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Housing News: Financing

Labor Day

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Gone are the days of ‘20% down or no mortgage.’ What could you build with the equity in your house?
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ARMs look very different in 2017 than in 2005, and their popularity is edging back up. Overall, home buyers have preferred FRMs over ARMs in the past decade.
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Reverse mortgages — pitched as a way to ‘age in place’ — are pushing more elderly homeowners into foreclosure
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On Aug. 30, 2017, the Bureau issued a detailed summary of changes and clarifications of the 2017 TILA-RESPA rule . The new summary outlines and explains the changes and clarifications set forth in the 2017 TILA-RESPA Rule.
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Mortgage-buyer Freddie Mac reports that the average rate on a 30-year, fixed-rate mortgage fell to 3.82% this week from last week’s 3.86%.
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Interesting Housing News

 

Independence Day

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Quicken LoansDid you know that Quicken Loans now offers 1% down mortgages?
They’ve been flying under the radar with its 1% down mortgage, which it began nearly six months ago.
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Florida Association of RealtorsHave a Lower Credit Score?  Apply For a Mortgage.
It seems illogical: Lenders say they’ll now approve loans to buyers with lower credit scores, but the average score of people actually approved continues to rise.
There’s no reason to be a no-show in the home purchase market if you know where to target your application.
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BREXITBREXIT: What’s the FIXIT for U.S. Home Buyers and Sellers?
The UK’s exit from the EU almost certainly guarantees interest rates will remain low (and possibly go lower) over the next few months. The cost of money may never be better for a potential buyer.
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Vacation Home BuyersWhy 2016 could be the year Canadians start buying more US vacation homes…
Home prices are rising faster in Canada than they are in the US, and the National Association of REALTORS® says more Canadian buyers will snap up stateside vacation properties as a result.
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Rent or Buy?The Age Old Question: Rent or Buy?
Potential home buyers must decouple “investment” from “consumption” in order to make the best decision for themselves.

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