For much of the year, one of the common concerns among would-be homebuyers is that there are simply not enough homes on the market. It looks like there might be a bit of a light at the end of that tunnel, especially for first-time homebuyers.
If it seemed like more people were refinancing their mortgages in July, it’s because they were. A new report shows that refinance activity picked up significantly in July, with interest rate locks for rate and term refinances climbing by nearly 25% in one month.
Renters who want to become homeowners may soon find it easier to buy a home thanks to a significant lending policy change from Fannie Mae.
The constant increase in home prices over the last few years has continued to provide more financial benefits to owning a home.
Considering that May 2021 was the best month of May for real estate contract signings in 16 years, it may not come as a surprise that things cooled a bit in June. But the cooldown was ever so slight.
Thanks to the rise in remote work over the last 18 months, for many people, the days of being required to live in the same city as their job may be over. As a result, people are looking to live somewhere else, perhaps more than ever before.
Considering that mortgage applications for new home purchases were down in June, it probably shouldn’t come as a shock that when the new home sales data for June came out, it showed that sales were down too.
All the data indicated that existing home sales would rebound in June…and it looks like that’s just what happened.
If it seems like there's a new 'house prices just hit a record high' story every month, it's because there is. But it isn't just how high home prices are rising; it's also about just how fast they are rising.
While homebuying may have picked up in June, new data shows that the increase may have been felt only in the sales of existing homes.
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