Ultra-low mortgage rates returned this week, with lenders offering home buyers and refinancers a chance once again to lock in a rate below 3%. But the National Association of REALTORS® warns that these low rates in the 2% range won’t last much longer, and mortgage rates likely will edge up soon. The 30-year fixed-rate mortgage averaged 2.95% this week, Freddie Mac reports.“Mortgage rates are continuing to offer many homeowners the potential
The lack of inventory continued to chip away at pending home sales last month, but the home-buying craze is still going strong.The National Association of REALTORS®’ Pending Home Sales Index—a forward-looking indicator of home sales based on contract signings—fell 4.4% month-over-month in April. Still, pending home sales are up nearly 52% compared to a year ago. However, NAR notes that the year-over-year comparison is skewed since it’s f
For the fourth consecutive month, lenders were able to speed up times to close, as timelines start to near pre-pandemic processing times.In April, the average days to close fell to 51; it was 52 days in March, according to ICE Mortgage Technology’s latest Origination Insight Report. That still remains higher than a year ago when the average was 42 days.Purchase mortgages showed the most improvement with closing times. The average time it took f
Since the start of the pandemic, homeowners have put more weight on their outdoor spaces. As such, real estate listings may want to highlight what a home has to offer in the backyard, front yard, balcony, deck, or lawn space.Sixty-two percent of consumers said they’ve spent more time outdoors since the pandemic, according to a new survey from Gardens Alive, a garden and lawn supply company. Gardens Alive surveyed more than 900 people nationwide
“Zombies foreclosures” are re-emerging in real estate. About 1.4 million residential properties in the U.S. were vacant in the second quarter—1.4% of all homes—a new report from ATTOM Data Solutions shows. That represents a nearly 28% increase compared to the first quarter, revealing a potential trend of more vacant, distressed properties hitting the market.However, zombie foreclosures are still down 13% compared to a year earlier and the
Neighbors can watch out for one another and alert others to danger, but they can also be watching how you behave.When you notice speeding in the neighborhood, failing to clean up after the pet, or violating noise ordinances, would you rat out your neighbor?SafeHome.org, a resource and research firm on safety and security, surveyed more than 1,000 Americans about their relationships with their neighbors and to find out.Nearly one in five resp
Millennials—people between the ages of 25 and 40—are a force in the overall housing market, but may be even more so among veterans. Millennials accounted for 50% of all Veterans Affairs–backed purchase loans in 2020, according to data from Veterans United.Veterans United data shows these are the top five hot spots where millennial military veterans purchased homes last year:Washington, D.C.Virginia Beach, Va.San DiegoColorado Springs, Colo.
Sales of newly built single-family homes dropped 5.9% in April compared to March, the U.S. Department of Housing and Urban Development and the U.S. Census Bureau reported on Tuesday. Sales are dropping, and builders are blaming affordability as the main culprit for why.New-home sales prices have jumped 20% compared to a year ago.“Affordability factors are clearly affecting new-home sales,” said Chuck Fowke, chairman of the National Associatio
Consumers’ email inboxes are constantly being flooded with messages. How do you make yours stand out? Use effective subject lines that make them take notice.A recent consumer survey from ActivePipe, an email marketing firm, found the following subject lines generate the most opens on emails that are sent from real estate professionals:“Just Sold in Your Area”“Real Estate Market Snapshot for Your Area”“Have You Been Wondering What Your
It’s mosquito season. Some metros may face swarms of these biting insects more than others. Some properties may be unintentionally attracting them, too.Mosquitoes tend to become more active when temperatures rise above 68 degrees overnight. Mosquitoes tend to be most present between dusk and dawn, according to Orkin, a nationwide pest control service firm. “Like many insects, mosquitoes need a food source, favorable temperatures, and a proper
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