Mortgage Rates Hit Lowest Mark of 2017
MCLEAN, VA–(Marketwired – Apr 13, 2017) – Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year mortgage rate dropping for the fourth consecutive week and hitting a new low for 2017.
5 Major Mistakes That Retirees Make With Real Estate
By Julie Ryan Evans
You’ve worked hard year after grueling year and, finally, retirement is on the horizon. There’s nothing ahead for you but lazy days of relaxation and idle time to pursue those back-burner hobbies. Hey, you’ve earned it!
Affordability, Tight Supply Cause Vacation Home Sales to Plummet in 2016; Investment Sales Climb 4.5%
WASHINGTON (April 11, 2017) – Last year’s strongest pace of home sales in a decade included a sizeable drop in activity from vacation buyers and a jump from individual investors, according to an annual second-home survey released today by the National Association of Realtors®. The survey additionally found that vacation and investment buyers in 2016 were more likely to take out a mortgage and use their property as a short-term rental.
Popular deductions for homeownership are targeted in tax plans
By Kenneth R. Harney
With the health-care bill back-burnered on Capitol Hill, the focus has shifted to tax reform. Among the key financial matters in play: Homeowners’ prized deductions for mortgage interest and property taxes.
Although no major version of an overhaul bill would eliminate the mortgage interest deduction, a plan known as the House Republicans’ “blueprint” would essentially sidestep it by doubling the current standard deduction from $12,600 to $24,000 for joint filers ($12,000 for single filers).
The First Offer May Be The Best Offer
By Bob Hunt
Monday, 3 April
Versions of this column have appeared before. It is still true. And for many, still relevant.
Sometimes when everything goes right we have trouble accepting that fact. Perhaps nowhere is this phenomenon more clearly illustrated than in the case where a seller receives a good offer right away.
Mortgage Rates See Another Significant Decline
MCLEAN, VA–(Marketwired – Mar 30, 2017) – The 10-year Treasury yield remained relatively flat this week. The 30-year mortgage rate fell 9 basis points to 4.14 percent, another significant week-over-week decline. Despite recent mortgage rate fluctuation, new home sales far exceeded expectations in February and jumped 6.1 percent to an annualized rate of 592,000.
30-year fixed-rate mortgage (FRM) averaged 4.14 percent with an average 0.5 point for the week ending March 30, 2017, down from last week when it averaged 4.23 percent. A year ago at this time, the 30-year FRM averaged 3.71 percent.
Should real estate be part of my retirement plan?
By Katie Lobosco
Jake Walker in Michigan asks:
I am 25 and wonder how I’ll retire since I won’t have a pension like my parents. Last year, I bought a rental property and my return was much higher than what I saw on my 401(k) and Roth IRA. I look at this as a way to diversify my portfolio and also generate cash flow in retirement. Basically, my version of a pension. Is this a good approach to have?
Appraisals Can Be Challenged
By Bob Hunt
Question: We are refinancing our home to replace an adjustable rate mortgage with a good fixed rate loan. Unfortunately, the appraisal came in low and when I received the copy from the mortgage company I noticed many errors, some of which are significant.
Southern California home prices jump again as short supply fuels bidding wars
By Andrew Khouri
Southern California home prices jumped in February, posting the largest increase in more than a year, as buyers rushed to outbid one another for a meager selection of homes for sale.