Neat Loans announced that clients who get a COVID-19 vaccine will receive a $500 discount on home financing through the company. The discount applies to $500 on closing costs for residential purchases or when refinancing a mortgage loan.More companies are requiring their employees to get vaccinated prior to returning to the office. But now some firms are extending that to clients with enticing offers to motivate more people to get vaccinated agai
Skyrocketing home prices over the last year may soon hit current homeowners in the form of property taxes. Housing experts are predicting property taxes to climb higher in 2021 than the 4% uptick in 2020.Many city governments lost revenue during the COVID-19 pandemic and, as reassessments kick in, homeowners may be faced with a soaring bill. Property taxes are expected to increase by about 6.5% in 2021, according to realAppeal, a company tha
As the housing market booms, lenders have faced a significant uptick in mortgage demand. Low-interest rates are fueling a frenzy. Mortgage applications for home purchases jumped 22% in the second quarter compared to the first quarter and are up 52% compared to a year ago, according to ATTOM Data Solutions’ Q2 2021 U.S. Residential Property Mortgage Origination Report.The largest quarterly increases in residential purchase mortgage originations
Home buyers should expect to bid way over the asking price in Austin, Texas. The city has homes fetching the highest amounts over asking price in the country—$100,000 or more.Nearly 2,700 homes in Austin have sold this year for $100,000 or more above the initial listing price, according to an analysis from Redfin, which examined sales records through Aug. 11. Researchers note that some U.S. cities have seen more properties sell at a premium, bu
The 30-year fixed-rate mortgage held near last week’s average and continues to average near historical lows and under 3%.“Mortgage rates stayed relatively flat this week,” says Sam Khater, Freddie Mac’s chief economist. “Housing is in a similar phase of the economic cycle as many other consumer goods. While there is strong latent demand, low supply has caused prices to rise as shortages restrict the amount of sales activity that otherwi
United Wholesale Mortgage, the second largest mortgage lender in the U.S., announced it will accept cryptocurrency for home loans by the end of this year. UWM wants to be the first lender to do so in the national mortgage industry.“We’ve evaluated the feasibility, and we’re looking forward to being the first mortgage company in America to accept cryptocurrency to satisfy mortgage payments,” CEO Mat Ishbia said during UWM’s second quarte
The Federal Housing Finance Agency proposed a set of new housing goals that target assisting low- and moderate-income families, minority communities, rural areas, and other underserved populations achieve homeownership. FHFA outlined the goals for the mortgage financing giants it regulates—Fannie Mae and Freddie Mac—for 2022 to 2024.Its new minority census tract is aimed at improving access to fair and sustainable mortgage financing in commun
Sparked by the pandemic, the surge in activity in the single-family rental market doesn’t appear to be letting up. Rents for single-family homes jumped 7.5% in June year over year, the highest recorded for at least the past 16 years, according to CoreLogic, a real estate data firm.The desire for more space has led to an increase in demand for single-family rentals. Rising home prices are pricing out some potential buyers and prompting them to r
Home prices have risen quickly amid the pandemic. The median sales price of single-family existing homes increased in 99% of the 183 metro areas tracked in the second quarter compared to a year ago. Ninety-four percent of the markets posted double-digit price increases, according to a new report from the National Association of REALTORS®.Inventory shortages and a large influx of buyers, particularly as mortgage rates remained historically l
Opportunity zones are keeping pace with national home price trends and proved to be a solid investment in the second quarter. Median single-family home prices rose annually in 75% of opportunity zones in the second quarter. In about half of them, home prices increased by at least 15%, according to a new report from ATTOM Data Solutions, a real estate research firm.Opportunity zones offer tax breaks for long-term investment in federally designated
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