In light of coronavirus concerns, the housing market is starting to signal a minor downturn with a decrease in housing starts.
That said, more people are remodeling and new construction is up compared to this time last year.
Mnuchin said the delay would apply to individuals and small businesses, and that he did not need the approval of Congress to do it. It would be part of a broader package of stimulus the Trump administration is planning, he said in testimony to the House of Representatives Appropriations Committee. He did not specify what the new deadline would be.
Even if you don’t watch The Bachelor (I stopped watching a few seasons ago), you have probably been victim to Tuesday morning recaps at work. Interestingly enough, buying a home and The Bachelor have a lot in common. Go with me on this. Capture the Opportunity Bachelor cocktail parties are vicious! The girls compete for one-on-one time with …
What do The Bachelor and Real Estate have in common? Read More »
Typically, spring homebuying season starts in earnest as the calendar ticks toward March, but homebuyers are seemingly getting an earlier start this year, perhaps driven into the market by low mortgage rates.
Now, a new report from the Mortgage Bankers Association shows that spring homebuying season officially began in January this year.
In 2019 we saw interest rates drop, housing inventory remain low and hot markets continue to heat up. Will those trends persist in 2020? Will home sales remain stagnant in the new year? Will an influx of new housing inventory come onto the market? Will younger consumers stop renting and start owning?
Here are five predictions that are likely to shape the 2020 housing market and help us answer these questions and more.
On Monday, the average rate on the 30-year fixed mortgage hit 3.34%, down from 3.42% last week, according to Mortgage News Daily. If the rate holds for more than one day, it will be the lowest it’s fallen in eight years.
There’s been a ton of advice written over the years about things a buyer should not do when embarking on a home purchase.
Running up more debt, buying furniture, traveling the world before closing, taking out a car loan and changing jobs are all big no-nos when it comes to buying. Although many buyers having been counseled appropriately by their agent and lender about what not to do, issues still occur.
What else does a buyer do that can potentially sabotage a home purchase? Here are a few of the lesser-discussed items on the list.
Buying a house is probably the largest single financial decision people ever make – and it’s a decision that’s made with high frequency each year.
Though these figures have somewhat leveled off in recent years, total home sales continue to hover around 6 million, spurred on by historically low lending rates and the longest economic expansion in U.S. history. It would seemingly look like a great time to buy a house, but that all depends on if you have your credit in order.
Much has been written ad nauseam about how to sell a house. Clean, declutter, reorganize, pressure wash, paint, freshen up landscaping, make repairs, update light fixtures and plumbing hardware, stage, repeat. The list goes on and on.
Last year proved to be an unexpectedly good year for housing in general and mortgage companies in particular. Ten years after the end of the financial crisis, low interest rates and strong home-price growth contributed to a banner year, with consumers sitting on record amounts of home equity to tap. But the ten-year mark also spawned a host of predictions for a coming recession, maybe even in 2020. Our economy operates on a cycle, and a full decade of growth seems bound to end with a downturn.
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