Nearly 4.5 million borrowers are eligible to refinance and could lock in savings on their monthly mortgage payments but have not taken advantage, according to a new report from Black Knight Financial Services.The average borrower stands to save $260 a month. Nearly 700,000 borrowers could save $400 or more per month, the report shows.“The recent pause in the upward movement of interest rates continues to encourage late-to-the-game borrowers to
A surge of renters are ready to make the leap into homeownership. According to a new TransUnion analysis on the U.S. rental market, 55 percent of those who actively shopped for a mortgage in the first quarter of 2017 were non-homeowners and primarily renters. This is up from 50 percent in the first quarter of 2016 and 45 percent in the first quarter of 2015.“The rental market has seen sustained growth for the last several years, but occupancy r
YouTube released a new virtual reality video format called VR180 that could pave the way for the future of viewing property listings. The VR format uses 180-degree video but in stereoscopic 3-D—the picture appears wider than normal while providing more depth and height. If a client using this VR format turns around, however, they’ll just see black instead of the continuous imagery found in 360-degree virtual reality.“There’s no ne
Energy-efficient homes built too tightly have building experts warning about the potential health impact on owners. A home sealed efficiently can be great for reducing heating and cooling costs and managing its environmental impact. But the home itself still needs to breathe, some experts warn.“Many homeowners are now having trouble with their more tightly built houses because the homes lack the ventilation necessary to get the stale insi
Seventy-one percent of homeowners say now is a good time to sell, according to the National Association of REALTORS®’s second-quarter Housing Opportunities and Market Experience (HOME) survey. The percentage is up considerably from the 61 percent of homeowners who said it was a good time to sell last year.Owners in the Midwest are the most excited about potentially selling at 76 percent, surpassing the West at 72 percent for the first time th
The famous abode will soon be home to the highest bidderKey Takeaways The Underwood's home in "House of Cards" is up for auction with a starting bid of $500,000.When we’re first introduced to Kevin Spacey’s Frank Underwood in House of Cards, we’re led into an unforgettably gorgeous, dimly-lit home — the beautiful backdrop for many of the plans and schemes that finally got him to The White House. Now, after watching for five seasons, buyer
As the weather heats up, homeowners may be looking to make the most of their outdoor space. But some cities may have a distinct advantage when it comes to hosting backyard parties. Realtor.com®’s research team analyzed 350 metro areas based on lot sizes, cool outdoor home features (e.g. hot tubs, outdoor kitchens, decks, etc.), and the number of sunny days the area sees annually.“We are seeing more people than ever really investing in the ba
Nearly 80 percent of all borrowers are paying for real estate taxes and home insurance through escrow accounts, according to a recent analysis by CoreLogic. That is up 900 basis points over the past six years.The mortgage industry has been encouraging more borrowers to use escrow accounts because it ensures they have reserves to cover the costs of the mortgage principal, interest, taxes, and insurance. It also helps to lower the risks of tax and
Home improvement projects present the biggest opportunity for scammers to take advantage of homeowners, according to the Better Business Bureau’s Risk Index. Victims of home improvement scams lost an average of $1,400 from shady contractors, painters, and other repairmen, according to the BBB’s analysis.The analysis found that such scams pose the highest risk to homeowners based on three criteria: exposure (how likely consumers are to be expo
The median gross income for a real estate professional in 2016 was $42,500, most of which came from selling homes, according to the National Association of REALTORS®’ 2017 Member Profile. Annual income varied widely based on experience, with practitioners who had been in the real estate business less than two years earning $8,930, while those with 16 or more years of experience earned $78, 850.But what types of activities draw the most busines
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