Homebuilder confidence in housing market conditions dipped two points in January; ongoing challenges including labor shortages and materials costs were cited by the National Association of Home Builders, which provides monthly readings on home builder sentiment. Three component readings of the Housing Market Index declined by one point each. Readings for current sales conditions, housing market conditions for the next six months and for buyer traffic within new single-family housing developments were 79, 78 and 54 respectively. Readings over 50 indicate positive builder sentiment. The reading … [Read more...]
Archives for January 2018
Selling Your Home to Millennials? 3 Tips That Will Help You Get the Sale Closed
Are you thinking of selling your home this year? If so, you are almost certainly going to interact with millennial homebuyers. This generation numbers around 80 million and are the fastest-growing consumer demographic in the country. As their earning power continues to increase, millennials are now turning their attention to real estate. In today's post, we'll share three tips that you can use to help make your listing more attractive to younger millennial homebuyers. Minimalize As Much As Possible Is your home full of trinkets and other clutter? If so, it might be best to box all of that up … [Read more...]
What’s Ahead For Mortgage Rates This Week – January 22, 2018
Last week's economic news included readings on home builder confidence, housing starts and building permits issued. Weekly readings on mortgage rates and new jobless claims were also released; the week wrapped with the University of Michigan's report on consumer sentiment. Home Builder Confidence Dips, Remains in Positive Territory According to the National Association of Home Builders, builder confidence dropped two points in January to 72, but high demand for homes continued to provide builders with positive outlooks on housing market conditions. While continued concerns over labor and lot … [Read more...]
How Much Is the Right Amount to Commit to Your Down Payment? Let’s Take a Look
Are you thinking about buying a new home? If you are going to take out mortgage financing, one consideration you will have is your down payment, which is the amount you pay up front in cash to cover some of the purchase cost. Let's consider a few points that will help you to decide how much is the right amount for your down payment. How Much Do You Have? The most obvious question you will need to answer is: how much do I realistically have to place as a down payment? Keep in mind that your down payment is money that you aren't going to see again until you sell your home. While you want to … [Read more...]
On Time, Every Time: How Being Late on Monthly Payments Can Affect Your Mortgage
Are you the type of person that struggles with remembering to pay their bills on time? You're not alone. People across the country regularly submit late monthly payments, inflicting terrible damage to their credit. Let's take a quick look at how paying your loan or other monthly payments late can have a negative impact on your mortgage. Your Credit Score Is At Risk As you already know, almost all banks, credit cards, mortgage companies and other lenders rely on your credit score to help assess the risk of lending money to you. Paying any of your payments late – even something as small as … [Read more...]