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Mortgage Rates Continue to Hover Near Record Lows

For nearly a year, mortgage rates have remained near historic lows. The 30-year fixed-rate mortgage fell this week to average 2.77%, Freddie Mac reported. Its lowest average on record was 2.65%, recorded earlier this January. “We’re now seeing rates fluctuate a bit as political and economic factors drive Treasury yields higher,” says Sam Khater, Freddie Mac’s chief economist. “However, we...

The United States white house

Biden Sworn In, With Real Estate on Agenda

Joe Biden was sworn in as the 46th U.S. president on Wednesday, taking the reins in the nation’s response to the COVID-19 pandemic and the ensuing economic shakeout, a deeply divided country, and a host of other challenges. But he’s already signaled that several real estate issues are on his administration's to-do list. The National Association of REALTORS® applauded Biden's inaugural speech that...

Map of the United States representing real estate community associations by state

Record Number of Homeowners Live in HOA Communities

A new housing report shows 73.9 million Americans reside in a community with a homeowners association or condominium board. That is more Americans than ever, according to the Foundation for Community Association Research. California now leads the nation with 49,200 associations, followed by Florida, with 48,500; Texas, with 21,000; Illinois, with 18,800; North Carolina, with 14,100; and New York, with...

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Remote Workers May Seek Retirement Housing Early

As more work is done remotely, some Americans are deciding to make an early move to their retirement locale. Many employers are offering employees the option to work from home for the rest of the year due to the COVID-19 pandemic, and some have adopted remote work as a permanent option. Freed from the bounds of a commute, many older Americans are deciding to move now. “The pandemic was unexpected,...

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Investors Ready for ‘Bonanza’ in Housing

Single-family landlord giants are expecting a surge in repossessed homes as millions of homeowners have fallen behind on their mortgage payments and may be at risk of losing their homes once eviction moratoriums end. The Wall Street Journal reports that landlords are waiting for a “potential bonanza” of distressed properties as well as the emergence of a new wave of renters. About 3.5 million...

Statistics detailing how home sales have hit 2006 levels and 'continue to amaze'

Home Sales Hit 2006 Levels, ‘Continue to Amaze’

Home sales climbed in August to the likes of the 2006 housing boom days, despite the COVID-19 pandemic. Existing-home sales in each of the four major regions of the U.S. saw month-over-month and annual growth, the National Association of REALTORS® reported on Tuesday. The Northeast saw the largest monthly improvement in home sales. Housing inventories continue to remain tight, putting upward pressure...

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Create the Most Inviting Outdoor Space

No matter how big or small a home, terraces, porches, or backyards are skyrocketing in importance to buyers and owners. After sheltering in place from the COVID-19 pandemic, more homeowners are looking to extend their spaces to the outdoors. House hunters may be putting more weight on listings that have a yard with cozier spaces too. Designers say the outdoor space should be thought of as another room...

Image of a home and introduction text: Moving During COVID-19

‘I’d Risk COVID-19 Exposure for My Ideal Home’

A surprising number of house hunters have declared just how important it is to find their dream home during the global health crisis, even at the risk of their own health. In a recent survey conducted by Helitech, a foundation repair company, 37% of 980 buyers said they’d “risk COVID-19 exposure to obtain my dream home.” The consumers surveyed either are in the market to move, started their plan...

Charts showing mortgage rates for June 2020

Mortgage Rates Remain at All-Time Low

The 30-year fixed-rate mortgage stayed at its record low this week, offering an opportunity for home buyers to lock in the lowest rate in Freddie Mac’s records dating back 50 years. The 30-year fixed-rate mortgage averaged 3.13% this week. The mortgage market has seen a resurgence in applications for home purchases in recent weeks. “The rebound in purchase demand partly reflects deferred sales as...

Federal Housing Finance Agency official logo

FHFA Won’t Require Lump-Sum Payment After Forbearance

The Federal Housing Finance Agency, which regulates mortgage giants Fannie Mae and Freddie Mac, said Monday that it will not require homeowners who take mortgage forbearance due to financial hardship from the COVID-19 pandemic to make up the missed payments in a lump sum. The FHFA made the announcement after news stories cautioned that homeowners who take forbearance would be on the hook to repay...

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