Homeowners continue to build wealth. Home price growth is reaching the highest level in more than four decades, pushing equity gains to a record high.The average home equity gained between the third quarter of 2020 and the third quarter of 2021 is about $57,000, CoreLogic reports.“Not only have equity gains helped homeowners more seamlessly transition out of forbearance and avoid a distressed sale, but they’ve also enabled many to continue bu
For the last four consecutive weeks, mortgage rates have generally held stable. But that could soon change, with inflation, action from the Federal Reserve possibly quickening its pace to taper its bond purchases, and other financial activity triggered by the ongoing pandemic all playing a role, economists say.“Mortgage rates have moved sideways over the last several weeks, fluctuating within a narrow range,” says Sam Khater, Freddie Mac’s
Women are second only to married couples as a homebuying presence in the real estate market, according to the National Association of REALTORS®. Currently, 19% of the homebuying market are single women, while 9% are single men and 60% are married couples, according to NAR.Single women and single men show a high desire to own a home of their own, but single women outnumber men by about a 2-1 ratio. While a roughly equivalent percentage of men and
Many paint firms have selected a green hue for their 2022 top color pick, but Pantone is making a much bolder choice. Could this be another hot color for home interiors in the new year?The 2022 Pantone color of the year is Very Peri, a periwinkle blue with violet-red undertones. The color was created by Pantone specifically as the color of the year. The bright color is intended to evoke comfort and courage in unpredictable times, Pantone says.The
Expect the nation’s hottest markets next year to be centered largely in tech hubs in the Midwest and Mountain states, which offer affordable alternatives to pricier coastal regions. Realtor.com® recently released its forecast of the top-performing markets for 2022. “Our top housing markets are attracting remote-minded workers, possibly interested in snagging a big-city salary while still enjoying the quality of life that these generally smal
Members of Gen Z, who span ages up to 24, are already starting to make their entrance into real estate. But buying a home has become especially pricey over the past year. Home prices were up 13% in October compared to a year ago, according to the National Association of REALTORS®.So, which locales may offer Gen Z the best chances to buy a home of their own? Living Cozy, a furniture and homeware resource, analyzed the median property value in eac
What makes for a happy state? Health, income, work-life balance, environment, housing, and plenty of sleep. Researchers with Amerisleep analyzed 17 factors that they believe contribute to happiness among the 50 states to find the happiest residents of all.“This data paints a fascinating picture of happiness across the U.S.,” says April Mayer, a spokesperson with Amerisleep. “The study analyzed a large array of factors, from sleep levels and
The national median down payment hit its highest level since at least 2005, ATTOM Data Solutions reports. The median down payment on a single-family home purchased with financing in the third quarter was $27,500. That is up 41% from $19,502 in the third quarter of 2020.Overall, the median down payment of $27,500 represented 8% of the national median sales price for homes purchased with financing in the third quarter, up from 6.5% a year earlier.D
Pandemic-related mortgage forbearance programs are expiring, but hundreds of thousands of homeowners continue to struggle with payments. When loan modifications still don’t help, owners may find themselves at risk of foreclosure. But selling the home, which is likely to have accumulated a lot of equity over the past year, may be a much better option.However, it’s an option that may be getting overlooked. After all, nearly a third of borrowers
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