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Mortgage rates fell this week after last week’s increase, according to Freddie Mac’s Primary Mortgage Market Survey. The 30-year, fixed-rate mortgage fell 0.5% averaging 4.32% nationally this week. While the 15-year, fixed-rate mortgage also declined 0.6%, averaging 3.32% nationally. Both the 30-year and 15-year, FRM are still up from this time last year. Additionally, the…

New data released by TransUnion states that, as hiring increases and the housing market continues to improve, more consumers are making mortgage payments a priority once again. An increasing number of homeowners are beginning to pay off their mortgages instead of making large payments on credit cards, showing evidence that more consumers are out of…

The number of Americans who want to buy a home this year is growing, but following through with the act may be a difficult task. Zillow’s chief economist Stan Humphries said, “the dream of homeownership remains very much alive and well, but these aspirations must also contend with the current reality, and in many areas,…

According to the National Association of Home Builders, home builder sentiment in the United States increased this month. The NAHB/Wells Fargo Housing Market index jumped one point from last month averaging 47, still lower than many economists had predicted for March. February was the first month the housing market index fell below 50, and many…

According to reverse mortgage rules, when the owner of a home enrolled in a reverse mortgage moves out of the current home or passes away, the loan payoff is due shortly after, leaving many heirs in a complicated financial situation. Experts are encouraging people to let their heirs know about their reverse mortgage to help…

Home prices have jumped, and in turn, an increasing number of houses have been put on the market, increasing supply in many U.S. cities. The median home price averaged $199,000, up 7.6% from this time last year. Home sellers and economists are hoping for a large spring buying season that will help the housing produce…

Research shows that millennials have now reached an age where homeownership activity typically increases, and the increased activity is expected to strengthen the housing market. According to the National Association of Realtors annual survey of recent homebuyers, millennials make up 78% of all first-time homebuyers. Lawrence Yun, the NAR’s chief economist said, “given that millennials…

According to the most recent report from the Mortgage Bankers Association, mortgage credit continues to improve. The mortgage credit availability index increased 0.44%, averaging 113.5 last month. Experts say that if the MCAI was tracked in 2007, the index would be approximately 800. Mortgage Bankers Association’s chief economist, Mike Fratantoni said, “for the third month…

Home sales in the U.S. continue to increase as foreclosure rates fall according to the Obama Administration’s February scorecard. Although the housing market is making impressive strides, many officials remain cautious, suggesting that the market is still in a state of recovery. The Federal Reserve Board stated that homeowner’s equity increased more than $400 billion…

Recent reports have shown that the economy is gaining more strength and continuing to show improvement. The Federal Reserve suggested that lower borrowing costs may be the reason behind an increasing number of consumers borrowing money for home and vehicle purchases. According to recent data, home sales have significantly improved, and auto sales have almost…