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Borrowers were faced with rising mortgage rates again this week, after a slight pause from increases the week before.“Despite volatility in the stock market, the 30-year fixed-rate mortgage inched forward just 1 basis point to 4.86 percent this week,” says Sam Khater, Freddie Mac’s chief economist. “We expect rates to continue to rise, which will put downward pressure on homebuying activity. While higher borrowing costs will keep some peo
Financial experts are growing concerned by how millennials’ lack of homeownership will impact them financially when they retire."Homeownership is one of the touchstones of being prepared for retirement," Tamera Sims, a research scientist at the Stanford Center on Longevity, told CNBC. "Buying a home at age 50 or 60 isn't going to do you much good in funding a 30-year retirement."But young adults are “not able to hit the [housing] market at t
Home prices are showing some signs of cooling, but in a handful of markets, some homeowners likely won’t notice much. That’s because homeowners who have owned their home since before the recession have seen their home prices jump by 50 percent—even up to 80 percent.Median home prices are above pre-recession levels in 69 percent—or 103--of the 150 metro areas tracked, according to a new report from ATTOM Data Solutions. Median home prices
As the temperatures cool, homeowners have a lot of chores to do with their lawn to make sure it weathers well into the spring.Perfect timing is essential for fall yard care, says Missy Henriksen, vice president of public affairs for the National Association of Landscape Professionals. “For example, for many parts of the country, this fall has been warmer and wetter than usual, which has required that lawns are mowed later into the season, and m
Pending home sales increased slightly in September, with significant gains in the West and Midwest offsetting more modest growth in other regions, the National Association of REALTORS® reports. NAR’s Pending Home Sales Index, a forward-looking measure based on contract signings, shows signings inched up 0.5 percent nationwide to a reading of 104.6 in September. But on a year-over-year basis, contract signings have dropped 1 percent—marking t
Sales of newly built homes dropped for the fourth consecutive month, while new construction inventory reached the highest level in years, the U.S. Commerce Department reported Wednesday. Sales of new single-family homes dropped 5.5 percent last month, the slowest pace since December 2016.“New-home sales activity has slowed this summer as housing affordability remains a serious issue,” says Randy Noel, chairman of the National Association of H
The living room tends to be a major area for social activity in the home, and how you arrange the furniture can either encourage or hamper that.“Every piece of furniture you own might not have a perfect spot in your house, but it does have a best spot,” Myquillyn Smith, author of The Nesting Place: It Doesn’t Have to Be Perfect to Be Beautiful, told realtor.com®. Smith sees several common furniture placement mistakes that homeowners mak
The surge in off-market “pocket listings”—those held off the MLS in favor of secret channels and networks between agents or within a brokerage—is a growing issue in the real estate industry. In markets starved for inventory, real estate professionals are struggling with being kept out of these secret dealings for homes that their buyers could potentially want.In markets such as Los Angeles, for example, reports say that up to 30 percent
The technology to power driverless vehicles is already here, and greater tests of autonomous vehicles are already hitting the roadways. And as autonomous vehicles are spread around and the popularity of car-share programs rise, housing analysts are already calling on the death of the garage in residential homes.Babcock Ranch, located north of Fort Myers, Fla., is a sustainable, tech-enabled master-planned community development that is already sh
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