Many homeowners regret not refinancing earlier, survey finds



A large number of homeowners have expressed regret that they missed out on the 2020 refinancing wave, which saw many take advantage of record-low interest rates to reduce their monthly mortgage payments. A new survey from LendingTree found that 36% of homeowners who missed the chance to refinance say they regret not doing so. Many […]

FHFA launches new refinancing program for low-income homeowners



Low-income homeowners who may have missed out on last year’s refinancing boom are to be given a second chance, the Federal Housing Finance Agency has said. This week, the FHFA announced an upcoming program for low-income homeowners with government-backed mortgages to refinance at a lower rate in order to reduce the amount they have to […]

Freddie Mac says 4 million more homes needed to meet housing demand



Analysis by Freddie Mac has revealed that the U.S. needs almost 4 million more homes to be listed for sale in order to meet the current high level of demand. Freddie Mac said in its analysis that there’s a total shortfall of 3.8 million homes for sale in the U.S., a 52% increase in the […]

Some people are buying their second homes first



Although it may seem to be at odds with convention, a growing number of renters are buying second, vacation properties even before they purchase their primary residence. Real estate industry watchers say the trend is borne from the COVID-19 pandemic, and that with remote work now a permanent fixture of many people’s lives, they’re taking […]

It’s getting harder to be approved for a mortgage



Some buyers might struggle to gain approval for a home loan as lenders are starting to tighten their credit standards. The Mortgage Bankers Association said that mortgage credit availability, which is a measure of lender’s willingness to approve a home loan, is now at its lowest level since 2014. “Because mortgage credit is more difficult […]

Why a bridge loan can give buyers an advantage in bidding wars



Real estate shoppers who’re struggling to buy a home due to the intense competition in the market might want to consider using a bridge loan to give themselves an edge. A bridge loan enables buyers to fund their next home purchase before they sell their current home. It enables them to waive the sale of […]

Lennar announces $4 billion rental home venture



One of America’s biggest homebuilders is getting into the rental market at a time when it is growing rapidly. Lennar Corp., which has traditionally always built its homes with the intent of selling them, said last week it has created a new business called Upward America Venture, that will acquire hundreds of single-family homes and […]

People are buying golf homes again after years of declines



Home buyers are showing more interest in golf community homes again and it’s all thanks to the COVID-19 pandemic. In its 2021 Luxury Outlook report, Sotheby’s International Realty said that after five years of closures all around the U.S., golf courses are once again growing in popularity. Sotheby’s said that it saw a 26% increase […]

Cash-out refinancing hits highest level since 2008



So-called cash-out refinances are surging in popularity, hitting heights that haven’t been seen in over a decade, since the Great Recession of the 2000s. Economists say they’re not concerned by the trend though, as the housing market is still going strong and home prices are rising. During the Great Recession, cash-out refis grew at a […]

FHFA extends relaxed rules on employment verification and home appraisals



The relaxation of lending and appraisal standards for loans backed by Fannie Mae and Freddie Mac has been extended for another month, the Federal Housing Finance Agency announced last week. The FHFA put its eased standards in place due to the COVID-19 pandemic to help lenders and appraisers keep loans on track amid social distancing […]