Chase Home Lending is promising to get customers to the closing table for a home purchase within 21 days or give the borrower $1,000 in cash.The average time to close on a home loan is 45 days, according to January data from Ellie Mae. But Chase believes it can make it to closing in less than half of that time through its new “Closing Guarantee" program.Chase officials say the program could give customers a competitive advantage when
Mortgage rates inched lower for the third consecutive week. Freddie Mac Chief Economist Sam Khater says the lower rates bode well for the spring home buying season, typically the busiest time of the year for home shopping.“Mortgage rates … [are] continuing the general downward trend that began late last year,” Khater says. “Wages are growing on par with home prices for the first time in years, and with more inventory available,
Designing houses with features buyers want is a continuous process for the home building industry. During a Feb. 19 session at the 2019 International Builders' Show in Las Vegas, builders and designers took a break from their work to talk about some of the changes they're seeing.Curved entryway staircases step back.A curved stairway leading to the upper floor can make for a grand entrance into a home, and certainly serves as a focal poi
Young adults are now taking on more mortgages than any other generation and increasing their purchase power in the housing market. Millennials represent 42 percent of all new-home loans, higher than both the baby boomers and Generation X, according to a new study from realtor.com®.“Millennials are getting older, with better jobs and deeper pockets, allowing them to expand their collective purchase power and hence, their footprint in the market
The winter months have proven to be a sluggish time for home sales. January was the third consecutive month in which existing-home sales posted a drop, the National Association of REALTORS® reported Thursday. All regions of the U.S. saw a drop in sales except for the Northeast.Total existing-home sales, which are completed transactions on single-family homes, townhomes, condos, and co-ops, dropped 1.2 percent in January compared to December
Laundry rooms and Energy Star–compliant windows topped the list of what buyers considered the most “essential” or “desirable” features in a home, according to the National Association of Home Builders’ 2019 “What Home Buyers Really Want” report, released at the NAHB International Builders’ Show in Las Vegas this week. Most of the features that new homeowners or aspiring buyers ranked highest related to helping them save in
Samsung debuted its most extensive new lineup of smartphones, taking on Apple amid a slowing market with new low-end and premium models, 3-D cameras, an in-screen fingerprint scanner and faster 5G connectivity.At simultaneous launch events in San Francisco and London on Wednesday, the South Korean technology giant introduced four new phones: the Galaxy S10, S10+, S10e, and S10 5G. The S10 and S10+ are direct successors to last year's S9 and S9+,
Housing affordability concerns will likely limit single-family-home building from making any significant gains in 2019, said economists at a Tuesday session during the 2019 International Builders’ Show in Las Vegas.“This is a crisis,” Robert Dietz, chief economist at the National Association of Home Builders, told attendees about the rising costs of homeownership that are pricing many buyers out. Home price appreciation has outpaced wage ga
A discerning eye saved a group of Philadelphia real estate investors from a near tragedy when touring a property. One more step down a booby-trapped stairway inside the home could have left a member of their team critically injured.Ekrem Uysaler told the media that he and his investor team were looking at a property on Jan. 2 in South Philadelphia when one member of the team spotted a small trip wire at the first stair of the stairway, which was
Many homeowners show a reluctance toward refinancing, believing that some offers from banks may be “too good to be true.” But their suspicions may be costing them thousands of dollars in savings, according to a new study in the February Issue of The Review of Financial Studies from Columbia Business School researchers.Fifty-one percent of 550,000 borrowers who were sent preapproval applications through the Home Affordable Refinance
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
