Realtor.com reports on the potential ‘Brexit’, and how foreign investors may become fierce competition with first-time homebuyers here in the States. This may only effect popular housing markets such as New York; Washington, DC; Miami; Los Angeles; and San Francisco, but may stretch to Chicago, Dallas, and Florida’s Tampa Bay. More, here.
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HousingWire has a piece today on a recently discovered–and quickly shut down–scam involving law firms trying to bilk homeowners who are in the process of foreclosure out of money. You can read more, here.
The Boston Globe reports that mortgage rates are at their lowest point since 2013, and refinance activity is up. Mike Fratantoni, MBA chief economist, said ‘‘Conventional refinance application activity picked up slightly due to the rate drop, but purchase activity dropped sufficiently to cause an overall drop in mortgage application volume for the week.”More, here.
CBS news has an article today on the 5 things Realtors wish buyers wouldn’t do. Yes, it is broadly generalized, but it’s worth your perusal. In a nutshell, being overly picky, closed-minded, slow to act, or grossly underbidding are all behaviors that Realtors begrudgingly deal with often. More, here.
worried real estate agent and house for sale
Bankrate has a new article about recent FHA loan guidelines in relation to student loan debt. Government-backed student loans are generally deferred while the student is in school and for 6 months after. The FHA used to exclude student loan debt from borrowers’ DTI (debt-to-income), but that has changed. More, here.
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Nearly 75% of students paying off student loans are having trouble buying a home. In an article published today, The Washington Post examines the financial insecurity those with student debt feel, and a recent survey that The National Association of Realtors conducted along with the nonprofit American Student Assistance. More, here.
Mortgage applications jumped 9.3% last week. Matthew Graham, chief operating officer of Mortgage News Daily, wrote “When rates have been near these three-year lows, we’ve only seen them dip lower briefly — and usually not by that much. That means locking is never a bad idea at current levels.” CNBC has an explanatory article, here.
In continuation of the theme from yesterday’s article, a Virginian television station, WAVY, has a short segment on updating a bathroom to accommodate aging homeowners. Replacing the tub with a seat-shower, avoiding trip-hazards, and grab bars placed properly are among the suggested upgrades. Watch, here.
The Wall Street Journal addresses a reader’s question about whether to move in retirement, or remodel their existing home to address the needs of aging inhabitants. The response cites 3 extensive studies to help homeowners live safely and comfortably on their own as they grow older. More, here.
Selena Maranjian has a piece today on The Motley Fool offering tips for mortgage shopping. As we say often in this forum, a mortgage loan is—for most of us—the largest investment we’ll ever make. It is always in our best interest to do the requisite research to protect ourselves, and this article has some good points.
