Coldwell Banker American Homes Blog
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1
Mortgage Rates Bottom to New Low
Mortgage rates this week bottomed to a new low for the year, with the 30-year, fixed rate averaging 3.94 percent, according to Freddie Mac's recently released Primary Mortgage Market Survey® (PMMS®). The 15-year, fixed rate, at the same time, averaged 3.19 percent, while the 5-year, Treasury-indexed hybrid adjustable rate averaged 3.11 percent.
[caption id="attachment_10457" align="aligncenter" width="550"]
modern yellow detached house in the suburbs[/caption]
"In a short week following Memorial Day, the 10-year Treasury yield fell four basis points," says Sean Beckett, chief economist at Freddie Mac. "The 30-year mortgage rate remained relatively flat, falling one basis point to 3.94 percent and once again hitting a new 2017 low."
Source: Freddie Ma...
12
The Best Is Yet to Come for Homebuyers
It's a seller's market out there, and for homebuyers, the struggle this spring is real: few affordable options, and price growth that just won't quit.
Another issue's working against them, too: timing.
According to a recent analysis by Zillow, the best time for buyers isn't spring, but summer—the end of summer, that is. Why? There's more supply as the season winds down, specifically in August, and sellers who weren't so lucky earlier on become anxious to unload, cutting prices before the weather changes and the school year starts.
In the analysis, August had more listings than any other month (8,000 more in L.A., for instance), and saw the highest share of listings with lowered prices. Comparing reductions over the spring and summer months:
28
The No. 1 Obstacle for Would-Be Homeowners
For all the hurdles to homeownership, one obstacle is stubbornly more insurmountable than the rest: the down payment.
Renters are having trouble stacking up the savings to place a down payment on a home, according to the recently released Zillow® Housing Aspirations Report (ZHAR). Seventy percent of renters surveyed in the report say the down payment is more of a hindrance than debt (cited by 50 percent of those surveyed), job security (38.5 percent) and qualifying for a mortgage (53.2 percent)—though those aspects are barriers, as well. Low supply was a roadblock for just 11.2 percent of those surveyed.
"With home values close to record highs, it's no surprise renters are concerned about coming up with enough money to buy a home," says D...
20
5 Things to Check Before Moving In
Buying a new house is an exciting process that marks a new chapter in life. For many people, it's fun to shop around and tour different properties. When you're serious about purchasing a home, there are a few important parts of the property to check before you move in.
The Neighborhood
You should feel comfortable with the quality of the neighborhood, which will influence the value of your home. Look at the condition of the other homes and check to see if people are loitering at different times of the day. The house should also be in proximity to your job, or nearby schools if you have children. Some individuals who don't have a family may want to purchase a home in a good school district due to the impact that it'll h...
8
Navigating the Home-Buying Process: 5 Tips
Buying a home for the first time can be complex and daunting, especially in a competitive housing market. A new book, "My First Home: A Step-by-Step Guide to Achieving the Ultimate American Dream," aims to help first-time buyers navigate the process.
Below are five tips from author Shashank Shekhar, a blogger, media source and radio and television personality: