All baby boomers will be age 65 and above by 2029, according to the U.S. Census Bureau. At that point, more than 20 percent of the U.S. population will be over the traditional retirement age.If you’re helping clients make decisions about homes that will meet their needs as they age, Hy-Lite, a U.S. Block Windows Company, has three suggestions for windows that will be suitable for homeowners aging in place.Easy-to-operate windows. Easy-to-open
Mortgage rates took a slight breather this week as borrowing costs moved lower and offset last week’s uptick.Still, the housing market is trying to adjust to rates that are much higher than a year ago. “While higher mortgage rates have led to a decline in home sales this year, the weakness has been concentrated in expensive segments versus entry-level and first-time buyer [segments], which remain firm throughout most of the rest of the countr
Rising home prices over the last few years have helped homeowners gain more equity in their homes. In the third quarter of 2018, homeowners sold for an average of $61,232 more than their original purchase price—the highest average home seller price gain since 2007, according to a newly released report from ATTOM Data Solutions. That marks a 32 percent return on the original purchase price, just shy of the recent peak set in the fourth quarter o
The average down payment for a home is decreasing, which could be good news for those looking to buy. Prospective buyers may need to save less money for a down payment, according to a new study by LendingTree.The average down payment amount for U.S. homes dropped in the third quarter by nearly 10 percent, falling from $52,480 to $47,265, the study shows. However, the overall average down payment percentages for conventional 30-year, fixed-rate
Housing affordability is worsening due to higher mortgage rates, which is prompting a slowdown for what home sellers are able to get for their home. The U.S. median home price rose 4.8 percent in the third quarter, the slowest rate of annual appreciation since the second quarter of 2016, according to a new report released by ATTOM Data Solutions, a real estate data firm.“The continued slowdown in the rate of home price appreciation nationwide
Wells Fargo is back on top with the most mortgage originations in 2017, according to new rankings released by iEmergent, an advisory firm for the mortgage industry. iEmergent ranked mortgage originators based on loan volume for 2017 for single-family homes (the list does not factor in manufactured homes, multifamily, home improvement loans, or repurchases).The following eight mortgage lenders had the highest total volume of loans originated in 20
Issues related to drone usage, imagery copyright, and mold are putting homeowner associations at increased risk of litigation, according to national insurer USI Insurance Services.Some residents have sued their condo boards for using drones to snap photos of buildings that also capture interior views of their units through the windows. Community associations may use drones to collect information on the conditions of roofs and common grounds, but
Borrowers were faced with rising mortgage rates again this week, after a slight pause from increases the week before.“Despite volatility in the stock market, the 30-year fixed-rate mortgage inched forward just 1 basis point to 4.86 percent this week,” says Sam Khater, Freddie Mac’s chief economist. “We expect rates to continue to rise, which will put downward pressure on homebuying activity. While higher borrowing costs will keep some peo
Financial experts are growing concerned by how millennials’ lack of homeownership will impact them financially when they retire."Homeownership is one of the touchstones of being prepared for retirement," Tamera Sims, a research scientist at the Stanford Center on Longevity, told CNBC. "Buying a home at age 50 or 60 isn't going to do you much good in funding a 30-year retirement."But young adults are “not able to hit the [housing] market at t
Home prices are showing some signs of cooling, but in a handful of markets, some homeowners likely won’t notice much. That’s because homeowners who have owned their home since before the recession have seen their home prices jump by 50 percent—even up to 80 percent.Median home prices are above pre-recession levels in 69 percent—or 103--of the 150 metro areas tracked, according to a new report from ATTOM Data Solutions. Median home prices
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