Mortgage rates are dropping, giving millions of homeowners an opportunity to lower their monthly payments. An estimated 8.2 million borrowers could refinance and potentially lower their monthly payments by at least 75 basis points, estimates Black Knight, a mortgage software and analytics firm. This marks the largest percentage of homeowners who stand to benefit from lower mortgage rates since the end of 2016.Last week, the average
The right home improvements could help shave energy bills by up to 35% or unlock up to $627 in annual savings, according to the U.S. Department of Energy.Steve Chalk, who recently retired from his work at the department, told CNBC that a home energy assessment can help determine what the best savings projects are for a homeowner to take on.Home energy audits cost about $400, but the price greatly depends on the type of residence and its loca
A termite infestation can be costly, and sadly, many homeowners don’t discover there’s a problem until these wood-eating pests have already caused a great deal of damage to a home or an inspection uncovers it during a home sale.“Termites are referred to as the hidden enemy,” says Mike Duncan, an associate certified entomologist and eastern region trainer for Truly Nolen, a pest control company. The damage can reach $7,900 or more before t
Home buyers are reaping some of the lowest borrowing costs in years this buying season. The 30-year fixed-rate mortgage remained unchanged from last week at 3.82%, which matched last week for the lowest average since September 2017.“Mortgage rates were mostly unchanged from last week due to easing of trade tensions with Mexico, which helped stabilize markets,” says Sam Khater, Freddie Mac’s chief economist. “These historically low ra
Participants in the Deferred Action for Childhood Arrivals program are ineligible for mortgages from the Federal Housing Administration, a Housing and Urban Development official confirmed in a letter this week, ending recent uncertainty on the issue.President Barack Obama had started the DACA program on June 15, 2012, during his presidency in a move to prevent the deportation of children of immigrants to the U.S. About 800,000 people are par
The assumption that baby boomers want to settle in a suburban McMansion may not live up to their reality. The older generation loves city life, too, and researchers are finding more urban dwellers in that age group, according to a new analysis from RENTCafe of U.S. Census Bureau data from the 250 largest U.S. cities.In fact, New York City claimed 14 places on RENTCafe’s list of the top 20 ZIP codes with the largest baby boom
Housing analysts warn that President Donald Trump's proposal to impose a 5% tariff on Mexican imports could have a trickle-down effect on the U.S. real estate market, pushing up prices for homes and many household goods. Newly constructed single-family and multifamily units may become more expensive because the tariff would hike the price of homebuilding materials, CNBC reports.Eleven percent of steel imports to the U.S. come from Mexico, accordi
The busy time of year is here and we're working to help make business more productive with the system upgrades. We're still on pace to have the upgrades available this year and this month we brought on 4 new members including Michael Chung dealing the Sacramento area, David Mchone dealing Orange County, Eileen Zhang dealing the Bay area, and Gary Wentz dealing Los Angeles.With busy times, it pays to have listings more so... With listings, you wil
The Asian American and Pacific Islander demographic could be poised to become the nation’s largest minority group over the next few decades, according to the 2018-2019 State of Asia America report produced by the Asian Real Estate Association of America, in conjunction with RE/MAX and Freddie Mac. The population’s close family ties, high education, entrepreneurial spirit, and higher household incomes are expected to have a big impac
Home prices are slowing compared to a year ago. That’s prompting the share of properties considered “equity rich” to decrease and the share of “seriously underwater” properties to grow to 9.1% of all U.S., homes, according to a newly released report reflecting first-quarter data from ATTOM Data Solutions.At the end of the first quarter, more than 5.2 million U.S. properties were seriously underwater, meaning the combined balance of
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