It took just 54 days to sell a home in September. That is the shortest time since realtor.com began tracking this metric in 2016. Back then it took 78 days. The median price of a home sold in September was $350,000, up just over 11% annually. Homebuyers hoping that a seasonal slowdown in the housing market would dampen rising prices can forget about it. More buyers piled into the fray in...
Refinancing a mortgage is about to get more expensive — potentially reshaping the math for millions of borrowers looking for savings amid a historic boom for home loans. On Wednesday night, mortgage purchasers Fannie Mae and Freddie Mac, informed lenders that, starting in about two weeks, they will be adding a 0.5% fee when buying refinance mortgages. Known as an Adverse Market Refinance Fee, the...
In times of uncertainty, one of the best things we can do to ease our fears is to educate ourselves with research, facts, and data. Digging into past experiences by reviewing historical trends and understanding the peaks and valleys of what’s come before us is one of the many ways we can confidently evaluate any situation. With concerns of a global recession on everyone’s minds today, it’s important...
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