Top Headlines
Japanese Firm Acquires Majority Stake in Utah’s Visionary Homes
Visionary Homes was founded in 2004 and has 30 active Utah communities. Continue Reading Japanese Firm Acquires Majority Stake in Utah’s Visionary Homes
JD Vance: ‘Absurd Cost of Housing is the Result of So Many Failures’
“Joe Biden’s inflation crisis, my friends, is really an affordability crisis,” he said. Continue Reading JD Vance: ‘Absurd Cost of Housing is the Result of So Many Failures’
Shawn Malhotra Joins Rocket Companies as Chief Technology Officer
Malhotra previously held several technology leadership roles at Thomson Reuters. Continue Reading Shawn Malhotra Joins Rocket Companies as Chief Technology Officer
Utah’s Capital Community Bank Acquires Security Home Mortgage
SMH will become an independently operated subsidiary division of CCBank. Continue Reading Utah’s Capital Community Bank Acquires Security Home Mortgage
Tibor Hollo, a Holocaust Survivor Who Changed Miami’s Skyline, Dies at 96
“You cannot do it alone,” he said about his success in real estate development. Continue Reading Tibor Hollo, a Holocaust Survivor Who Changed Miami’s Skyline, Dies at 96
Average mortgage debt rose 14% over the past 5 years
Source: Rome News Tribune --- The average mortgage debt held by American homeowners has risen 14%, according to Experian data. At the end of 2021, the average mortgage balance was $223,952 in the U.S., up from an average of $196,403 for the same time period in 2017. ...
Half of America has no idea what a mortgage actually is
Source: SWNS Digital --- Half of America has no idea what a mortgage actually is, new research suggests. That’s according to a recent survey that asked 2,000 Americans, 73% of them homeowners, to test their knowledge of both the housing market and financial lending...
Hidden costs of buying a home
Source: Bankrate --- If you’re planning to buy a new home soon, you’ve likely given some thought to the maximum price you can pay and the down payment you can offer. And if you plan to finance the purchase, the monthly mortgage payment could also be on the list of...
In this state, seniors can now freeze their property taxes — here’s how
Source: Market Watch --- A new property tax relief law went into effect this week in Maine, which could be a boon for seniors in the nation’s oldest state that also has the fourth-highest homeownership rate. Under the “Property Tax Stabilization Program,” seniors who...
Today’s Mortgage Rates & Trends – August 8, 2022: Rates seesaw
Source: Investopedia --- Rates on 30-year mortgages rose by almost four-tenths of a point Friday, extending a three-day pattern of dramatic up and down swings ranging from a third to a half a percentage point each day. National Averages of Lenders' Best Rates Loan...
Can you refinance a seller-financed mortgage?
Source: The Mortgage Reports --- Some home buyers get their mortgage loans from the home’s seller — not from a mortgage lender. This kind of financing, known as “owner financing” or “seller financing,” can help buyers who don’t meet standard mortgage guidelines at the...
As Mortgage Rates Stay Up, Lenders and Brokers Need to Get ‘Creative’
Source: Market Scale --- Freddie Mac’s weekly averages since July 14 have been volatile, with spikes and dips in 30-year fixed, 15-year fixed and 15-year adjustable mortgage rates. But even with some short term relief after August 4’s numbers brought rates below 5%...
Thinking of Buying? These Cities Are Among the Fastest-Cooling Housing Markets in the Country
Source: The Motley Fool --- As potential home buyers think twice about whether now is the right time to buy, sellers in some areas are dropping their prices. The red-hot housing market ushered in by the pandemic is now cooling. And according to Redfin, the areas of...
Homeownership May Seem Out of Reach for Generation Z. How You Can Prepare Now
Source: Time --- Houses are expensive — and Generation Z will soon discover homebuying is not what it used to be. Those born between 1997 and 2012 are dubbed Generation Z or “Zoomers”– and 86% of them want to buy a home with 45% wanting to do it in the next five...
Current Mortgage Interest Rates: August 4, 2022—Mortgage Rates Trend Higher
Source: Forbes --- Today, the average rate on a 30-year fixed mortgage is 5.54%, according to Bankrate.com, while the average rate on a 15-year mortgage is 4.80%. On a 30-year jumbo mortgage, the average rate is 5.54%, and the average rate on a 5/1 ARM is 4.16%.
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