Items Tagged with 'First-time home buyers'

ARTICLES

  • First-time homebuyers key to opening access to credit

    And why setting a homeownership rate goal doesn’t make sense
    Access to credit remains tight not only compared to the housing boom years but also compared to historical levels. At the Mortgage Bankers Association Secondary conference in New York City, panelists at the Access to Credit session discussed how to safely open the credit box, and what some of the current hindrances are.
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  • Freddie Mac: Mortgage rates decrease for first time in weeks

    First-time buyers increase market share
    Mortgage interest rates have continued to increase, and last week even hit the highest level since 2013, but they decreased for the first time in weeks. And what’s more, it seems even the previous increasing trend hasn’t dampened the demand of this year’s homebuyers or kept first-time homebuyers out of the market.
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  • The first-time Millennial homebuyer just turned 30

    Millennials step up their borrowing game from February to March, yet still have to rent longer
    The average Millennial homebuyer just turned 30. According to Ellie Mae's latest report, the average age of a Millennial homebuyer rose from 29.5 in March 2017 to 30.1 in March of this year. Ellie Mae points to the compression of inventory largely due to Baby Boomers aging in place instead of relocating and retiring as the reason for the average age of the Millennial homebuyer to creep up into the 30s.
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  • First time buyers flood D.R. Horton Express homes

    Creates affordable option for new home buyers
    Four years ago, homebuilder giant D.R. Horton created its line of affordable homes targeted at first time homebuyers, which are now becoming increasingly more popular. In fact, Express homes made up more than one-third of homes sold and more than one-fourth of total home sales in the latest quarter.
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  • Lennar targets Millennials with mortgage that pays off their student loans

    Lennar subsidiary Eagle Home Mortgage offers unique lending product
    A recent study showed that mounting student loan debt is holding Millennials back from buying homes – for seven years. But one homebuilder is trying to make that seven-year delay go away. Eagle Home Mortgage, a mortgage lender and a subsidiary of Lennar, announced Tuesday that it is rolling out a new mortgage program that will help homebuyers pay off their student debt.
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  • Lack of housing inventory holding back new home sales

    Homebuilders not producing what buyers want
    New home sales increased in June from last month and last year, however most experts agreed the lack of housing inventory is holding back sales. But one economist disagreed, saying the low levels of inventory are actually driving the increase in new home sales.
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  • Some states implement student loan disclosures

    Provide students with expected, future monthly payments
    As student loans soar and continue to block first-time buyers from owning a home, some states took action to require more disclosure. Studies show keeping up with how much they owe in student loans is not college students’ strong suit, but keeping up with that could get easier in some states.
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  • Millennial homeownership rates dropped in past decade

    Fannie Mae explains why
    The homeownership rate among young adults dropped significantly over the past 10 years. A new study from Fannie Mae and the University of Southern California explains why, and the study’s simulation showed homeownership rates among young adults are likely to see an increase over the next 20 years.
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