Inventory, Sales Expected To Improve This Year

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If you’re thinking about buying a house, you’re probably focused on finding something that fits your lifestyle but doesn’t blow a hole in your budget. In short, you want to find the best house for your money. In a market where there are too few homes for sale, though, this can be difficult. That’s because a lack of homes for …

Home Buyer Interest Higher Than Last Year

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Despite lingering affordability concerns, Americans remain interested in buying a home. In fact, according to the Mortgage Bankers Association’s Weekly Applications Survey, demand for loans to buy homes is now 7 percent higher than at the same time last year. That means, potential home shoppers still see buying opportunities even while for-sale inventory remains low and home prices continue to …

Builders Optimistic Despite Market Challenges

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The new home market isn’t only important to new home buyers. After all, the number of homes being built plays a part in meeting buyer demand, moderating competition, and keeping prices in check. In other words, if the market for newly-built homes isn’t doing well, there’s a good chance the overall housing market isn’t either. That’s why the National Association …

Orlando Housing Market Activity: June 2019

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Orlando’s sales stumble a bit during peak homebuying months Orlando home sales took a tiny tumble in June, slipping 2% compared to June 2018 during what is traditionally near the peak of our homebuying season. “We are expecting June’s sales decline to reverse itself in the coming months as families seek to close on their new homes before the start …

How Long Does It Take To Close A Loan?

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If you’ve never been through the buying process before, you might think you get the keys to your new house right after having your offer accepted. After all, you’ve been approved to borrow the money and the home seller has agreed to sell you their house. So, what could be the holdup? Well, there are a number of things. First …

Lending Standards Get Looser In June

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There are many steps along the way to buying a house. But qualifying for a mortgage is where it all begins. Until you’ve been approved to borrow, you can’t really start looking for a house and you certainly can’t make an offer on one. That’s why the most recent Mortgage Credit Availability Index from the Mortgage Bankers Association is good …

Mortgage Payments Affordable For High School Grads

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The cost of buying a house gets a lot of attention these days. After all, home prices have been rising for years now and there’s plenty of reporting on the lack of available for-sale inventory. So it’d be easy to get the impression that homeownership is now out of reach for most Americans. But, according to one recent study that …

Low Rates Push Purchase Demand Higher

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According to the Mortgage Bankers Association’s Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell slightly last week. Rates for jumbo loans increased, while rates for 15-year and FHA loans were steady from the week before. Overall, mortgage rates remain well below where they were at the same time last year. Joel …

How Does Construction Affect Affordability?

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Naturally, for home buyers, affordability is a top concern. That’s not a surprise. Anyone thinking about buying a home in the near future is likely going to first try to figure out how much house they can afford. That means, keeping an eye on mortgage-rate fluctuations and where home prices are headed. But there are other, less obvious, factors that …

Home Buyers See Stable Conditions Ahead

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Fannie Mae’s monthly Home Purchase Sentiment Index surveys Americans about the housing market, buying and selling a home, prices, mortgage rates, etc. According to the most recent release, consumers see stable conditions ahead. In fact, an 8 percent increase in the number of respondents who feel mortgage rates will go down over the next 12 months is an indication that …