The share of people ages 18 to 39 transferring funds to investment accounts every month has more than tripled over a decade. Young people are increasingly investing in the stock market as homeownership becomes less accessible. The stock market’s record performance and easier access to trading technology are fueling the upswing among young investors. A … Read more
A little-known feature called a ‘mortgage recast’ can help you pay off a home loan. Throughout my childhood, I gleaned many financial lessons from my parents. One of the most important came from there obsessive desire to get rid of her monthly mortgage payment. They hated debt, which she described as a form of bondage. … Read more
Assumable mortgages — or low-rate mortgages that home buyers can take over from home sellers — are making a comeback. The process can be challenging. Home prices were already high when Sheranna Rao, a software architect living in N.C., started searching for a house. But she couldn’t have anticipated the quick surge in interest rates … Read more
The V.A. loan prohibits borrowers from paying commissions to real estate agents — a rule that could put veterans at a great disadvantage when buying a house. A settlement from the National Association of Realtors will force down agent commissions and could lower home prices across the board. But it could also spell trouble for … Read more
The age-old “House Hunters” joke is a simple one: A husband and wife each have a ludicrous career and an equally ludicrous budget to buy their dream home. For example: One spouse tunes harmonicas part time, the other trains hamsters — but, somehow, their home-buying budget is $1.2 million. Fans of the HGTV show have … Read more
Small down payments can be a boon for some, but others worry about a possible wave of defaults. “The mortgage industry is getting crushed,” said a real-estate broker. “You’ve got to find a way to produce mortgages.” Homebuyers beware! With mortgage rates at multi-decade highs, business has dried up for mortgage lenders. Few home buyers … Read more
A little-known feature called a ‘mortgage recast’ can help you pay off a home loan. Throughout my childhood, I gleaned many financial lessons from my father. One of the most important came from his obsessive desire to get rid of her monthly mortgage payment. Dad hated debt, which he described as a form of bondage. … Read more
Savvy investors recognize that when your vacation home is empty, it’s just draining your bank account. Here’s how to turn it into a lucrative short-term rental You may have purchased your second home as a central hub for far-flung family members or as a crash pad for your favorite getaway spot. But savvy investors recognize … Read more
The Federal Housing Finance Agency says risk-based fee increases are aimed at ensuring the mortgage giants’ safety and soundness, not to subsidize fee waivers for buyers of limited means Fannie and Freddie’s fees arecgoing up despite lender objections. The head of Fannie Mae and Freddie Mac’s federal regulator says the agency will push forward in … Read more
With interest rates high, a home equity loan or HELOC may be your best choice for cash right now. In its December meeting, the Federal Reserve announced its third and final rate cut of 2024. Policymakers lowered the federal funds rate by 25 basis points to a range of 4.25% to 4.50%. While the reduction … Read more
