Aramco Report

The Blog
Home prices rise 10 percent in January

For the first time in eight years, CoreLogic’s Home Price Index recorded a double-digit increase in home prices on a year-over-year basis. CoreLogic reports that home prices in January were 10 percent higher than they were a year earlier. This follows a 9.2 percent annual increase in December. “Rec...

Read More
Forbearance extensions offered for some mortgages

The Federal Housing Finance Agency announced last week that it was offering an extension of its forbearance program to homeowners with mortgages backed by Fannie Mae and Freddie Mac. Those impacted financially by the COVID-19 pandemic will be provided an additional three months of forbearance, bring...

Read More
First-time home buyers look beyond FHA loans

For first-time home buyers, obtaining a home loan backed by the Federal Housing Administration is often the first choice. It allows for low down payments, less stringent credit requirements and are often widely available. But according to a new analysis from the National Association of Realtors, the...

Read More
New homes may not be as expensive as you think

With competition being fierce in the home buying market, some might consider staking their claim on a newly built home as a way to bypass the bidding wars. But one of the predeterminations that is often associated with new homes is that they are more expensive that buying something second-hand. Howe...

Read More
The home buying entourage

It used to be that a home buyer would meet up with their agent at a property, check out and maybe tour a couple more in an afternoon. But for some very particular home buyers these days, viewing homes is much more involved. Some are assembling a home touring entourage that includes themselves, their...

Read More
Staying on top of home maintenance can improve home value

Being a homeowner doesn’t require you to be an electrician or a plumber or an appliance technician. But learning how to do some basic maintenance around the house can pay dividends later on. Studies show that practicing a little D.I.Y. can improve home values over the long run and save money on cost...

Read More
San Diego puts limits on short-term rental properties

Being a popular tourist destination has brought forth a lot of short-term vacation rental units to San Diego over the years. Popular apps like Airbnb have made it easier than ever for property owners in the city to list their homes as pseudo-hotels. Earlier this week, the San Diego City Council deci...

Read More
Winter weather hinders mortgage activity

Mortgage applications fell to their lowest point in two months after severe winter weather across many parts of the country kept buyers sidelined. Total mortgage activity fell 11.4 percent during the week ending February 19. This latest information is according to data from the Mortgage Bankers Asso...

Read More
Forbearance rate falls for third consecutive week

The number of properties in forbearance has declined for the third week in a row according to a new estimate from the Mortgage Bankers Association. There are currently 2.6 million mortgages in forbearance plans in the U.S. as of the week ended February 14. This represents 5.22 percent of mortgage pr...

Read More
Calif. housing market starts 2021 off strong

With high demand from buyers and double-digit growth in both prices and sales, the housing market in California started off the new year with a bang. According to new data released by the California Association of Realtors, statewide, January home sales are up 22.5 percent from a year ago. This mark...

Read More