News

Financial Advisors Warn Against Reverse Mortgages

Reverse mortgages can make a lot of sense for many people. They allow homeowners to borrow money against the value of their homes, and the funds don’t need to be repaid until the individuals move. Financial advisors, however, continue to

Millennials Not Buying, But Would Like To

Millennials – the generation of adults currently between the ages of 18 and 34 – are purchasing homes at a much lower rate than previous generations. A new study, however, shows that although they are not buying now, they would

Experts: Lock Now, As Mortgage Rates Back Down

Mortgage rates are back in line with recent lows and averaging out at 4.125%, Mortgage News Daily is reporting. Experts advise locking in on a rate now. “I’m cautiously optimistic that we are about to break back into the long

Nearly 1 Million Homeowners Experienced Equity Gains in Second Quarter

In the second quarter of 2012, as many as 950,000 homes saw a positive equity gain. This puts homeowner equity $1 trillion ahead of where it was at this time last year. “Many homeowners across the country are seeing the

Reese Witherspoon Sells L.A. Home for $550K Profit

Hollywood actress Reese Witherspoon has just sold one of her Los Angeles properties for $3.55 million, which nets her a profit of $550,000 over the $3M price tag she paid for it two years ago. According to Trulia, the three-bedroom,

Jumbo Mortgages Getting Cheaper and Easier

In recent months, it has become cheaper and easier for individuals to take out jumbo mortgages – loans of $417,000 or more (or $625,000-plus in more expensive markets). Whereas a 20% down payment and a 700 credit score used to

Jake Gyllenhaal’s Hollywood Home on the Market for $3.5 Million

Jake Gyllenhaal has just listed his three bedroom, three bathroom Hollywood Hills home for $3.5 million. If the home sells for the asking price, Gyllenhaal would make a profit of $1 million after purchasing it in 2005 for $2.5 million.

On Tap: Lowered Credit Standards, Lesser Demand for Mortgages

In the most recent Mortgage Lender Sentiment Survey conducted by Fannie Mae, the lending company found that attitudes are changing in the areas of credit standards and mortgage demand. According to Mortgage News Daily, large lenders are set to ease

Multi-Family Housing Leads the Way

As growing numbers of Americans come to realize that homeownership is not for them, construction rates for multifamily rental unites continue to soar. “There’s been a fairly compelling recovery in multifamily construction because people need apartments to live in,” said Ward

Builder Confidence Continues to Rise

According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), builder confidence is at a nine-year high. The composite measure jumped four points to 59 in the month from August to September. “Since early summer, builders

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