Aramco Report

The Blog
Late mortgage payments soar in SoCal

Mortgage delinquency levels in Southern California are higher than they are in the rest of the nation with nearly four percent of homeowners in some regions falling behind on payments. A year ago, it was less than half a percent. This latest data comes from CoreLogic. Shuttered businesses and laid...

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Home prices hit new all-time high

Home prices in the U.S. surged 8.2 percent over the last year to a national median of $323,800. While this pales in comparison to San Diego’s median price of nearly $650,000, it still represents a new all-time high for the U.S. housing market. July marked the third time in the last four months that...

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San Diego home buyers compete over limited supply

The housing shortage in San Diego is showing no signs of improvement according to a newly released report from the Greater San Diego Association of Realtors. The volume of homes on the market in the region decreased 53.6 percent last month for detached homes. Record low mortgage rates are bringing...

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Foreclosures on the decline even as unemployment remains high

Record breaking unemployment would ordinarily equate to a staggering increase in foreclosures but as with many other things, the current pandemic is upending the traditional norms. Instead, ATTOM Data solutions is reported in its July 2020 U.S. Foreclosure Market Report that new foreclosure filings...

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Summer home-buying season peaks late

May has been known for years as the traditional kick-off to ‘home buying season’ in the US when households typically begin their house hunting. But this year August is proving to be the real start to the hot summer market. According to a new Realtor.com report, current growth in home sales, buyer de...

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Mortgage rates fall to new all-time low

The average 30-year fixed mortgage rate is now 2.75 percent, a record-low. This is the eighth time this year that mortgage rates have tumbled to new lows according to Freddie Mac. These low rates have helped keep demand for homes and refinancing on an upward trajectory even as other sectors of the e...

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Foreign buyers retreat from US housing market

Scarcity in the housing market in the US had led to a 16 percent decrease in home purchases from foreign home buyers over the last year. According to the National Association of Realtors’ 2020 Profile of International Transaction in US Residential Real Estate, the lack of home inventory has caused f...

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Housing market demand continues upward trend

Even in the midst of a global pandemic that has rocked economies, the U.S. housing market continues to see strong demand from homebuyers. According to the seasonally-adjusted Redfin Home Buyer Demand Index for the four-week period ending July 26, demand was up 27 percent from pre-pandemic levels in...

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FHA loans offer easier path to homeownership

Qualifying for a mortgage, especially for those who don’t have a lot of savings, can be challenging. And as the pandemic wages on, mortgage credit availability appears to be dropping as lenders tighten borrowing standards. Fortunately, for some buyers, home loans through the FHA offer an easier alte...

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1 in 4 homeowners considered ‘equity rich’

A growing number of Americans are finding their homes values increasing. According to ATTOM Data Solutions’ Q2 U.S. Home Equity & Underwater Report, 15.2 million residential properties across the nation are considered equity-rich. This represents 27.5 percent, or about one-in-four homeowners – up fr...

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