Source: US News — An underwater mortgage, also called an upside-down mortgage, occurs when the loan’s principal balance is higher than the home’s fair market value, resulting in negative equity. In other words, a mortgage becomes underwater when you...
Source: Fox Business — When it comes to researching which purchases best fit their finances, buyers said they spent more time browsing for cars and vacations than they did mortgages, a recent survey by Zillow Home Loans said. Seventy-two percent of prospective...
Source: Marketplace — The housing market is ending 2022 on a pretty sour note. Pending home sales in November dipped to their second lowest level since the National Association of Realtors started tracking that stat 20 years ago. And though mortgage rates have...
Source: Yahoo! News — Mortgage rates increased this week, breaking their six-week streak of declines just ahead of the new year. The average rate on the 30-year fixed mortgage rose to 6.42% from 6.27% the week prior, according to Freddie Mac. That marked the...
Source: Fortune — Retirement planning often includes the goal of eliminating mortgage payments before leaving the workforce behind. This approach is based on the idea that it’s easier to make ends meet in retirement by reducing expenses and not having to deal...
Source: US News — LOS ANGELES (AP) — Economists are baffled by a wider-than-usual divergence between long-term mortgage rates and the yield on the benchmark U.S. government bond that is driving a sharp rise in borrowing costs and helping to torpedo the U.S....
Hits and Misses for the Real Estate Week of June 15-19
