The 30-year fixed-rate mortgage surged to its highest average of the year this week, reaching 4.21 percent, Freddie Mac reports in its weekly mortgage market survey.“The 10-year Treasury yield rose about 10 basis points this week,” said Sean Becketti, Freddie Mac’s chief economist. “For the first time in weeks, the 30-year mortgage rate moved with treasury yields and jumped 11 basis points to 4.21 percent. The strength of Friday’s emplo
The Trump administration reportedly is considering cuts at the Department of Housing and Urban Development of more than $6 billion, which could particularly hit public housing support programs hard, according to The Washington Post.The potential cut is expected to reduce public housing support and end most federally funded community development grants, such as those that help to repair abandoned properties in low-income neighborhoods.HUD’s prel
The happiest people in America live in Naples, Fla. It’s the second consecutive year for Naples to nab the top spot in the Gallup-Healthways Well-Being Index—so that should make the residents there even happier. Naples touts great wealth, health, and weather, which all helped it keep the number one spot on Gallup’s list for 2017.Gallup factored in a variety of traits in determining the happiest cities, such as social cohesiveness, financial
Two big selling points for your listings’ outdoor spaces are sustainability and tech friendliness. The American Society of Landscape Architects says those features were the two most popular design elements with outdoor living spaces in ASLA’s 2017 Residential Landscape Architecture Trends Survey. ASLA surveyed 817 landscape architects to determine the popularity of certain outdoor features.About 82 percent of landscape architects said that na
The McMansion—once the popular symbol of prosperity prior to the 2008 recession—may be losing its favor with home buyers.Suburbs across America once boasted McMansions, “sprawling, mishmashed homes boasting several thousand square feet,” Business Insider says."The pretty and prototypical image of such suburban lifestyle is the seven-bedroom and four-bathroom McMansion with a driveway where three gas-guzzling SUVs are parked (one for dad,
Real estate investor Sidney Torres is dishing on his big secret to making millions in real estate: Buy, don’t sell.Torres says the priority is to have a smart buying strategy where you truly can net the most profits, not in the renovations.“A lot of people think, ‘Oh, I’m going to go in there and I’m going to renovate [the property] for a lot less, and that’s where I’m going to make my money,” says Torres, the host of CNBC’s “
Americans have, so far, stood resilient to rising mortgage rates, but a bigger impact will come soon, say Goldman Sachs economists.Housing’s share of the economy rose above normal levels from November to January, despite mortgage rates surging 60 basis points at the time.Still, economists caution that there may be a lag to the impact of rising rates and particularly their effect on home prices. In an analysis—pulling data from past 100-basis
What makes a top-ranked small city so desirable? According to realtor.com®’s research team, it has a low unemployment rate, a crime rate below the national average, an affordable median home price, and a majority of households that spend no more than 28 percent of their annual income on housing costs.The research team ranked more than 500 towns with populations between 10,000 and 50,000. The median home price of its top 10 small towns ranged f
Borrowers are getting spooked by rising rates and, as a result, they’re rushing to lock in rates before any further increases. That’s pushing mortgage application volume higher, increasing a seasonally adjusted 3.3 percent week over week, the Mortgage Bankers Association reported Wednesday. Buyers are also increasingly turning to adjustable-rate mortgages to try to get more savings in their monthly payments too."Mortgage rates increased last
Millennials and baby boomers often steal the spotlight in real estate. But Generation X says it’s time for the housing market to pay more attention to them instead. Gen Xers are the only generation to purchase more homes last year than they did the previous one, according to the National Association of REALTORS® Home Buyer and Seller Generational Trends survey.Gen Xers, aged 37 to 51, made up 26 percent of home buyers in 2015, but grew that pe
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