A temporary buy-down provided by the seller allows the borrower to have more money available during the early years to handle furnishing and renovation costs. Higher mortgage rates — up nearly double over a year ago — cut into affordability and increase monthly payments for buyers. Rising rates are particularly challenging for buyers who may … Read more
In the year ahead, the housing market may be slow to start, with home prices, rents, inventory and interest rates not moving much at all, according to economists, analysts and real estate brokers. At the beginning of the pandemic, office workers were liberated from their commutes but found themselves stuck at home and hungering for … Read more
After hitting 2022 highs last week, a weak hiring report released Tuesday by the Bureau of Labor Statistics has been helping to bring mortgage rates back down Requests for home loans fell to the lowest level of the century last week as mortgage rates climbed to their highest level since 2006 and Hurricane Ian crushed … Read more
The impending quick reversal is mostly due to the recent surge in mortgage rates Housing prices are poised to correct. But even as they drift downward, they are highly unlikely to plummet. House prices have been on a tear the past decade. Since hitting bottom in the wake of the financial crisis and the housing … Read more
The impending quick reversal is mostly due to the recent surge in mortgage rates. Housing prices are poised to correct. But even as they drift downward, they are highly unlikely to plummet. House prices have been on a tear the past decade. Since hitting bottom in the wake of the financial crisis and the housing … Read more
Higher interest rates have changed the math on what was recently a straightforward decision, advisers say Quit your mortgage before you quit working. So goes the standard advice for those nearing retirement, but that might not be feasible for retirees who bought or refinanced homes later in life. Those who can afford to pay off … Read more
Get a detailed job description. If you’re hiring an architect or designer to monitor all or part of the project, that relationship should be described. Whether you have a crummy 1970s kitchen, a broken-down 1920s bathroom, want to add a room onto your cramped Craftsman bungalow or are thinking about tearing apart the entire joint … Read more
How each generation thinks about building credit and wealth varies, particularly with respect to homeownership. Homeownership is a lifelong journey that looks different for everyone, especially depending on your stage of life and financial goals. How each generation thinks about building credit and wealth varies, particularly with respect to homeownership. Retirement, student loan debt and … Read more
Understanding The Foreign Withholding Rules… Purchasers of real estate from foreign sellers, and escrow agents and closing agents who close those transactions, need to be aware of the federal withholding requirements set out in the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA). Under FIRPTA, the buyer of U.S. real estate from a … Read more
Sales declines, price drops and the return of buyer incentives: Oh my! It’s getting hairy out there for homebuilders as construction leaders report that buyers are losing interest in pricy new properties now that mortgage rates have climbed, according to a new survey. Builders in recent weeks have reported a significant drop in interest from … Read more
