Thursday, June 22, 2017 Latest Real Estate News
Mortgages & Markets
London Sunrise
Realtors Lower Housing Market Sales Forecast
  • Home Prices on the Rise for February
  • The largest price increase was in Portland, OR as prices rose by 11.9 percent compared to the previous year's numbers. Following close behind were Seattle, WA and Denver, CO, with 11 percent and 9.7 percent increases from the previous year respectively.
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Wells Fargo Holds Homebuyers Assistance Program
  • Credit Remains Biggest Hurdle for Millennials
  • It is acknowledged as the biggest hurdle first time homebuyers have to face in the real estate market. The stringent rules of loans and mortgage credit, as a byproduct of the recent recession, has made many millennials think twice to buy a home. According to a report from CNBC.com, while financial institutions are paying the price for their misconduct during the mortgage crisis, millennials too are paying the price.
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Wells Fargo Holds Homebuyers Assistance Program
  • Homeownership Rates Near All Time Low
  • The previous higher was at 69.4 percent way back in 2004 when the mortgage lending was in its fast and loose phase. Nowadays, the homeownership rate is just one tenth of one basis point above the all time low in the second quarter of 2015.
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Market Reacts To Federal Reserve Interest Rate Decision
  • Higher Mortgage Rates Keep Economy Afloat
  • On a year on year basis, the current rate is lower compared to 3.68 percent at the same last year. The housing market remained steadfast while the rest of the economic factors had dipped in volume. For its part, residential construction spending, remodeling spending and other related transactions grew by 14.8 percent.
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Edinburgh Aerial Views
  • Scotland's Property Market Shows Falling Prices but Sales Are Rising
  • With these changes, the average price of a home in Scotland costs £159,198. The Registers of Scotland reported that there were 19,802 properties that changed owners in the first quarter of 2016. This was the highest volume of transactions recorded for the same period since 2007 to 2008. The total sales value was pegged at £3.15 billion, a rise of 8.3 percent from 2015.
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Diners Enjoy Breakfast In The Sky In Sydney
Stocks Rebound After Sharp Drop
Life In Shanghai
Molson Indy
  • House Affordability Easily Determined Nowadays
  • The bank measured affordability as the percentage of household income needed for mortgage payments each month on a median priced home in a given area. The bank determined the baseline as a 25 year amortization on the home for a five year term.
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New Home Construction Continues To Rise
New Home Sales Up Despite Rising Mortgage Rates
  • Homebuyers Put Off by Credit Score Jitters
  • The statistics belie the fear of many home buyers especially first timers. 34 percent of future buyers said their credit scores may be too low to obtain a loan. 45 percent of those surveyed said they decided on postponing the purchase of a home to bide time in improving their credit scores.
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