Consumers More Upbeat on Buying and Selling Despite Lower Price Expectations

Fannie Mae says its Home Purchase Sentiment Index (HPSI) which, before a slight setback in July, had been rebounding strongly from its April COVID-19 related plunge, got back on track last month. The August index, based on responses to six questions in the National Housing Survey (NHS), increased 3.3 points to a 77.5 reading. Five of […]

Almost 20 Million Homeowners are Prime Refi Candidates

Freddie Mac’s Mortgage Market Survey published yesterday reported a 7-basis point decline in the 30-year mortgage rate over the previous week and reported that the resulting rate, 2.86 percent, was a new record low. Black Knight reports that this new rate has had a big impact on the pool of refinance candidates. The company says there are […]

New-Home Construction in Canada Hits Its Highest Since 2007

Construction on new homes surged to the highest level in more than a decade as Canada’s housing market continues to defy expectations of a slowdown. Housing starts surged to 262,396 units in August on an annualized basis, up 6.9% from an already elevated 245,425 units a month earlier, Canada Mortgage and Housing Corp. said Wednesday […]

Mortgage Lending Volume in 2020 Likely to Break Records

Fannie Mae, the world’s largest mortgage financier, said mortgage lending this year probably will reach an all-time high of $3.9 trillion. The dollar-volume record will be boosted by $2.4 trillion in refinancings, the highest level since 2003 and more than double the level seen in 2019, the mortgage giant said in a forecast on Tuesday. […]

10 Clever Storage Ideas for Small Laundry Room

After years of living in New York City with no washer/dryer unit, my tiny laundry room feels luxurious. But for those of you who, like me, have a laundry room that could be described as “petite,” you know firsthand that there are some small-space storage challenges that you have to face. With a little creativity, […]

Mortgage Rates Hit New Record Low

Mortgage rates hit a new historic low. Latest numbers released from Freddie Mac peg the average for 30-year fixed-rate mortgages at 2.86%, the lowest rate in the survey’s history dating back to 1971. This is a significant decline from the 3.56% average from the same period in 2019, according to the Primary Mortgage Market Survey. […]

Zillow: Nearly 2 Million Renters Can Become Homeowners, Thanks to Telecommuting

Telecommuting is growing in popularity as more companies establish work-from-home protocols. With this new flexibility, nearly 2 million renter households could become homeowners, according to Zillow. Renters who are employed with a job that could be done remotely and might be priced out of their current market could afford to buy the typical starter home elsewhere in the U.S. […]

Mortgage Apps Up 2.9%

The Mortgage Bankers Association’s Weekly Mortgage Applications Survey reported a 2.9% increase in mortgage applications for the week ending Sept. 4, 2020. On an unadjusted basis, mortgage applications increased by 2%. “Mortgage rates declined last week, with a noteworthy 5-basis-point decrease in the 15-year fixed rate to a new record low of 2.62%. The drop […]

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