Reverse mortgages helping seniors bolster retirement income

Reverse mortgages helping seniors bolster retirement income

House-rich and cash-poor is a description that can be used to describe many of California’s senior citizens. With rising home values but little in retirement savings, the market for reverse mortgages continues to thrive. Reverse mortgages allow those 62 or older to tap their home’s equity through a...

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‘Beverly Hillbillies’ estate sells for record-breaking price

‘Beverly Hillbillies’ estate sells for record-breaking price

The sprawling Bel-Air estate featured in the opening credits of the television series The Beverly Hillbillies sold last week for a reported $150 million. The mansion, known as the Chartwell, hit the market in 2017 and had gone through several price cuts since. The latest public asking price was $195...

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Coastal cities cede top housing markets to inland states

Coastal cities cede top housing markets to inland states

It used to be San Diego, San Francisco and Seattle that dominated lists of the hottest housing markets in the country. But new data for 2019 shows that landlocked states are turning the tables on those coastal towns. Realtor.com reports that Boise, Idaho is expected to be the hottest housing market...

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Experts: 1 in 3 chance of 2020 recession

Experts: 1 in 3 chance of 2020 recession

A summit of top economists and real estate experts attended a summit headed by Secretary of Housing and Urban Development Ben Carson and shared their predictions for the 2020 housing market. A consensus of the leading experts in attendance put the likelihood of a recession next year at 29 percent....

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Mortgage applications look to end year on high note

Mortgage applications look to end year on high note

After the typical lull that accompanies the Thanksgiving holiday, mortgage application activity saw a strong comeback last week, rising 3.8 percent on a seasonally adjusted basis. Applications increased for refinances, up 146 percent over the same week last year when rates were nearly a full percent...

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First-time homebuyers making a comeback

First-time homebuyers making a comeback

Those entering the realm of homeownership for the first time dominated the housing market in 2019. According to a report from Genworth Financial, first-time homebuyers accounted for 39 percent of all buyers during the third quarter and made up 55 percent all purchase mortgages. This latest data sh...

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Age of home buying trends higher

Age of home buying trends higher

Although recent data suggests that younger Americans are finally starting to purchase homes, a new report shows that the same buyers are much older than their parents were when they bought their first home. Student loans and unaffordable home prices have kept the Millennial generation on the sideli...

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Nightmare Neighbors

Nightmare Neighbors

In a recent survey conducted by Ally Financial, more than half of Americans say they’ve lived next door to a “nightmare neighbor”. The survey of more than 2,000 consumers found that the most undesirable neighbors are those who are loud, have questionable lifestyles and those who don’t maintain their...

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Higher loan limits coming in 2020

Higher loan limits coming in 2020

The Federal Housing Finance Agency announced this week that mortgage giants Fannie Mae and Freddie Mac will increase their lending limits next year as a result of nationwide home-price gains. Currently, the maximum conforming loan limit for single-unit properties is $484,350. This will increase to $...

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Mortgage rates near historic lows

Mortgage rates near historic lows

Over the last year, mortgage interest rates have fallen more than a full percentage point. This is a retreat from the seven-year high reached in November 2018. The result of such a steep decline in rates has been the tremendous savings experienced by both current homeowners and buyers. Today, conf...

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