The job market in some areas of the country may be robust, but continually rising home prices are keeping workers from being able to buy. Realtor.com® sought to identify the metros with the best prospects for a job and affordable real estate options.Using data from the U.S. Bureau of Labor Statistics. realtor.com® found the professions that are expected to see the most growth in new jobs through 2026, including the green energy, health care, an
Subprime mortgages—which were blamed for sparking the last housing crisis—are reappearing, this time being dubbed “nonprime” loans. This lending option, which carries new quality standards, is growing for buyers who have damaged credit.California-based Carrington Mortgage Services is one company expanding its nonprime loan offerings. “We believe there is actually a market today for people who want to buy nonprime loans that have been pr
Borrowing costs haven’t budged much in recent weeks, offering some relief from the weekly rate increases that had almost become routine at the start of 2018.“Mortgage rates have been holding steady over the past two months,” says Len Kiefer, Freddie Mac’s deputy chief economist. “Rates have bounced around 4.4 percent since mid-February. Rates could break out and head higher if inflation continues to firm. … If inflation continues to t
Rising home and rental costs are pressing millennials to expect more from their parents. About 17 percent of millennials—those born between 1981 and 1996—expect their parents to help them with their first down payment on a home, according to a report by Apartment List, based on about 13,000 responses.The Apartment List survey also showed about 8 percent of millennials who are not students get some form of financial help from their parents to
Homeowners in many markets are getting a strong realistic view of home prices in their markets. Appraised values were, on average, just 0.36 percent lower than what homeowners expected in March, according to Quicken Loans’ National Home Price Perception Index. Further, more than 80 percent of the metro areas analyzed showed appraisals at, or higher than, the owner’s estimates.“This month’s HPPI is great news for homeowners who may be thin
The Mortgage Bankers Association reported that total mortgage application volume for refinancings and home purchases dropped 1.9 percent on a seasonally adjusted basis compared to the previous week. Volume is now 5.5 percent lower than a year ago.Refinancings were the cause of most of that drop. The share of refinancing applications fell to the lowest level in a decade, and applications are now nearly 13 percent lower than a year ago, according t
About one in five conventional mortgage loans issued this winter went to borrowers who spent more than 45 percent of their monthly incomes on their mortgage payment and other debts. This is the highest proportion since the housing crisis, according to CoreLogic, a real estate data firm. Further, that is nearly triple the proportion of such loans issued in 2016 and the first half of 2017.Real estate professionals told WSJ that they are concerned a
Austin, Texas, ranked number one for the second year in a row as the top place to live in the United States, according to new rankings released by U.S. News & World Report. The magazine ranks the 125 largest metros based on affordability, employment prospects, and quality of life each year.“When deciding on a place to settle down, it’s important to understand that where a person lives can impact their well-being,” says Kim Castro, execu
The latest consumer sentiment index from Fannie Mae shows that home buyers don’t seem to be deterred by rising prices and rates, at least for now. The net share of survey respondents who said now is a good time to buy rose 10 percentage points in March month over month and is now at 32 percent, according to Fannie Mae’s Home Purchase Sentiment Index, based on a poll of about 1,000 consumers.Overall, the index rose 2.5 percent in March to a re
The effect of natural disasters—hurricanes and wildfires—in 2017 appears to have a lessening impact on mortgage delinquencies at least on the national levels. Nearly 5 percent of mortgages were in some stage of delinquency (30 days or more past due) in January, a slight decline from a year ago, according to CoreLogic’s Loan Performance Insights Report, released Tuesday.But the areas hit by natural disasters late last year continue to face e
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