It’s today’s real estate quandary–to buy or to rent? As you might suspect, that answer differs on where in the country you live. Long Beach, CA? It’s a great time to buy! But for New York City residents, it’s much more economical to stay renting. Thanks to Trulia, there’s a engaging graph that clearly shows …
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Unless Congress takes action, the current loan limits will expire on Sept. 30 and the cost of a mortgage could rise significantly, especially in high-cost areas such as California. Making sense of the story More than 30,000 California families could face higher down payments, higher mortgage rates, and stricter loan qualification requirements if conforming loan …
The Federal Reserve says it will complete its purchases of $600 billion in Treasury securities by the end of this month as planned – a program that Fed Chairman Ben Bernanke says has succeeded in keeping mortgage interest rates low. These low interest rates combined with the reduction in home prices endured over the last …
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Prospective homebuyers cite worries about future unemployment, concerns about property affordability, and the local economic outlook as issues that hold them back from jumping into the market, according to an industry survey commissioned by Genworth. But the Virginia-based mortgage insurer says these economic concerns have not translated into excessive mortgage stress among recent U.S. homebuyers. …
Continue reading ‘87% of First-Time Homebuyers Don’t Foresee Payment Troubles’ »