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Pending Home Sales Rise in July

More Americans signed contracts to purchase homes in July, a sign that demand for home ownership remains strong. The National Association of Realtors said Wednesday that its seasonally adjusted pending home sales index rose 1.3 percent in July to 111.3 ( up 1.3 percent from a year ago). The number of signed contracts improved in…

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Housing Forecast 2nd Half of 2016

Mortgage rates could reach all-time lows. Fitch Ratings expects U.S. mortgage rates to reach all-time lows following the United Kingdom’s vote to leave the European Union. New construction remains slow. In May, groundbreakings stood at an annual rate of 1.138 million, below the 1.5 million needed to get supply back in line with demand. Mst…

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Summer Mortgage and Sales Update

Rates have inched back down this week. Janet Yellen, the Chairman of the Federal Reserve Board, in a speech on Monday, hinted that the economy is improving but the timing is unclear for a rate hike, playing down the possibility that the next increase will be this month. These remarks along with the disappointing May…

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How Long to Keep Tax Records and Other Documents

Tax season is the perfect time to start culling your paper piles and computer files and getting everything in order. If you’re meeting with a financial adviser or an attorney, you don’t want to spend hours wading through clutter to find the documents you need. If there’s a fire, flood, or theft, you’ll need access…

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Interest Rates Still Low

You have 3 options while the interest rates remain below 4%, depending on whether you are considering a purchase, a move, or just staying put. 1. Now is still the time to purchase before another buying season erupts, with increasing prices and added competition heating the market. Rates remain low, and inventory, though still scarce,…

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6 Things to Know About the 2016 Market

Whether you’re looking to buy a home this year or already own one, there are important factors that will affect your investment. Here are the six important things you need to know about the housing market in 2016. 1. Mortgage Rates Are Staying Low (For Now!) The Fed’s December 2015 interest rate hike had many…

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Existing Home Sales Rebound in Aftermath of TRID Implementation

The immediate impact of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosures (TRID) rule in October is quickly coming to light as existing-home sales bounce back after November’s steep drop. According to the latest report from the National Association of Realtors, more buyers reached the market before the end of the year, and the delayed closings due to…

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U.S. Values and Rents Continue Rise

Home values and rental prices are steadily rising, fueled by strong demand and a tight supply of available properties, a pair of reports recently showed. The solid demand drove sales growth early this year and spurred additional construction. The Standard & Poor’s/Case-Shiller 20-city home price index climbed 5.1 percent in the 12 months that ended…

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Feds Waiting Until October to Raise Rates?

Though Federal Reserve policymakers, worried that global financial market volatility could dampen the U.S. economy, did not raise the interest rates last week, they have begun laying the groundwork for a possible interest rate increase in October. Two voting members of the Federal Open Market Committee, which sets monetary policy, said they were close to approving…

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Summer Heats Up Home Sales

Home sales are soaring this summer, despite limited supply across many areas of the country. Sales of previously owned U.S. homes climbed 3.2 percent to an eight-year high in June according to the National Association of REALTORS®. In addition, existing home prices rose 6.5 percent over last year because of limited supply. U.S. markets and…

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