Borrowers found it easier to access credit in June, but it was jumbo mortgage credit that saw some of the highest growth. According to a new report from the Mortgage Bankers Association, jumbo loans—mortgages with higher debt—are on the rise and were easier to get in June than any other month in the past eight years.Jumbo mortgage credit rose for the sixth straight month, rising to its highest level since 2011, when the MBA’s survey began.A
About 1.4 million burglaries occurred in 2017, and more than two in three break-ins were of residential properties, according to FBI data.Cove, a home security firm, surveyed nearly 1,000 people who have experienced a break-in at least once to learn more about how burglars entered the home and what they wished they had done in hindsight to better protect their property.Home invasions aren’t always random. Studies show that many break-ins are co
For most Americans, a home purchase is the biggest purchase of their life and thus requires taking on a large amount of debt. The average mortgage debt can vary considerably from state to state.“Cost of living and home prices are a big factor,” says Greg McBride, chief financial analyst at Bankrate. “The cost of living impacts how much you can save for something like a down payment, and home prices impact how much you have to borrow.”Weal
In just a few months, home shoppers may begin to see a drop in the number of homes for sale, which could lead to the return of bidding wars and quicker home sales, a new report from realtor.com® predicts.Realtor.com® researchers predict a major shift to occur in the housing market that will affect buyers’ bargaining power well into 2020. With high demand for the limited number of homes for sale, buyers may need to be braced to pay higher home
Facebook has been facing federal agencies that claim it has allowed real estate companies to discriminate against users when displaying ads, but now New York is launching its own investigation into these accusations.New York Gov. Andrew Cuomo says he’s ordered the New York Department of Financial Services to investigate whether Facebook permitted state-regulated advertisers serving housing ads on its site to discriminate against prospective res
Most Americans believe they’ll need an average of $1.7 million to retire, according to a new study from Charles Schwab. Researchers analyzed 1,000 401(k) plan participants across the country.“The bulk of folks do not get there,” Nathan Voris, a managing director at Schwab Retirement Plan Services, told CNBC.More than half of respondents surveyed say they are contributing 10% or less of their salary to their 401(k), which is the largest sour
What are people searching for on the internet when it comes to home design? Google released a new report that breaks down the most popular searches by several design categories for the home. Coastal-inspired living rooms, ranch style homes, and blue hues appear among some of the most curious trends in Google searches. Google’s Home and Garden Trends report compiled the biggest search trends over the past year. Here’s what the report found:Mos
City ordinances and homeowners associations present many guidelines you must follow. Homeowners can face fines for violating rules and laws, such as not obtaining the proper permit for a remodeling project or not performing regular upkeep on a property. MSN recently highlighted several surprising things that homeowners also can get in trouble for, including:Obstructed address number. You should make sure their landscaping isn’t hiding the addre
Short-term rental properties are popping up in more neighborhoods across the country as homeowners look to cash in on an extra income stream. But is an Airbnb, Vrbo, HomeAway, or other short-term rental good for a thriving neighborhood?The STR industry has posted significant growth over the last five years. Airbnb, as of October 2018, reported more than 5 million hosts and $2.7 billion in profit. But property owners recently surveyed by Porch.com
Mortgage products that haven’t been widely used since before the Great Recession are making a comeback. The volume of loans with alternate documentation has more than doubled in the last two years among loans included in mortgage-backed securities, according to a report from Fitch Ratings.The alt-doc loans have performed well since the housing crisis, but Fitch analysts say they’re still concerned about the uptick. “Although alternative doc
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