17% of buyers who couldn’t qualify for a mortgage should have better luck now that Fannie Mae includes rent history in its lending decisions. Lenders consider a history of on-time rent payments a strong predictor for whether borrowers will make regular mortgage payments.
A possible government shutdown – and potential speedbump for closings – was postponed until at least Dec. 3 after Congress voted to approve a short-term extension.
When calculating affordability, low mortgage rates have offset rising home prices so far, but 75% of U.S. counties are now less affordable than their historical average.
A listing description’s first sentence should answer readers’ top question: “Why should I keep reading?” Most of the time it will note the home’s most desired feature.
Homeowners with a mortgage gained an average $51,500 in home equity in the second quarter – a 29.3% year-to-year increase. It’s the biggest jump since 2Q 2010.
People quit jobs if they grow discontented, and rising rental costs may be causing some discontent: 51.2% of workers say they plan to look for a new job this year.