FHA mortgages are poised to get more expensive

The Federal Housing Administration (FHA) plans to impose significant restrictions on the amount of money that sellers can contribute at closing in the near future. The FHA also will be raising its mortgage insurance premiums during the coming weeks, increasing charges for new purchases across the board. Making sense of the story: One reason for …

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More Californians able to afford homes

Lower home prices and interest rates led to an increase in home affordability in the third quarter, the CALIFORNIA ASSOCIATION OF REALTORS® reported. Making sense of the story: The percentage of California households that could afford to purchase a median-priced home of $292,120 rose to 52 percent in the third quarter, up from 51 percent …

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Most homeowners still faring well, with positive equity

Nearly half of all owners with mortgages have at least 25% equity stakes in their properties, and about a quarter of owners with mortgages have more than 50% equity, a new study shows. Reporting from Washington—Negative equity and underwater homeowners are frequently in the headlines, but what about positive equity in Americans’ homes? Is there …

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Cash-only home sales on the rise

In California, the all-cash offer is king when it comes to luxury property now.   According to the Los Angeles Times, cash deals now account for roughly two-thirds of home sales in Southern California’s most expensive neighborhoods, with all-cash buyers having bought 30.9% of California houses and condos in January. . These current low prices have …

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