Millennials wanted in the housing industry

Millennials wanted in the housing industry


Housing market experts predict a rising number of millennials will buy homes in the coming years as their careers stabilize and more of them begin to marry and start a family.
Yet, according to the National Association of Realtors, the median age of its members is 57. The average age of a loan officer is 54, according to Mortgage Professional America, a news outlet that covers the mortgage and finance industry.


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Mortgage Rates Fall Further, Hitting 3.50%

Mortgage Rates Fall Further, Hitting 3.50%

Mortgage rates for 30-year fixed loans fell this week, with the rate borrowers were quoted on Zillow at 3.50 percent Tuesday, down 11 basis points from last week.

The 30-year fixed mortgage rate fell throughout the week, reaching 3.47 percent on Sunday before rising slightly.

"Mortgage rates fell last week, touching their lowest levels since mid-2013 before edging slightly higher on Monday," said Erin Lantz, vice president of mortgages at Zillow. "This week, markets will look toward Friday's monthly jobs report and should move upward if the data exceeds expectations."

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3 reasons not to pay off your mortgage

Nobody wants to pay a mortgage any longer than necessary. It's a bit unsettling to have an enormous debt looming over you for years on end, racking up interest. You may even be tempted to pay off your mortgage early if you're fortunate enough to have the cash lying around.
However, paying off a mortgage early isn't always the smartest decision, and there's a reason mortgages are referred to as "good debt." So if you're thinking of paying off your mortgage early, here are three reasons to reconsider.


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How Much Can You Afford to Pay For a House?

Many wannabe house purchasers wonder whether or not they can afford the price quoted on the house they would like to buy. Or if they have not started their house shopping, they may be wondering what price range they should be exploring.

If you intend to buy with all cash, you can pretty much answer the affordability question on your own. But if you will need a mortgage, as most home buyers do, the decision is no longer yours alone. A lender is also involved, and behind the lender are multiple government agencies that set rules that the lenders are obliged to follow. These rules define the minimum documentable income and cash borrowers must have, and the maximum debt payments they are allowed to have. In addition, when the purchaser's down payment is less than 20% of the price, mortgage insurance is required at premiums set by private insurers or by FHA.


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Mortgage Lenders Get a Year-end Surprise After Complaints About...

Three months after new mortgage disclosure rules took effect, federal regulators and U.S. lenders are smoothing out some wrinkles that remain in the procedures designed to protect homebuyers.
The “Know Before You Owe” rules, which took effect Oct. 3, were written by the U.S. Consumer Financial Protection Bureau (CFPB) and require lenders to accurately disclose all details and fees at least three days before a closing. But lenders complained that the rules caused numerous delays in the mortgage process due to concerns over minor clerical errors in the Closing Disclosures form.


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Fannie and Freddie Forever

Fannie and Freddie Forever


Washington is a place where bad ideas go to live forever. How else to explain the latest innovation from federal regulators to keep Fannie Mae and Freddie Mac dominating the market for mortgage finance?   ... http://flip.it/0_cRR

The healthiest housing markets in the U.S.

These are the three healthiest housing markets in the U.S.




Metro areas as diverse as Fresno, Calif., Austin, Texas, and Honolulu, Hawaii are the healthiest housing markets in the country, according to mortgage giant Freddie Mac.
That’s how its Multi-Indicator Market Index, or “MiMi,” which pulls together data that aims to show whether local, state and national housing markets are stable and “consistent with that market’s long-term normal activity,” assessed conditions in October.  http://flip.it/FKJjW

The Fastest Ways to Wreck Your Credit

The Fastest Ways To Wreck Your Credit




There are a handful of financial missteps that can wreak havoc on your credit score, and in a hurry.
It pays to know what they are. Your all-important credit score is used to determine your eligibility for mortgages, car loans and credit cards, plus how high of an interest rate you’ll pay. Prospective landlords and employers can also pull your credit reports ... http://flip.it/MijUU

There May be More Single Women Buying Houses in 2016

There May Be More Single Women Buying Houses in 2016




Up until the housing crisis, single women in the U.S. bought houses more often than their single male counterparts. While the share of single female homebuyers tapered off as mortgages became harder to come by in the wake of the crisis, the tide may change in 2016.


The percentage of single female homebuyers dropped to 15% this year from 21% in 2009, but it looks that share is about to make a... http://flip.it/jplR3

Four mortgage secrets only mortgage lenders know

Four mortgage secrets only mortgage lenders know

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Mortgage applications up as Fed moves rates

Mortgage applications up as Fed moves rates

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Small mortgage? Why you'll likely get a lousy rate

Got a small mortgage? Why you’ll likely get a lousy rate

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Fed is Trying to Keep Mortgage Rates Low with a Blog Post

The Fed Is Trying To Keep Mortgage Rates Low With A Blog Post

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