News

10 Remodeling Projects that Add Home Value

Steel Entry Door According to Remodeling Magazine’s 2015 Cost vs. Value Report, there’s one remodeling project that actually returns at least 100% of your investment through added home value: adding a steel entry door like this one from Pella. Besides its aesthetic appeal, a new steel front door can improve your home’s security and energy efficiency as well. […]


U.S. Economy Unexpectedly Picks Up Speed

The U.S. economy grew at a 2.1% annualized pace in the third quarter, picking up speed from the second quarter’s 2% rate and surprising economists, who expected the Commerce Department’s second estimate to be unchanged at 1.9% on Wednesday. The upward revision was based on stronger readings for private inventory investment, nonresidential fixed investment, and personal consumption […]


Zillow Says Housing Market Will Open Up After “Silver Tsunami”

Although housing inventory may be a little slim these days, Zillow says it expects for Baby Boomers to open the housing market back up as they vacate their homes over the next two decades. About a third of homes in the U.S. are owned by those who are 60 and older. In the 2020s and 2030s, Zillow expects […]


Private Mortgage Insurers’ Market Share Nearly Equals FHA’s

Private mortgage insurance now has almost matched the Federal Housing Administration program in market share, having gained approximately eight percentage points in the past five years, Keefe, Bruyette & Woods found. And that shift in credit enhancement for low down payment mortgages is likely to continue going forward, but not at the same pace, said […]


Gen Z Hates Renting More Than Millennials Do

A recent study from Apartment List showed that the number of Millennials who plan to keep renting is increasing, with the percentage now over 12%. And this isn’t because people in their mid-twenties to late-thirties think that apartments are trendy or “hip.” Rather, the study showed that the pessimistic respondents – those who expect to rent despite wanting […]


Potential Housing Mandates Take California Coastal Cities by Surprise

Newport Beach needs to approve 4,800 new housing units over the next decade. Historically, that would take about 40 years, said Seimone Jurjis, Newport’s community development director. But with pressure from state leaders to address the housing crisis, the Southern California Assn. of Governments voted this month to shift the more of the mandate to […]


MBA Chart of the Week: Percent of Loans in Foreclosure

The third quarter results of MBA’s National Delinquency Survey, released last week (https://www.mba.org/news-research-and-resources/research-and-economics/single-family-research/national-delinquency-survey), showed improvements in delinquency and foreclosure measures. The overall delinquency rate fell from last quarter to 3.97 percent, the lowest level since 1995. While delinquencies decreased across all loan types, they dropped most dramatically for FHA loans to 8.22 percent, down 100 […]


Finance of America Reverse Drops Reverse Mortgage Eligibility Age to 60

Finance of America Reverse announced this week that the eligibility age for borrowers to take out a reverse mortgage is now 60 years old. The change from an eligibility age of 62 to 60 only applies to FAR’s proprietary offerings, including HomeSafe Standard, HomeSafe Flex, and HomeSafe Second. The lowered age requirement does not apply to Federal […]


Some Millennials Say They Plan on Renting Forever

Although Millennials seem to be taking over the housing market, nationally, 12.3% of Millennial renters say they plan to keep renting. Last year, 10.7% said they plan to always rent, up over 2%, a study from Apartment List said. For most, being able to make a down payment is the biggest struggle when it comes to purchasing a home. In fact, nearly […]


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