Low inventory; historic homeowner profits and more housing news…
Latest Case-Shiller report show rate of home price increases is accelerating
First-timers admit they seek help from mom and dad
According to TD Bank’s First-Time Homebuyer Pulse, 68% said they think now is the right time to buy a home and 52% are actively searching home listings online.
But, 75% of first-time Millennial homebuyers admit they’re overwhelmed by the process of buying a home.
As for what’s weighing on millennials’ minds, the answers vary.
People are staying in their homes longer than ever before, but it may pay off big for them should they choose to move. That’s according to a recent report from ATTOM Data Solutions, which stated that both homeownership tenure and home seller profits simultaneously hit new highs.
ATTOM Data Solutions, Irvine, Calif., said home sellers nationwide in 2019 realized a home price gain of $65,500 on the typical sale, up from $58,100 last year and up from $50,027 two years ago.
Capital Economics predicts 1 million new single-family homes will be built this year
“There are encouraging signs that the cost and availability of materials, lots and labor are all starting to improve,” the report stated while also mentioning a strong new home demand and a shift toward the construction of cheaper homes.
The central bank’s Federal Open Market Committee said Wednesday it will hold its benchmark funds rate in a range between 1.5% to 1.75%, where it has been since the latter part of last year.
The committee adjusted the language in its statement to reflect that policy is geared toward “inflation returning to the Committee’s symmetric 2 percent objective.”
The decision was unanimous. Several board members last year objected to the Fed’s rate cuts.
Employees were part of Seterus acquisition. The facility is expected to close on March 18, 2020.
Your FICO credit score may soon be changing, but if you see a dip in the next year, it’s probably not because of an existing mortgage or a high student loan balance. It’s more likely based on your payment habits.
Fair Isaac Corp., the company behind the popular FICO credit score said Thursday that its newest scoring models rolling out this summer will consider consumers’ payment history and the level of debt they’re taking on.
But those with high mortgages and student loan balances shouldn’t freak out. FICO’s new scoring model is more focused on checking to see if your debt level, especially credit card balances, has been significantly on the rise and whether you’ve been making regular and timely payments on any debt you have accumulated.
Take your vacation to new heights (there are two in Washington state)
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