Record low mortgage rates make 22 million eligible for refinancing

Record low mortgage rates make 22 million eligible for refinancing

Tumbling interest rates mean millions of homeowners in the U.S. are eligible to refinance their existing mortgage into a lower rate. Average mortgage rates hit a new record low last week and some experts say the drops may not be over yet. The lowest mortgage rates in the 50-year history of Freddie...

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Home flipping in U.S. climbs to 14-year high

Home flipping in U.S. climbs to 14-year high

The number of investors in the U.S. flipping homes for a profit has climbed to a 14-year high but data suggests that the practice growing less profitable. ATTOM Data Solutions released its 2019 U.S. Home Flipping Report this week which showed 245,864 single-family homes and condos were flipped durin...

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Record low mortgage rates could drop further

Record low mortgage rates could drop further

An emergency rate cut from the Federal Reserve on Tuesday and 10-year Treasury bond yields at historic lows have some experts predicting that mortgage rates could fall even further than they already have. Daily rate surveys from Freddie Mac show that current 30-year fixed mortgage rates are current...

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Refinance boom as mortgage rates hit bottom

Refinance boom as mortgage rates hit bottom

The cost of financing a home is cheaper than it has ever been. According to mortgage giant Freddie Mac, 30-year fixed rate mortgages fell to an all-time low this week. Mortgage rates had already been sitting near historic lows for several weeks but the yield on the 10-year Treasury bond falling ha...

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Credit scores are rising; homebuyers benefitting

Credit scores are rising; homebuyers benefitting

Securing good terms on a home loan can help buyers save money and help make some homes more affordable. According to new information from Experian, the average credit score in the U.S. has hit a record high of 701 as of last year. Approximately 1.2 percent of Americans had a perfect FICO score of...

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Home purchase activity reaches 11-year high in January

Home purchase activity reaches 11-year high in January

Homebuying season arrived early this year. According to data from the Mortgage Bankers Association, January 2020 marked an 11-year high for mortgage applications. Low mortgage rates have prompted the out-of-season uptick in homebuying according to experts. Spring is generally considered the universa...

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American households going wild for fur babies

American households going wild for fur babies

The number of households in the U.S. with pets currently stands at more than two-and-a-half times that of households with children. Data from the U.S. Census Bureau’s American Housing Survey shows that the share of homes with kids is 27 percent while the share of homes with pets is at 68 percent. K...

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San Diego home inventory levels lowest in U.S.

San Diego home inventory levels lowest in U.S.

Record low housing supply is making it increasingly difficult for homes to remain affordable. According to a report from realtor.com, tight inventory levels is making some metropolitan areas, like San Diego, a difficult place to find a home. In a ranking of the toughest and easiest market to find a...

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Mortgage rates approaching all-time low

Mortgage rates approaching all-time low

Mortgage rates have fallen yet again. As of Friday, the average rate for a 30-year mortgage dropped to its lowest point since October 2016 amid fears over the outbreak of the COVID-19 coronavirus. The fixed rate 30-year mortgage averaged 3.45 percent according to Freddie Mac as of this week. The all...

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Buyers and sellers worried about disaster

Buyers and sellers worried about disaster

With what appears to be an increase in both the frequency and intensity of natural disasters, homebuyers and sellers are worried. According to a new survey conducted by Redfin, nearly 3 out of four respondents (73 percent) state that concerns about natural disasters at least somewhat impact their de...

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