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Despite their reputation as a generation of renters, the truth of the matter is that many Millennials are buying homes. And they’re not just buying, they’re buying smarter than a lot of people did in the past. To be sure, they seem to be taking longer than previous generations to buy their first home, but…

For professionals in the housing industry, from real-estate agents to loan officers, and everywhere in between, the more successful you become, the harder it can be to find time to take a vacation. But, you still really should. In April’s issue of Realtor Mag, Michelle Hoffman wrote a great article on how to plan (and…

For professionals in the housing industry, from real-estate agents to loan officers, and everywhere in between, the more successful you become, the harder it can be to find time to take a vacation. But, you still really should. In April’s issue of Realtor Mag, Michelle Hoffman wrote a great article on how to plan (and…

CNBC reported yesterday that mortgage application rates are basically unchanged at an increase of 0.1%, citing the Mortgage Bankers Association. However, hidden in that no-news number was a little bit of actual news, refinances were up substantially, with a week-over-week increase of 3%, contrasted with a 4% decline in purchase applications. Apparently the word on…

A strong Employment Report, a real increase in hourly wages, and a low unemployment rate often collude to drive interest rates in a direction unfriendly to homebuyers or those with ARMs. The  jobs report can have an immediate impact on your monthly mortgage payment. Financial markets prognosticators argue that economic forecasts are already “priced-in” to…

OK, maybe not all of them, because it does really seem that there’s a new entrant every day. Nevertheless, MarketWatch, with the help of Zillow, has put together a photo gallery and summary of at least 15 of them. Highlights include the Clinton’s four-bedroom, six-bathroom house in D.C., estimated at a current market value of…

Higher home prices are making house flipping harder and riskier but more lucrative. Flipping, which is generally defined as buying and selling a home in the same calendar year, is actually down slightly this year, but year-over-year, it’s been fifty percent more profitable. Home flips made up just 4.5% of sales in the second quarter…

The Mortgage Credit Availability Index (MCAI) tracks whether lending standards are tightening or loosening, and is benchmarked against 100 for March, 2012. For July, it hit 125.5, up 2.9% from May, and continuing an almost uniformly upward trend since that original benchmark to hit a new high. The MCAI is a composite of four sub-indeces:…

Over the past few months, this blog has reported a few times on the Consumer Financial Protection Bureau’s (CFPB) eClosing project. Yesterday, they released their first report on the project, and have concluded that electronic mortgage closings can benefit consumers. Specifically, they lead to better consumer understanding, a more efficient process, and a greater feeling…

New statistics were out a few days ago, and have since been all over the news: U.S. homeownership is at a 48 year low. As of Q2 this year, it’s the lowest it’s been since 1967, and is approaching historic lows. The Knowledge@Wharton radio show recently featured Wharton adjunct real estate professor Sam Chandan discussing…