More home appreciation is likely to come in the new year. In a new report released by CoreLogic, economists predict home prices will spike by 5.4% from October 2019 to October 2020. That is even higher than the 3.5% annual appreciation in national home prices posted this October, the real estate data firm notes.Nationally, over the past year, home prices are up 3.5% with the rate of growth accelerating from September into October, says Frank Mart
Winter is the best time of year to buy a home, offering the biggest bargains to home buyers, a study released last week by ATTOM Data Solutions showed. But in which markets are buyers snagging the best deals this winter? And don’t worry, sellers, the study showed some prime markets for premiums for you, too.ATTOM researchers analyzed more than 23 million single-family home and condo sales over the past six years. Buyers who are willing to close
You can expect the housing market to continue gathering strength in the new year. Freddie Mac predicts 2019 to wrap up with 6 million home sales for the year and 6.1 million in 2020, according to the mortgage giant's November forecast.Freddie Mac Chief Economist Sam Khater acknowledges that the economy saw increased volatility in November from ongoing trade disputes. “However, given low interest rates, modest inflation, and a strong labor marke
Cyber Monday shoppers beware: There are new cybersecurity warnings about smart TVs. The FBI says these television sets, which connect to the internet, are vulnerable to hackers. The camera and microphone on many smart TVs also can enable hackers to listen in.The FBI’s field office in Portland, Ore., posted a warning on its website about the risks. “Beyond the risk that your TV manufacturer and app developers may be listening an
The best days of the year to buy a home all fall in the month of December, according to a new analysis released by ATTOM Data Solutions, a real estate data firm.Buyers who close on a home purchase the day after Christmas—Dec. 26—will likely realize the biggest discounts below full market value compared with any other day of the year, according to the study of more than 23 million single-family home and condo sales over the past six years.“C
The Department of Housing and Urban Development is increasing the amount of money that borrowers can roll into a Federal Housing Administration loan when paying for rehabbing homes located in opportunity zones.The FHA is allowing the extra funds through its Limited 203(k) Rehabilitation Mortgage Insurance Program for homes located in opportunity zones starting on Dec. 16.Buyers who purchase a home in a qualified opportunity zone can use the Limit
Mortgage prepayments, a common gauge for housing and refinancing demand, jumped to its highest level since May 2013—a good sign for the market, according to a new analysis from data and analystics firm Black Knight. Mortgage prepayments were at 1.81% in October, more than double the figure a year ago. That represents a 134% year-over-year increase, Black Knight reports.What’s causing the improvement? Low mortgage rates are prompting more peop
Mortgage rates declined this week, with the 30-year fixed-rate mortgage averaging 3.66%, Freddie Mac reports. After several weeks of increases, the drop in mortgage rates is a welcome sign for home buyers.“The housing market continues to steadily gain momentum with rising homebuyer demand and increased construction due to the strong job market, ebullient market sentiment, and low mortgage rates,” says Sam Khater, Freddie Mac’s chief ec
President Donald Trump signed a bill Thursday evening to extend the National Flood Insurance Program until Dec. 20, another short-term gap measure that came just hours before the program was set to expire. Congress had approved the extension bill earlier Thursday before it went to the president for his signature.This marks the 13th short-term extension of the NFIP since 2017. The National Association of REALTORS® has long called for a long-term
Low mortgage rates and a strengthening economy propelled home sales in October, the National Association of REALTORS® reported Thursday. Total existing-home sales, which include completed transactions of single-family homes, townhomes, condos, and co-ops, rose 1.9% month over month to a seasonally adjusted annual rate of 5.46 million, NAR’s latest existing-home sales report shows. Sales are up 4.6% from a year ago.“Historically low interest
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