Rising college costs are causing some parents to consider an alternate housing plan for their students: Theyâre bypassing the dorm and off-campus apartments in favor of purchasing a condominium or single-family home.
Weekly mortgage applications rise for the first time in three weeks, the Mortgage Bankers Association says Wednesday.
Mortgage rates fell Monday on news of a Treasury-led bailout of mortgage giants Fannie and Freddie Mac, but observers warned not to expect lower borrowing costs to suddenly revive the troubled housing market.
In a sign that the U.S. housing market may weaken in coming months, an index of sales contracts on previously owned U.S. homes fell 3.2% in July from the prior month, the National Association of Realtors reported Tuesday.
Foreclosure inventories keep rising, causing many people to suggest this is a great time to invest in these properties. But donât dive in just yet.
Some investors are seeing huge opportunities in the growing inventory of distressed properties and foreclosures, so huge that theyâre using retirement funds to buy real estate or even make mortgage loans.
The government takeover of mortgage giants Fannie Mae and Freddie Mac has pushed mortgage rates lower, a boon for some home buyers and homeowners seeking to refinance, but it is not automatically going to make home loans easier to obtain.
Home, for millions of Americans, is not only where the heart is. Itâs increasingly where the retirement account is, too. Yes, home equity, along with IRAs, 401s and Social Security is viewed as one of the most important sources of retirement income to millions of homeowners.
Even as Washington debates a massive rescue plan to cure the housing marketâs ills, the government issues data that show U.S. home values declined by 0.6% in July from June and by 5.3% from July 2007.
Washington bargaining on the bailout package presses ahead, as House Republicans return to the negotiating table and lawmakers said theyâll put off a scheduled recess to complete work on the $700 billion package.