Many buyers exceed their "budget" when buying a home. According to a recent survey by Owners.com a real estate brokerage (as published by FloridaRealtors), 38 % of homebuyers exceeded their spending limits. This is up from a year ago. Thirty nine percent of Gen XERS exceeded their budget by $35, 000 on average, 46% of [...]
In January United States home prices rose at the slowest rate in six years. The increase was 3.6% in January from a year before. This helps make homes more affordable. Additionally mortgage interest rates have also fallen since January.
According to an article appearing in Florida Realtors, the State of Florida ranks about in the middle of states in the amount of property taxes paid. Hawaiian property owners pay the lowest property taxes and New Jersey property owners pay the highest.
Millenials account for about 42% of all new home loans according to an article that appeared in Florida Realtors. This is a higher percentage than Baby Boomers and Generation X’ers. The median purchase price of homes by Millenials is $238,000, for Generation X’ers it is $289,000 and for Baby Boomers it is $264,000. The average [...]
Only 3.88% of U.S. Mortgage Loans were delinquent at the end of December 2018 according to an article appearing in the Jacksonville Daily Record. This is the lowest rate since 2000. Delinquent loans are those that are more than 30 days past due, but not yet in foreclosure. Florida’s levels of delinquencies is a little [...]
About 40 million Americans have no credit score. According to an article appearing in Florida Realtors, about 16.7% of credit-aged people do not have any credit score. These people would not meet the basic requirements for automated underwriting for a mortgage loan and other loans. They could be turned down or pay a higher interest [...]
According to an article entitled “More Buyers Turning to ARMs to Achieve Ownership” in the Mortgage Daily News as published by Florida Realtors, approximately 1/10th of borrowers are choosing an adjustable rate mortgage now. This is the largest percentage since 2011. The average rate for the first five years on an adjustable rate loan that [...]
The Wall Street Journal reported on September 6, 2018 that the top mortgage lenders, by originations, for the first half of 2018 are Wells Fargo, JPMorgan Chase, Quicken Loans, PennyMac, Bank of America, U.S. Bank, Caliber, United Wholesale, AmeriHome, loan Depot and Freedom Mortgage. Interestingly, non bank lenders accounted for 52% of all these mortgage [...]
According to an article appearing in the Florida Realtor publication on August 16th, Jacksonville is near the top of the “likely to move” list of cities of Florida. This was based on information from ATTOM Data Solutions’ second quarter 2018 Pre-Mover Housing Index. The top cities nationally were Chicago, Washington D.C., Orlando and Atlanta. Jacksonville [...]