Sat.Feb 13, 2021 - Fri.Feb 19, 2021

Millennials are driving US home sales

Housing Wire

Existing home sales rose for the second consecutive month , as January saw a seasonally-adjusted annual rate of 6.69 million purchases – up a robust 23.7% year-over-year. You can thank Millennials for that.

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Will Low Mortgage Rates Continue through 2021?

Keeping Current Matters

With mortgage interest rates hitting record lows so many times recently, some are wondering if we’ll see low rates continue throughout 2021, or if they’ll start to rise.

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Homeownership Remains Primary Driver of Household Wealth

Eye on Housing

The 2019 Survey of Consumer Finances (SCF) showed improvements in economic well-being for many across income and wealth distributions over 2016 to 2019. The homeownership rate increased from a low of 63.7% in 2016 to 64.9% in 2019.

Lakefront Houses: Considerations For Buying a Lake House

Maximum Exposure Real Estate

Considerations When Purchasing a Lakefront Home Are you looking for a lakefront house to purchase? Pursuing lake houses for sale is not uncommon at all. Lots of folks dream of living on the water. Lakefront homes fit a particular lifestyle choice that is incredibly exciting for many people.

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Mortgage rates jump to 2.81%

Housing Wire

After three weeks of unchanged rates, the average mortgage rate for a 30-year fixed loan jumped 8 basis points to 2.81%, reaching its highest point since mid-November, according to Freddie Mac ’s Primary Mortgage Market Survey.

3 Ways You’ll Win When You Buy a Home This Year

Keeping Current Matters

There are so many great reasons to purchase a home, and over the past year, we’ve realized more of them than we ever thought possible. If you’re a first-time homebuyer, having a home of your own can give you a greater sense of security and accomplishment in a time that’s largely uncertain.

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More Trending

Canadian Bank: “Your House Makes More Than You Do,” Draw Your Own Conclusion

Better Dwelling

One of Canada’s largest banks brought attention to a warning sign in many real estate markets. BMO published a research note titled “Your House Makes More Than You Do,” by senior economist Sal Guatieri. The note focuses on how sustainable and long-term current housing trends are.

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Existing home sales are still too hot

Housing Wire

The National Association of Realtors reported that existing home sales for January were at 6,669,000, which beat estimates. The year-over-year growth was an impressive 23.7%. The median sales price also jumped 14.1% year over year, which I warned could happen during the years 2020-2024.

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3 Ways Home Equity Can Have a Major Impact on Your Life

Keeping Current Matters

There have been a lot of headlines reporting on how homeowner equity (the difference between the current market value of your home and the amount you owe on your mortgage) has dramatically increased over the past few years.

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Newsmakers Hall of Fame: Dan Forsman Stands Behind the Power of Mindset

RIS Media

Industry veteran Dan Forsman —president and CEO of Berkshire Hathaway HomeServices Georgia Properties —was recently inaugurated into RISMedia’s 2021 Real Estate Newsmakers Hall of Fame.

Modular Homes: Pros and Cons of a Modular Home With Video

Maximum Exposure Real Estate

What to Know About Modular Homes Are you considering buying a modular home? Once thought a cheap and low-quality housing option, modular homes have come a long way in recent years.

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Invest in real estate, not the stock market

Housing Wire

The stock market is a funny game. Not the kind of game that the rookie Game Stop investors are used to playing, but a real-life, action-packed, form of entertainment that toys with millions of Americans’ emotions and finances every day.

Millennials: Is It Time to Buy a Bigger Home?

Keeping Current Matters

In today’s housing market, all eyes are on millennials. Not only are millennials the largest generation, but they’re also currently between 25 and 40 years old. These are often considered prime homebuying years when many people begin to form their own households and invest in real estate.

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NAR: Black Homeownership Rate Behind White Americans By Nearly 30%

RIS Media

NAR officials say data reinforces need for implementation of key housing policy initiatives to close persistent minority homeownership gaps.

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Settle Down on the Modern Frontier: How to Buy a House in Oklahoma City

HomeLight

“Ooooooklahoma where the wind comes sweepin’ down the plain.” You knew that was coming, right?!

