Monthly Archives: September 2014

When Mortgage Rates Rise…..

Posted on September 30, 2014 by Cliff

Mortgage rates have hovered around yearly lows for weeks. But with rate-hike forecasts looming, can buyers count on borrowing costs to stay low?              Many economists are now predicting the average 30-year fixed-rate mortgage to reach 5 percent by the middle … Continue reading →

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950K Homes Returned To Positive Equity 2nd Quarter

Posted on September 29, 2014 by Cliff

Nearly 950,000 homes returned to positive equity in the second quarter, now bringing the total number of residential homes with equity nationwide to more than 44 million, according to CoreLogic’s Equity Report. “The increase in borrower equity of $1 trillion … Continue reading →

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Credit Reporting and Scoring Practices Looked At By Lawmakers

Posted on September 26, 2014 by Cliff

During a recent hearing of the House Financial Services Committee, lawmakers reviewed credit reporting and scoring system practices. Some advocated changes to help erase blemishes faster from a credit report and urged other factors to be considered in the scoring … Continue reading →

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Mortgage Applications Have Trended Down

Posted on September 25, 2014 by Cliff

“Purchase mortgage applications have trended down over the past three months, despite the declining interest rate environment,” Doug Duncan, Fannie Mae’s chief economist, noted in his monthly economic outlook. “This suggests a residual conservatism on the part of consumers and … Continue reading →

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First Time Buyers Turn To The Mom & Dad Bank For Help

Posted on September 24, 2014 by Cliff

First time buyers are increasingly turning  to the Mom and Dad bank to help fund their home purchases. Twenty-seven percent of first time buyers last year received a cash gift from relatives or friends for a down payment, according to … Continue reading →

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Nations Largest Home Lenders Cutting Involvement With FHA

Posted on September 23, 2014 by Cliff

The nation’s largest home lenders are curtailing their involvement in FHA  (Federal Housing Administration) loans, known for their small down payment requirements and help to first-time buyers and lower-income Americans. Lenders say they are concerned that they will be penalized … Continue reading →

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Record High For American Houshold Net Worth

Posted on September 22, 2014 by Cliff

Recent gains in the stock market and higher home prices helped Americans’ net worth soar to a record high in the second quarter, according to a new report by the Federal Reserve. Net worth was up 1.7 percent during the … Continue reading →

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FHA Fees Are Driving Away First Time Home Buyers

Posted on September 18, 2014 by Cliff

FHA Fees Are Driving Away First Time Buyers:  The Federal Housing Administration’s rise in its mortgage insurance fees in recent years is pricing many “creditworthy Americans out of the market” and causing the number of first-time home buyers to reach … Continue reading →

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Americans Squeezed By Rising Rents & Falling Wages

Posted on September 17, 2014 by Cliff

Americans are increasingly becoming cash-strapped, facing rising rents while their paychecks are shrinking or stagnant, RealtyTrac reports. Nationwide, rents have risen by 6 percent over the last decade, according to data compiled from Harvard’s Joint Center for Housing Studies. Meanwhile, … Continue reading →

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What Makes A Smart City?

Posted on September 16, 2014 by Cliff

Everyone wants to live in a smart place. But the magic mix that draws people in is composed of a lot of different dynamics coming together all at once, according to the National Geographic Channel’s Smart Cities program. What Makes … Continue reading →

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