Homeowners

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

ARTICLES

  • More young families opt to rent instead of buy

    Homeownership for families with young kids drops 14%
    More young families chose to rent instead of buy in the 10-year span from 2006-2016, according to a study by RENTCafé. Likely influenced by rising home prices, tough lending rules and a lack of entry-level homes, the number of families with minor children that owned a home decreased by 3.6 million.
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  • These are the best and worst markets for first-time homebuyers

    Check out which Oklahoma city is the best housing market
    WalletHub, a personal finance website, assessed factors like housing affordability, tax rates and crime rates to determine the most favorable housing markets for first-time homebuyers. As more Millennials become potential homebuyers, some of these markets might best suit their housing needs and some of them they may want to avoid.
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  • Foreclosure filing activity down nationwide

    But some local markets show an uptick
    Foreclosures in the first half of 2018 are far below the peak of 1.6 million in 2010, but 40% of local markets showed an uptick in foreclosure starts, prompting one expert to blame loosening lending standards.
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  • Want to save up for a home? Say goodbye to 54% of your income for 6 years

    It will take the average renter 6 years saving 20% of their income to afford a 20% down payment
    According to research from Zillow affiliate Hot Pads, it will take the average U.S. renter more than six years to save up for a 20% down payment on a home. With rent now taking up an average of 34% of a renter's income and home prices on the rise, the dream of homeownership is becoming more and more distant for U.S. renters.
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  • NAMB urges CFPB to re-examine policies

    Asks bureau to develop process to reclassify consumers’ submissions
    The National Association of Mortgage Brokers recently asked the Consumer Financial Protection Bureau to address immediate changes needed within the Consumer Complaint and Consumer Inquiry Handling Processes. NAMB states that the bureau falsely reported that consumers were experiencing extensive issues with mortgage brokers, but 90% of complaints were registered against lender and bank loan originators, not mortgage brokers.
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  • Growing number of Americans say now is a bad time to buy a home

    Suggests lingering memories of the housing crash may slow home price growth
    There’s been a distinct uptick over the past year in the number of Americans who say now is a bad time to buy a home, and a sizable number point to high home prices as the primary reason. But caution might be a good thing, according to one think tank, as it could serve as a necessary weight tempering housing demand.
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  • Most Americans want to own a home in retirement

    Survey reveals 85% want to own, and most don’t plan on having a mortgage
    For many, retirement goals include travel, leisure and, apparently, homeownership, as a survey reveals 85% of non-retirees want to own a home when they're in retirement. But the grim reality is that a good number of Americans may still carry mortgages into retirement, and that’s why some experts say reverse mortgages deserve a second look.
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  • Freddie Mac: Mortgage rates moderately increase

    Higher wages and better benefits increase home affordability
    Rising employment and increasing wages led to a slight climb in mortgage rates, according to Freddie Mac’s latest Primary Mortgage Market survey. Freddie Mac Chief Economist Sam Khater says global trade tensions are keeping investors cautious, thus borrowing costs have become more affordable for potential homebuyers.
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  • Can Millennials confront the looming threat of aging Baby Boomers?

    The Silent Generation and Baby Boomers sitting on $13.5 trillion in home inventory
    The Silent Generation and Baby Boomers are sitting on a whopping $13.5 trillion worth of home inventory, but aging Boomers are expected to trigger a large exodus from the housing market in upcoming years. Will Millennial homeownership demand fill the void?
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