Mortgage rates have been rising sharply over the past couple of months. The 30-year fixed-rate mortgage was 4.2 percent in December, the highest of 2015 and 2016, and it appears to stay above 4 percent for a long while. Mortgage rates are still historically low, but crossing over from the 3 percent range to 4… Continue Reading How Much Will Your Monthly Payment Change?
In the Housing Opportunities and Market Experience (HOME) Survey, respondents are asked a series of unique questions each quarter. In the December survey, consumers were asked whether they hosted family and friends at home during the holidays, on weekends, and for regular gathers, as well as whether moving near family was important to them. Fifty-one… Continue Reading December HOME Survey: Moving Near Family and Hosting Friends
WASHINGTON (January 9, 2017) – Lower costs are coming for homebuyers seeking a Federal Housing Administration -insured mortgage. FHA announced today that they are cutting annual premiums for mortgage insurance from 0.85 percent to 0.60 percent, a move the National Association of Realtors® said breathes new life into the program. “FHA mortgage products exist to… Continue Reading FHA Mortgage Insurance Premium Reduction a Fresh Start, Says NAR President Brown
In a move that signals greater normalization of the housing market, the FHA announced a reduction in its annual insurance premium of 25 basis points. This move would reduce the fee it charges from its 0.85 percent to 0.6 percent. NAR estimated the merit of such a 10 to 25 basis point reduction last spring.… Continue Reading FHA’s Reduces Fee to Pre-Crisis Level
For homebuyers looking to get a mortgage backed by the Federal Housing Administration, things are about to get easier – and less expensive. The FHA announced today that they are cutting their annual mortgage insurance premium from .85 percent to .60 percent. National Association of Realtors® President William E. Brown said the move is an… Continue Reading FHA Cuts Mortgage Insurance Premium for First Time Since January 2015
The new year has already started off with a bang and NAR’s Research Team has many projects in the works for our members, the media, and the general public related to the housing market. We’ve compiled a little cheat sheet below to help you navigate our resources and keep you up to date with the… Continue Reading 2017: What You Can Look Forward to from NAR Research
Credit: Morguefile.com/GaborfromHungary Here we are at the beginning of a new year once again, and you’re probably already thinking about how to make 2017 even better than 2016. But let’s take a minute and appreciate the great work you did last year. It was definitely a big year for real estate, and we asked real… Continue Reading How Will You Make Your Mark in 2017?
Technology, architecture, residences, resolutions, and preservation. As someone who is used to multiple screens at work, this would be a dream for home use! Remember back when being able to store a gig on a flashdrive was exciting? Welcome to the future. The future will also allow us the opportunity to dismiss robots instead of people… Continue Reading What We’re Reading: January 2-6
The following is NAR Chief Economist Lawrence Yun’s reaction to today’s December jobs report from the U.S. Bureau of Labor Statistics. 156,000 jobs were created last month and wages meaningfully increased 2.9 percent year-over-year. “The top figure of net job creation in December shows a positive but decelerating trend. The job additions over the month… Continue Reading Instant Reaction: December Jobs Report
Mortgage rates have risen since the election of Donald Trump, from 3.5% to the recent 4.2%. Bond investors are perceiving an economic stimulus package to uplift the economy. More business activity, greater commerce, and faster job growth are certainly good news, which thereby also no longer justifies the ultra-low interest rate environment of the past… Continue Reading Stressed Over Higher Interest Rates?