Mortgage rates hit highest levels in more than 2 years

Interest rates on U.S. fixed-rate mortgages rose to their highest levels in more than two years, sending weekly home loan application activity to its weakest since early January, Mortgage Bankers Association data released on Wednesday showed. The Washington-based industry group said 30-year fixed-rate conforming mortgages averaged 4.27 percent, the highest level since October 2014. The…

The No. 1 Biggest Change For Housing In 2016

When you analyze the housing market at the end of a year, you can often spot trends — and 2016 definitely had a big one: a lack of inventory, or supply, of homes for sale. Once you couple low inventory with strong buyer demand, which we also saw in 2016, you’ll probably see home prices…

5 reasons to shop for a home in December

It’s counterintuitive, but December can be an excellent time to find a home. That’s particularly true for buyers sick of losing out to others in the busier homebuying months. Federal Reserve data show that most home sales take place in June, July and August. If summer is the peak, winter is the bottom of the yearly real-estate market. It…

6 Things You Need to Know About PMI

If you’re wanting to purchase or refinance a home with a conventional loan, there are many factors to consider. And if your down payment or home equity is less than 20 percent of the home’s value, it’s important to understand what private mortgage insurance is. PMI might help you get a loan you wouldn’t normally…

Renting Could Cost You More Upfront Than Buying

Landlords Charging More Than Lenders? Through most of history, it has cost more upfront to buy than to rent. There’s the initial downpayment, and closing costs can be expensive, too. But a reversal is underway. Rents and move-in charges are rising, while downpayments are dropping. Today, your landlord may charge you more to move in…