The Department of Housing and Urban Development says it’s planning to raise premiums and tighten loan limits for seniors who use reverse mortgages, announcing the changes this week in a letter to lenders, The Wall Street Journal reports.“Given the losses we’re seeing in the [reverse mortgage] program, we have a responsibility to make changes that balance our mission with our responsibility to protect taxpayers,” said HUD Secretary Ben C
Average mortgage rates moved lower this week, as the 30-year fixed-rate mortgage continues to sit well below 4 percent.“The 10-year Treasury yield fell to a new 2017 low on Tuesday,” says Freddie Mac chief economist Sean Becketti. “In response, the 30-year mortgage rate dropped four basis points to 3.82 percent, reaching a new year-to-date low for the second consecutive week. However, recent releases of positive economic data could halt th
Real estate professionals across the country are rushing to help victims of Hurricane Harvey pick up the pieces after devastating floods struck the Texas coastline this week, submerging Houston and other areas in more than 50 inches of water. These practitioners are making temporary housing arrangements for displaced families, offering resources to repair flooded homes, raising funds, and coordinating supplies to be sent to those in need.Make a
Renters in NYC, LA and San Francisco have it the worstRenting is often seen as a cheaper alternative to buying, especially when rental prices are only rising 2.6 percent year-over-year — 3.6 percentage points less than the current for-sale housing price. But for households with the lowest income, even the least expensive apartments remain out of reach.The standard of affordability is when an individual or family spends less than 30 percent o
Only the West experienced an uptick in contract signingsKey Takeaways July's pending sales index dropped 1.3 percent year-over-year -- the fourth month of year-over-year declines.July’s Pending Home Sales Index (PHSI), a monthly forward-looking indicator measured by the National Association of Realtors (NAR), declined 0.8 percent to 109.1 in July from a downwardly revised 110 in June and declined 1.3 percent year-over-year — the fourth year-o
It's common for clients to reach into our pockets and expect a donation when they cannot make ends meetHave you ever had a client ask you to discount your commission? If not, you haven’t been selling real estate for very long.When it does happen, don’t be insulted. We all want the best deal we can get. Does anyone like paying commissions?Sometimes homesellers ask listing agents to give up some of the commission that they already agreed to pa
iPro currently deals throughout the states of California and Texas with new offices in New York and Florida. We continue to strive to broaden opportunities for real estate professionals and consumers. Visit www.iprore.com for the latest information and links.Click here for information on how to become a salesperson
The market share of adjustable-rate mortgages is slowly rising and will likely gain more popularity as fixed-rate mortgages increase over the coming year, says Archana Pradhan, CoreLogic’s senior professional economist, on the company’s Insights blog.The current market share of ARMs has fluctuated between 5 and 13 percent. They rise when fixed-rate mortgages increase and fall when those rates fall. In the first quarter of this year, ARMs ac
Outdoor fire pits and fireplaces are the hottest landscaping trend for fall, according to a survey from the National Association of Landscape Professionals. The association surveyed more than 5,000 of its landscaping professional members.Here’s what topped the NALP’s list of the five hottest outdoor trends for fall:1. High-tech fire pits: Fire pits today can be automated and programmed to turn on and off at certain times or controlled fr
Some singles are opting to use the money they had reserved for their future wedding to buy a home. After all, the money saved for a wedding could amount to a big chunk of change that could make for a sizable down payment on a home.The average cost of a wedding in the U.S. at the start of this year was $25,961, according to a survey by the Wedding Report.Carrie Graham, 35, in Austin, Texas, is among one of those singles who has decided homeownersh
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
