Unless you’re a cash buyer, credit scores are the most important factor lenders consider in a mortgage application. It shows the ability to repay, NEW YORK – Strictly speaking, you don’t need a credit score to buy a house. If you’re paying cash, for example, no one necessarily cares whether you have good credit. However, … Read more
Even though millionaires have more options than average American buyers, many see renting as a better investment for now. NEW YORK – Across the United States, the number of millionaire renters is increasing because, they say, the high-quality, reasonably priced homes are hard to find. According to census data analyzed by The Wall Street … Read more
Only 19% of baby boomers think they could have afforded a home in a market like today’s, yet 71% believe younger generations could if they didn’t spend frivolously. ST. LOUIS – Just 15% of current baby boomer homeowners expect to sell their homes in the next five years, while more than half (54%) never plan … Read more
Consumers expect rates and home prices to decline in the coming year but they remain cautious about the market and affordability. WASHINGTON – Consumers reported significantly greater optimism about the future direction of mortgage rates despite showing little change in overall homebuying sentiment, according to Fannie Mae Home’s Purchase Sentiment Index, which increased 0.6 points … Read more
Americans are increasingly becoming more comfortable with living in homes under 500 square feet, with affordability being a key factor. NEW YORK – As housing prices continue to rise, many people in the United States are veering toward a new-ish style of living space: the tiny house. According to a report by Investment Property Exchange … Read more
NEW YORK – You’re witnessing social media influencers reshape consumer behavior through trust and authenticity. Influencer marketing’s effectiveness is evident as 90% of marketers find it impactful, contributing to projected industry growth to $16.4 billion in 2023. Remarkably, 70% of teens trust influencers over traditional celebrities, indicating a shift in loyalty dynamics. Authentic recommendations resonate, … Read more
The newest sales tax holiday starts tomorrow (Saturday) and runs through Sept. 6 for storm-related items, including batteries and generators. TALLAHASSEE, Fla. – A sales-tax “holiday” will start Saturday that can help Floridians prepare for storms as the state moves into the peak of hurricane season, while another set of tax breaks is on the … Read more
Buyers in Florida’s bigger metros gained an upper hand in July 2024, Zillow said. Nationwide, homes have been lingering on the market longer compared to last year. SEATTLE – Competition for homes and price appreciation tapered off faster than normal in July as high housing costs continued to stymie shoppers, according to the Zillow market … Read more
Buyers may hear they need a 20% down payment to buy a home, but that’s not set in stone. Many mortgages require as little as 3% or 3.5% and some have no minimums. SOUIX CITY, Iowa – You might have heard you’ll need a 20% down payment to buy a home. While there’s a reason … Read more
As mortgage rates retreat from 23-year highs, home loan applications rose 16% last week, the highest level in two years. Refinancings were up 60% vs. a year ago. LOS ANGELES (AP) – A recent pullback in mortgage rates is spurring more homeowners to refinance their home loan and lower their monthly payments. The Mortgage Bankers … Read more
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