Americans’ mortgage debt increased to $10T in Q4

Housing Wire

Overall household debt increased by $206 billion in the fourth quarter of 2020 to $14.56 trillion, according to the Federal Reserve Bank of New York. The Fed said that increase was primarily driven by a dramatic increase in mortgage originations.

Downsize or Upsize—Which Is Right for You?

American Lifestyle

The post Downsize or Upsize—Which Is Right for You? appeared first on American Lifestyle Magazine.

Homeownership Expenses That Your Clients May Overlook

RIS Media

By the time buyers contact you for help in making a real estate purchase, they’ve likely considered their budget and determined how much they can afford to spend on a new home. They’ve probably considered a down payment, mortgage payments, closing costs, taxes and insurance.

Builder Confidence: High Demand Offsets Higher Costs – For Now

Eye on Housing

Strong buyer demand helped offset supply chain challenges and a surge in lumber prices as builder confidence in the market for newly built single-family homes inched up one point to 84 in February, according to the latest NAHB/Wells Fargo Housing Market Index (HMI).

We need higher mortgage rates to cool the housing market

Housing Wire

The years 2020-2024 will have the best housing demographics ever recorded in U.S. history, with the lowest mortgage rates recorded in history. When you have these two titans acting in unison, it can potentially accelerate real home prices in an unhealthy way.

Everything’s A Bubble, and Canadian Real Estate Was One of The Worst Returns

Better Dwelling

Canadians are scrambling to buy a home and catch that huge wage of profits… but is it really that profitable? It depends what you’re comparing it to. When central banks flood the market with cheap money, almost everything soars. It’s not just real estate that is profitable.

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Get a no-closing-cost mortgage and a low rate, too

The Mortgage Report

A no-closing-cost refinance or home purchase saves you money upfront But your rate will be higher. Learn when a no-cost mortgage is a good idea. Mortgage Strategy Gina Pogol Housing Mortgage Mortgage Closing Costs mortgage rates Real Estate

Growth Ahead for New Single-Family Home Size?

Eye on Housing

An expected impact of the virus crisis is a need for more space, as people use their homes for more purposes. And while this measure has not increased significantly yet, new home size did level off in 2020 after years of decline.

Homebuilders preparing for big 2021, data suggests

Housing Wire

Overall housing starts in January totaled 1.58 million units, a decline of 6% from December , according to the latest statistics from the U.S. Census Bureau. But there’s reason for optimism from homebuilders – a huge spike in building permits.

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Virtual Networking Ideas for 2021

RIS Media

As a real estate agent, networking is very important for your business. However, networking in person has become a challenge. As community leaders, real estate agents can help safely connect members of their communities through online networking events.

Is it worth refinancing for 1 percent? What about for 0.5 percent?

The Mortgage Report

It's often worth refinancing for 1 percent. But is it worth refinancing for 0.5 percent — or even 0.25 percent? In some cases, the answer is yes. Mortgage Products Mortgage Rates Refinance

RealTrending Podcast: Challenges and Leadership Opportunities for Minorities and Veterans

Real Trends

Ryan Gorman, President and CEO, Coldwell Banker Real Estate and Booker Pickett, broker/owner of Coldwell Banker Pickett Fences in Land O’Lakes, Florida discuss Coldwell Banker’s new inclusive ownership program, challenges for brokers and building a brokerage that serves underrepresented potential homebuyers.

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5 first-time homebuyer mistakes to avoid

Housing Wire

The first-time homebuyer process is a lengthy one, and if you’re not careful, there’s a lot that can throw you off-track. From low appraisals to surprise credit checks, a number of hurdles could slow your purchase or even derail it altogether. Are you on the hunt for a new home?

Thoughts on Leadership: Lessons From the GOAT

RIS Media

I was energized by Sunday night’s Super Bowl, when Tom Brady, in his first year as quarterback for the Tampa Bay Buccaneers, won his seventh Super Bowl championship.

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Canada’s Expected Mortgage Credit Losses Reaches A Record $1.4 Billion

Better Dwelling

Despite Canada’s hot real estate market, lenders expect a record amount in losses. Statistics Canada (Stat Can) data shows expected credit losses (ECL) jumped in Q3 2020. ECLs are now at a record high according to the agency, but are a relatively small percent of total mortgage debt.