Homeowners

A resource destination for potential homebuyers seeking to educate themselves on the mortgage process so they can make more informed buying decisions.

ARTICLES

  • Zillow pilots app for self-guided house tours

    Makes headway in iBuying space with app that puts consumers in control
    Zillow is testing a mobile app that enables users to tour a house for sale without the need for agent or an appointment. The app puts the control in the hands of the consumer, and it's part of Zillow's continued effort to make headway in the iBuying space. Tour it Now provides users directions to the property, unlocks the doors when they arrive, and allows them the opportunity to tour the house on their own time.
    Read More
  • Homeownership investment company Point raises $122 million

    Plans to work with investors to tackle housing affordability issues
    Homeownership investment company Point just landed a major cash infusion that will fund its plans to help more Americans access their home equity, raising $100 million in platform capital and securing $22 million in a Series B funding round. "We are witnessing the emergence of a whole new class of financial solution that is aligned with homeowners, and investors are taking notice," said Point Co-Founder and CEO Eddie Lim.
    Read More
  • HELOC borrowers increasingly likely to shop for alternative funding

    Study shows HELOC providers face growing threat from alternative lenders
    HELOC volume has been limp in the last year despite rising equity levels thanks to rising interest rates and new tax laws, and now HELOC providers are facing increased competition from alternative lenders. A recent survey by J.D. Power revealed that homeowners are researching their options, looking into alternative funding sources before selecting a HELOC.
    Read More
  • Older homeowners are driving the home improvement market

    Harvard study says Baby Boomer spending on accessibility improvements will soar
    Armed with record amounts of home equity and an expressed desire to remain in their homes as they age, older homeowners are driving the home improvement market. A recent study by the Joint Center for Housing Studies at Harvard University revealed that households 55 and older account for half of all current home improvement spending. And, as Baby Boomers reach their 70s and 80s, researchers say their investments in home modifications to enhance accessibility will soar.
    Read More
  • Seniors now have a collective $7 trillion in home equity

    Housing wealth among the senior set reaches record levels
    Housing wealth for homeowners 62 and older continues to grow at a steady clip, reaching a record $7.05 trillion in the fourth quarter of 2018. The National Reverse Mortgage Lenders Association revealed that senior housing wealth grew 1.4% in the last quarter thanks to an increase in senior home values.
    Read More
  • Foreclosure rate falls to near 20-year low

    Rising equity levels push foreclosure rates down
    The share of mortgages in some stage of the foreclosure process fell to 0.4% in December – tying with the previous month for the lowest rate since January 2000, according to the latest report from CoreLogic, which noted that the overall delinquency rate has fallen steadily since the beginning of 2018 to pre-crisis levels not seen since early 2006.
    Read More
  • Average homeowner gained $9,700 in equity in 1 year

    Will this translate to demand for home equity loans?
    Homeowners keep racking up equity, with the average gain totaling $9,700 over the past year. According to the latest report from CoreLogic, this equates to an 8.1% increase year over year and represents an aggregate gain of $678.4 billion since Q4 2017. Could this mean big volume for home equity loans as interest rates slide?
    Read More
  • Is the refinance market bouncing back? Number of refi candidates jumps 75%

    Refinance demand dried up in the last year, but could a comeback be afoot?
    Refinance demand has essentially dried up in the last year, but could things finally be turning around? Maybe, according to the latest data from Black Knight, which revealed that there are now 3.27 million homeowners who could reduce their mortgage rate by at least 0.75% by refinancing their mortgage. That's the greatest number of potential refi candidates since January 2018.
    Read More
  • Average home lost $2,440 in value since this summer

    Property values deflate as home price growth declines
    In December, the average home declined 0.8% in value since August 2018, equating to a loss of $2,440, according to the latest report from Black Knight. The data provider estimated that home prices appreciated 4.6% in December, down from a high of 6.8% in February 2018, and predicted January numbers will follow a similar trajectory.
    Read More
  • The housing market isn't appreciating like it used to

    But will things turn around in 2019?
    Home price growth continues to slacken, with annual growth decelerating to the slowest pace since August 2012. According to recent data from CoreLogic, home prices in January grew 4.4% year over year, increasing just 0.1% from the previous month. While lower mortgage rates should help appreciation pick up this spring, will 2019 see the slowdown continue?
    Read More