Millennial Buyers Make Up Bulk Of Home Sales

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According to new data from the National Association of Realtors, Americans age 34 and younger made up the largest group of home buyers in the past year. In fact, millennials accounted for 32 percent of all buyers, which was up 1 percent from the year before. Buyers between the ages of 35 and 49 were the second largest group at …

Orlando ranks 9th in terms of salary needed to buy a home

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From The Orlando Sentinel Middle-income families are on pace to afford a median-priced home in Orlando and metro areas, according to a recent study from mortgage resource website HSH.com. Average income and median home prices vary from city to city, but HSH, a publisher of mortgage industry data, determined the annual before-tax income required to afford an average priced home in 27 U.S. metros. The figures factor …

Gov’t Report Finds Strengthening Housing Market

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Each month, the U.S. Department of Housing and Urban Development and the U.S. Department of the Treasury release a housing scorecard which collects key data on the housing market’s health and the results of the administration’s mortgage modification and foreclosure prevention efforts. According to the most recent release, the market is on a strong trajectory with many key indicators showing …

Demand Slows As Mortgage Rates Rise

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According to the Mortgage Bankers Association’s Weekly Applications Survey, mortgage rates rose across all loan categories last week, including 30-year fixed-rate loans with both conforming and jumbo balances, mortgages backed by the Federal Housing Administration, and 15-year fixed-rate loans. The increase caused refinance demand to slow. In fact, refinance activity fell 3 percent from the week before and was just …

Americans Increasingly Optimistic About Housing

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Americans are increasingly optimistic about the economy, their personal financial situation, and the housing market, according to the most recent results of Fannie Mae’s monthly National Housing Survey. The survey – which polls Americans to assess their views on household finances, buying and renting homes, home price changes, and more – found a record number of respondents who said the …

Down Payment Programs Hope To Boost Buyers

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Many experts and industry insiders expect this spring’s selling season to be an improvement over last year’s. Historically low mortgage rates and improvement in the job market are among the top reasons for the increased optimism. But, according to Freddie Mac’s Dave Lowman, executive vice president of single-family business, there is another reason to expect prospective home buyers to be …

Housing Market Ready To Shift Gears

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Each month, Fannie Mae’s Economic & Strategic Research Group releases an updated outlook on the housing market and economy. According to the most recent report, falling unemployment and rising incomes should help the pace of the housing recovery shift gears in the months ahead. Doug Duncan, Fannie Mae’s chief economist, said things should pick up this year after an uneven …

What Type Of House Are Buyers Looking For?

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Typically, spring signals the housing market’s busiest season. But as potential home buyers ready themselves to hit the streets in search of their dream house, what type of house will they be looking for? According to the 2014 National Association of Realtors’ Home Buyer and Seller Generational Trends Report, it depends on their age group. For example, 80 percent of …

Mortgage Rates Fall After Recent Increases

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According to the Mortgage Bankers Association’s Weekly Applications Survey, mortgage rates fell last week, after rising slightly in previous weeks. The survey – which covers 75 percent of all retail residential mortgage applications – found that rates were down across all loan categories, including 30-year fixed-rate mortgages with both conforming and jumbo balances, as well as loans backed by the …

Majority Of Markets Returning To Normal

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Freddie Mac’s Multi-Indicator Market Index monitors the stability of the housing market by comparing current conditions to long-term normals in categories such as applications to buy homes, payment-to-income ratios, on-time mortgage payments, and the job market. According to its most recent release, nearly 80 percent of the nation’s housing markets are stabilizing. In fact, 38 of 50 states are now …