Articles by Alcynna Lloyd

Homebuyers, here's how much you could have saved by shopping around for a mortgage last week

With last week's average rate, the average borrower could save $42,875 on a $300,000 loan
Mortgage borrowers who shopped around last week could’ve saved $42,875 on the life of a $300,000 loan, according to LendingTree's Mortgage Rate Competition Index. According to the company’s data, although the share of borrowers with rates under 4.25% moderately edged down, nearly 33% of borrowers received rates under 4.25%.
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First American: Mortgage defect risk fell 4.2% in April

Declining mortgage rates led to an increase in lower-risk refinance transactions
In April, the nation’s mortgage defect risk edged down as interest rates continued to decline, according to the latest First American Loan Application Defect Index. According to the report, the frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage applications decreased by 4.2% from the previous month.
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Freddie Mac: Mortgage rates below 4% are a glimmer of hope in a rebounding market

The 30-year fixed-rate mortgage averaged 3.99% this week
As economic tension continues to mount, mortgage rates have dropped below 4% to the lowest level in more than a year, according to the latest Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said although financial sentiment is weakening, cheaper financing should give a boost to the housing market.
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First quarter GDP is revised down to 3.1% as corporate profits slowed

Negative contributions to GDP came from residential fixed investments
Real gross domestic product increased at an annual rate of 3.1% in the first quarter of 2019, according to the second estimate released by the U.S. Bureau of Economic Analysis. Today's estimate is based on more complete source data than was available for the advance numbers issued last month, when GDP was estimated at 3.2%.
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This is why dropping your list price can earn you a scarlet letter

Expert says dropping your home price also reduces its appeal
Deciding the right price point and time to sell a home can have a significant impact on how well it does on the market. After all, Redfin claims that home sellers who list their homes online receive up to 3.4 times more online views the day they’re listed versus the day a price reduction occurs. Here's why.
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Hey students, can you afford to live here?

RentCafé lists the most affordable rental markets for students
Student renters are suffocating under more than $1.5 trillion worth of student loan debt. In order to determine which rental markets offer them the most affordable prices, RentCafé compiled a list of the 100 most affordable metros near universities. Find out which campuses made the top 5.
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MBA: Global economic tension pushes mortgage applications even lower

Market Composite Index falls 3.3% from the previous week
Global economic headwinds continued to drive mortgage applications lower for the week ending May 24, 2019, according to the Mortgage Bankers Association. MBA Vice President of Economic and Industry Forecasting Joel Kan said even with lower rates on three of the five surveyed loan types, refinance activity fell 6%, essentially reversing an 8% increase the week before.
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This city is the nation's hottest housing market right now

In this city, 47.7% of homes sold were bought above asking price
As home-price growth lags, inventory declines and residential sales slow, it's safe to say the housing market is in the midst of a slowdown. And although several housing markets are falling behind in the slump, data from Redfin indicates Tacoma, Washington, is thriving.
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