Home buyers still want to buy a newly built home, that much is clear. However, it appears that some buyers are reluctant to buy that new home thanks to the cost of a new home continuing to rise due to lumber price increases.
Given that nationwide home prices hit a record in March, it probably won't come as a shock that home prices rose by a significant amount in the last year. However, a deeper dive into the data shows that the substantial rise in home prices is a truly nationwide phenomenon.
Thanks to the fact that there simply aren't enough homes on the market to satisfy the demand from buyers, the homes that do become available are basically flying off of the market. Read how Homes are Selling Almost Twice as Fast as Last Year.
After unexpectedly falling in the fourth quarter from a 12-year high, homeownership remained stable in the first quarter, indicating that the fourth quarter’s data collection issues may not have been a big deal after all.
Thanks to some underwhelming home sales data, it initially looked like the usually robust Spring homebuying season would be unusually subdued this year. But new data shows that the fears of a slowdown may have been overblown.
Last month when the companies announced that would soon be offering a new refinance program targeted at millions of low-income families. However, when the programs were announced, neither Fannie nor Freddie revealed when the programs would actually be available. We now have our answer.
The prospect of buying a home is exciting, but figuring out how to pay for it can be intimidating. If you're looking to buy a house, understanding your financing options will help you get the best deal.
The rollercoaster that is new home sales is back on the upswing in a rather dramatic manner. After falling in February by more than 18% from January’s figures, new home sales bounced back big-time in March.
Last year's mortgage market was dominated by refinances, with refis hitting the highest level in 17 years. This year is looking like it's going to be an entirely different story. A purchase story, that is.
Last year saw the highest volume of mortgage refinancing since 2003 thanks to historically low interest rates, but according to the federal government, millions of low-income families were not able to take advantage of those low rates. That could soon change. Read more about how Fannie Mae and Freddie Mac are Unveiling a New Refinance Program for Low-Income Families.
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