in March from a year earlier, as buyers fought over a meager supply of homes for sale and bid up values. The six-county region’s median price hit $449,000 last month, up from $425,000 a year earlier, real estate … Continue reading Southern California home prices surge in March; sales inch up

Money Minute: Should I tap my 401(k) to buy my first home?

Money Minute: Should I tap my 401(k) to buy my first home?   By Mandi Woodruff March 21, 2016 Yes, you can tap your IRA or 401(k) to cover a home purchase, but it's important to know the pros and cons first. Making an IRA withdrawal Typically, withdrawing funds from your IRA before age 59 … Continue reading Money Minute: Should I tap my 401(k) to buy my first home?

Why 2016 May Be A Great Year for Homebuyers

From Credit.com 12/23/15 The Federal Housing Administration continues its mission to help consumers realize the dream of homeownership. In today's mortgage lending environment, there are three buckets of loan options available for borrowers, including conventional, FHA and jumbo loans. Of the three, FHA mortgages are significantly more flexible, especially in the following areas: Higher debt ratio allowance 3.5% equity … Continue reading Why 2016 May Be A Great Year for Homebuyers

30 Year Mortgage Rate Falls

Average rate on 30-year  mortgages falls to 3.86% Home for sale Mark Humphrey / AP A home in a new development in Nashville, Tenn., is marked sold. Average long-term U.S. mortgage rates declined this week following the Federal Reserve's decision to keep interest rates at record lows for now. Mortgage giant Freddie Mac says the … Continue reading 30 Year Mortgage Rate Falls

Ready to buy a home? Some things to think about

Ready to buy a home? Some things to think about From Bank Rate 8/6/15   Weighing the rent-versus-buy decision? Both have upsides. So before deciding, think about these factors. Don't worry. We won't try to talk you out of anything. Want flexibility? Then rent You are more mobile when you rent because you can move … Continue reading Ready to buy a home? Some things to think about

Average rate on 30-year mortgage falls to 3.91%

From Associated Press 8/6/15 Average long-term U.S. mortgage rates fell for a third straight week amid anxiety over developments in the U.S. economy that lifted bond prices. Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage dipped to 3.91 percent this week from 3.98 percent a week earlier. The rate … Continue reading Average rate on 30-year mortgage falls to 3.91%

Survey: Consumers Generally Positive But Still Cautious Toward Housing

Consumers were generally positive toward the housing market in April, but the improvement in housing sentiment was not enough for analysts to expect any breakout improvements for housing in the coming year, according to Fannie Mae's April 2015 National Housing Survey released Thursday. Following declines in February and March, the percentage of respondents who said … Continue reading Survey: Consumers Generally Positive But Still Cautious Toward Housing