The Federal Reserve (Fed) decided to keep the target range for the federal funds rate between 1 and 1.25 percent. This is in line with its economic data which shows inflation running below its targeted 2% threshold and as confirmed by the Consumer Price Index that remained unchanged on a seasonally Read more
Archives for July 2017
Mortgage Applications Slide Down in Latest Weekly Survey
In the week ending July 7, the volume of mortgage applications had acutely gone down 7.4 percent for the previous week. This data** is reported by the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. Survey HighlightsThe overall Market Composite Index on the Read more
Wages Now Struggle to Keep Up with Home Prices
The latest US Home Affordability Index data for the second quarter of the year reveals an unsettling fact about homeownership in the country: it’s getting more expensive to own a home since the crisis hit in 2008.In a recent report provided by California-based housing data and analytics company Read more
For first-time homebuyers, where’s the best or worst place to buy a home?
Where to buy a home? It’s a common dilemma shared by prospective homebuyers as they weigh what they want versus what they need.Finance website WalletHub somewhat made it easier by listing down the best (and worst) places for first-time homebuyers. The results came from its analysis of 300 U.S. Read more
Lenders Loosen Credit Standards Amid Tougher Competition for Fewer Mortgages
If you can’t beat them, join them. Mortgage lenders reportedly eased their credit standards, and will likely to do so, bracing for a tougher competition when mortgage demand is declining.Fannie Mae’s Mortgage Lender Sentiment Survey® for the quarter ended June 30, 2017 reported that the number Read more
