Over the last six years, we have experienced strong price appreciation which has increased home equity levels dramatically. As the number of “cash-out” refinances begins to approach numbers last seen during the crash, some are afraid that we may be repeating last decade’s mistake. However, a closer look at the numbers shows that homeowners are
The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate, the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search. Below is a chart created using Freddie Mac’s U.S.
Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data covers responses from 2013-2016. The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the
Winter Wonderland: Your Guide to a Happy Holiday in North Lake Tahoe Something special happens in North Lake Tahoe as temperatures begin to fall. Glittering icicle lights begin to illuminate the region, homes, and businesses feature seasonal decorations, and a jovial holiday spirit captures the hearts of locals and visitors alike. These elements, combined with
Below please find this week’s housing market snapshot for Incline Village, Nevada provided by our friends at First Centennial Title. From this week’s report… This week the median list price for Incline Village, NV is $1,595,000 with the market action index hovering around 26. This is less than last month’s market action index of 27.
Rising home prices over the last few years has helped homeowners gain more equity in their homes. In the third quarter of 2018, homeowners sold for an average of $61,232 more than their original purchase price—the highest average home seller price gain since 2007, according to a newly released report from ATTOM Data Solutions. That
While there have been signs recently that the market may be shifting toward the favor of home buyers, prices are still on the rise in many areas around the country. The median sales price in July was $230,411, up 5.8 percent year over year. But if your buyer clients are hoping to wait it out,
MORTGAGE RATE FORECASTS SUGGEST A NEARLY 10 PERCENT GAIN IN BUYERS’ MORTGAGE PAYMENTS BY NEXT JULY BY ANDREW LEPAGE HOUSING AFFORDABILITY, REAL ESTATE While the U.S. median sale price has risen by close to 6 percent over the past year the principal-and-interest mortgage payment on that median-priced home has increased around 13 percent. Moreover, while
November 2, 2018 mortgage rates for 30, 15, ARM. Full information at http://www.freddiemac.com/pmms/ ® REALTOR® Magazine Mortgage rates took a slight breather this week as borrowing costs moved lower and offset last week’s uptick. Still, the housing market is trying to adjust to rates that are much higher than a year ago. “While higher mortgage
U.S. inventory is poised for positive growth boosted by a 5-year high in new listings – Nationally, new listings jumped 8 percent year-over-year, the largest increase since 2013 – Median listing price growth continues to slow at 7 percent in September, compared to 10 percent last year – Total listings in the 45 largest markets