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Credit standards are loosening, a trend that has been consistent over the last three months. The Mortgage Bankers Association’s Mortgage Credit Availability Index rose 2.1% in November, which indicates “loosening credit.” Further, the trade group says it expects the trend to continue in the new year. “Expanding credit availability will continue to support active levels in mortgage lending, even as refinance activity starts to level off,
The mansion used as the backdrop of the popular 1960s TV show “The Beverly Hillbillies” has sold for about $150 million—a record-setting sale for California and the second most expensive for the U.S.Chartwell EstateThe home in the ritzy Bel Air neighborhood of Los Angeles is also known as Chartwell. It was once a pocket listing with a price tag of $350 million but sold after a series of price drops and being listed publicly on the MLS.The s
Florida is a popular haven for retirees, while Denver and Austin, Texas, have emerged as millennial hot spots. LendingTree used Census data to study the average age of homeowners across the U.S. and ranked the nation’s 50 largest metros based on the average age of its homeowners, from youngest to oldest. The study also includes the home price growth and household income growth for each of the average age of homeowners.The average age of a homeo
More first-time buyers emerged on the market in the third quarter—a modest rise, but one that economists are still upbeat about.First-time buyers purchased 591,000 homes in the third quarter, a year-over-year increase of 1%, Genworth Mortgage Insurance reports. First-time buyers comprised 39% of all buyers in the single-family market, and 55% of purchase mortgages.A large number of millennials are beginning to reach their early 30s. The average
The number of homes for sale plunged by nearly 10% annually in November at a time when low interest rates are increasing buyer demand, according to realtor.com®’s November 2019 Housing Trends report. The shortage of homes is accelerating: Inventories in November dropped 9.5% annually compared to 6.9% annually in October.“As millennials—the largest cohort of buyers in U.S. history—embrace homeownership and take advantage of this year’s
Vermont may offer some of the best opportunities for a winter investment property, according to new rankings released by Vacasa, a U.S. vacation rental management company. The firm identified the best places to buy a vacation home in 2019, factoring in aggregate cap rates and the ratio of a property’s net operating income over its cost.“Those that made the list this year have an almost built-in guest population, as they’re situated just a s
More than 624,000 military service members and veterans used home loans from the Department of Veterans Affairs this year, with younger buyers accounting for the majority of these borrowers, according to research from Veterans United Home Loans. VA loans were up 43% in 2019 compared to five years ago.Millennial and Generation Z buyers comprised nearly half—45%—of all VA home purchases this year. Further, VA refinance loans rose 44% in 2019 co
It’s important that those granite countertops gleam during showings, but some cleaning products may actually harm them. White vinegar, for example, has been a popular cleaning agent because it’s inexpensive and can combat bacteria and mold on many surfaces, such as glass and linoleum. But the acid in the vinegar can gradually ruin the finish of granite and wear away at the protective sealant, according to a new article at Apartment Therapy.Ac
Recent court rulings have shown that cities across the country are at odds about whether to allow homeless people to sleep on the streets—and the issue is now in the hands of the Supreme Court.The highest court in the nation is considering whether to weigh in on an appeal to Martin v. City of Boise, a 2009 case in which homeless individuals challenge lawmakers in Boise, Idaho, for imposing fines as part of an anti-camping ordinance. Several mun
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