As mortgage rates remained at record lows last week, homebuyers rushed out to apply for a mortgage. Homebuyer mortgage applications have surged for five consecutive weeks due to pent-up demand from shelter-in-place orders in March and April as well as a demand for more living space as a result of the pandemic.Purchase mortgage volume dropped 3% from last week’s high pace, but remains 18% higher than a year ago, the Mortgage Bankers Association
The luxury housing market rebounded with force in May, outpacing the rest of the market in price growth and listing views online, according to realtor.com®’s Luxury Housing Report. Second home markets are garnering particular attention from this sector of buyers.Home buyers appear to be shifting their focus from dense, urban metros to smaller, less populated areas and second-home markets.“Unlike prior downturns, the luxury market is leading
A majority of real estate investors in the U.S. say they’re optimistic about the strength of the housing market, despite the nation caught in a recession caused by the pandemic. A new survey from LendingHome, a resource for investors, reflects 600 respondents among three investment segments: house flippers, landlords of single-family rental homes, and real estate investment mortgage brokers.Eighty percent of the investors surveyed say they beli
Your identity can be bought for as little as $1,192.58, a new study from Reviews.org shows. Scammers who steal identities and private information through data breaches sell the private information on the dark web, a collection of encrypted websites accessible only through special browsers.And while you may be at more risk for identity theft depending on where you live, the danger doesn't necessarily break down into regional categories, the study
The new-home market is booming as states wind down sheltering-in-place restrictions, easing the search for a new home. Sales of newly built single-family homes last month jumped nearly 13% over 2019—that is the strongest May since 2007, according to newly released data from the U.S. Census Bureau.However, while sales are rebounding, housing starts—the construction of new homes—posted a lackluster month, showing that builders are struggling
Outdoor living spaces are growing in popularity, and Americans are reassessing their spaces to spruce them up or hunting for new homes that offer more yard appeal.“Everyone has been cooped up since mid-March,” architect Michael A. Menn, owner of a Chicago-based design/build firm, told Forbes.com. “I have seen more people ask for outdoor living environments, screened porches, gazebos and decks. Being able to spend outdoor time with your fami
The National Association of REALTORS® welcomed two proposed rules by the Consumer Financial Protection Bureau on Monday in what it believes will help bring greater stability to the housing market for homebuyers. The CFPB moved to extend its Qualified Mortgage Patch and amend its QM definition by removing a previous debt-to-income limit that home buyers were required to meet, replacing it with a price-based approach that would account for the dif
Investors are increasingly turning to warehouses as investments during the pandemic, The Wall Street Journal reports. The growth of e-commerce—which has only widened since the start of the COVID-19 crisis—has sparked the need for greater storage space for businesses. Warehouses have reportedly fared better than other property types during the pandemic.Investors are making headlines for their large scale purchases: This month, real e
Google searches for backyard coops to raise chickens reportedly have been on the rise since the beginning of the COVID-19 pandemic. Homeowners are exploring ways to have access to fresh eggs in a time when visiting the grocery store has become more stressful and food shortages grow.“Interest in some of my chicken articles has gone up over 500% since the end of February,” livestock expert Shelby DeVore, founder of Farminence, told realtor.com
The U.S. Supreme Court’s landmark ruling last week extending workplace discrimination protections to LGBTQ employees could influence a sea change in where LGBTQ people decide to live, work, and buy homes, according to realtor.com®. Surveys show the LGBTQ community has tended to favor living in areas known explicitly for being gay-friendly. But now, with less fear of discrimination, their options for places to call home may open
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