By CHUCK GREEN As Baby Boomers age, they are making tough decisions about their living arrangements. Familiar with every creak in their home’s floorboards and often a friendly face for neighbors, they are coming to grips with the fact that moving on from the place where they raised their kids might be the right thing…
Average homebuyer credit scores soared to their highest point since 2018 in March, according to Optimal Blue’s March 2024 Originations Market Report. The average score hit 737, an all-time high in Optimal Blue’s data, which dates back to January 2018. Scores for FHA borrowers also hit 6-year highs, clocking in at 677 in February and…
By ERIN FLYNN JAY Homeownership rates for Black Americans are lagging and leaders in some cities are taking action to turn that around. According to a report released by the National Association of Realtors last month, minority groups saw increased homeownership rates in 2022. While Asian and Hispanic homeownership rates registered all-time highs at 63.3%…
By ERIN FLYNN JAY Gross profits and profit margins remained near record levels for sellers last year but they decreased for the first time since 2011 in what could be seen as a sign of a cooling housing market. ATTOM released its Year-End 2023 U.S. Home Sales Report on Jan. 24, which shows that home sellers…
By ERIN FLYNN JAY As 2023 comes to a close, industry leaders say there were some highs, but leaving this year behind won’t be a problem for many mortgage professionals. ATTOM CEO Rob Barber said in the spring, as the peak homebuying season heated up, lenders nationwide enjoyed their first quarterly increase in mortgage activity…
U.S. mortgage rates took their biggest one-week drop in more than a year last week. The Mortgage Bankers Association reported the contract rate on a 30-year fixed mortgage fell 25 basis points to 7.61%. That’s the lowest level since the end of September. Market watchers point to the Federal Reserve’s decision last week to hold…
By CHUCK GREEN The housing market has been slowing down due to interest rate hikes, but that likely won’t stop officials from pushing further in their fight against inflation. And average American homebuyers and sellers will be affected by their decisions as affordability continues to be a concern nationwide. Last week, the Federal Reserve Board…
By ERIN FLYNN JAY Return to the office mandates and the continued desire for a better quality of life are affecting Americans as they decide where to move in 2023. Companies that allowed employees to work remotely during and immediately after the Covid pandemic are reversing course this year. On Sept. 5, Meta’s requirement that…
By ERIN FLYNN JAY Inflation has affected the housing market as higher costs of living puts more stress on the average person’s finances. The average American household spent $709 more in July than they did two years ago to buy the same goods and services, according to Moody’s Analytics. “High inflation of the past 2+…
By CHUCK GREEN Mortgage rates are hovering around 7% as the summer winds down and with potential homebuyers facing high monthly payments for the few properties for sale, people are wondering when the Federal Reserve will loosen its grip on monetary policy so the housing market can free up again. Last month, Chairman Jerome Powell…
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