A Vacation Home for Escape? Online Searches Hit 5-Year High
Cabin fever has led more Americans to look for … well, a cabin. An online listing site says interest doubled since 2019, and Google searches are up as much as 235%.
Cabin fever has led more Americans to look for … well, a cabin. An online listing site says interest doubled since 2019, and Google searches are up as much as 235%.
Buyers saving money each month for a down payment may find the goalposts have moved. If home prices rise 5%, the amount of money they need to put down does too.
The Federal Reserve didn’t change rates this week, but it pledged to use its “full range of tools” to support the U.S. economy as the pandemic continues to grow.
Homeowners who spent a lifetime working, raising families and paying mortgages have a greater net worth later in life. Among U.S. families who own rather than rent, a primary residence accounts for 90% of total wealth – and 99% for the bottom 20% of low-income owners.
Floridians passed Realtor-supported Amendment 5, giving sellers up to three years – an increase from two – to transfer (port) accrued property tax benefits to a new home.
Since the pandemic, buyers focus now on more space and outdoor features. Square footage, living space, floor design and outdoor spaces, like pools, are top priorities.
The situation isn’t clear: Roads damaged by a disaster mean a tenant is blocked from her apartment and must temporarily rent elsewhere. What does the lease allow?
In an effort to ease the damage caused by limited lending over the years, lenders’ programs can include thousands of dollars in closing-cost credits, down payment assistance, low-interest loans and/or more affordable housing opportunities for underserved communities.
The builders group says record-low mortgage rates are no longer enough to offset rising home prices as buyers fight over a dwindling supply of for-sale inventory.
It’s a new all-time record low for the 30-year FRM – the 12th time this year. Meanwhile, the average rate on a 15-year mortgage remained at 2.32% this week.