U.S. pending home sales unexpectedly rose in December for the first time in seven months, wrapping up an otherwise poor year for a housing market battered by higher mortgage rates. The National Association of Realtors index of contract signings to purchase previously owned homes increased 2.5% last month to 76.9, according to a release Friday. … [Read more…]
The correction in these markets could rival the crash that occurred in the wake of the housing bubble more than a decade ago.
Dave Stevens discusses the psychology of this housing market and five things loan originators need to remember if they want to succeed now.
Homebuyer competition is fading fast in these key places across the country.
PacWest Bancorp is restructuring its operations as it looks to exit silos and unify its business lines. That includes making changes at its Civic Financial Services mortgage lending business. “PacWest has a long history of acquisitions that brought us great customers and talented employees, but also very processes and different cultures,” said Paul Taylor, who … [Read more…]
Buying a home still makes sense, but becoming a homeowner before you’re ready can have costly consequences. How much you have saved and how long you’ll stay in one place are the biggest factors in deciding whether you should rent or buy.Buying a home sounds like it makes sense, but becoming a homeowner before you’re ready can have costly consequences.
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Like many U.S. housing markets, Rochester, New York, has been facing a gradual decline in home sales due to a general shortage in the number of properties available. Research from the Greater Rochester Association of Realtors indicates that closed sales volume decreased by 2.9 percent in 2018 following a 1.4 percent decline in 2017. While […]
The post Best Mortgage Rates in Rochester, NY appeared first on Good Financial Cents®.
Sales of new U.S. homes rose for a third month in December, wrapping up an otherwise disappointing year in which soaring borrowing costs stifled demand and weighed on the economy. Purchases of new single-family homes increased 2.3% to an annualized 616,000 pace after a downward revision to the prior month, government data showed Thursday. The … [Read more…]
Newcomers to the market still face mortgage rates above 6% and lofty home prices, but they can secure strong investments in some up-and-coming towns minutes away from major metropolitan centers, according to Realtor.com. “For those with a bit of flexibility in where they live, there are markets where young buyers can find not just a … [Read more…]
Local markets is a HousingWire magazine feature spotlighting housing trends in five markets across the country.