When house hunting, the price of homeowners insurance probably isn’t top of mind. But homes with hidden risks can make getting coverage difficult, expensive or both. Learning how to identify them could save you a bundle. This could be a particularly important concern for first-time homebuyers and those moving from cities to suburban or rural…
Many of us are spending more time at home in 2020, which could mean having more time to take on home improvement projects. But home renovations aren’t just a way to fill time; you want the results to be worth the hard work. The key to any successful project lies in careful planning — including…
Shopping for your first house is stressful enough, but when you’re finally ready to be a homeowner and the pickings are slim, the process can become a roller-coaster ride of hope and fear. “Buyers walk in a home and say, ‘This is it!’ Then, they see all the business cards [from other agents] on the…
In December 2019, I described 10 housing and mortgage trends to watch for in 2020. But “deadly pandemic” was missing from my bingo card. Some of the trends I predicted are irrelevant now because COVID-19 disrupted the economy. Time for a midyear update. In a world altered by the pandemic, here are trends that mortgage…
Summer is the priciest time to buy a home, but cost isn’t the only challenge home buyers are facing in 2020. An uncertain economy and social distancing measures, both the result of the pandemic, have upended homebuying plans for some and changed the process for everyone. “Demand for homes was high before the COVID crisis,…
July mortgage rates forecast The interest rate on the 30-year fixed-rate mortgage remained near record lows in June and is likely to stay there in July. The 30-year fixed averaged 3.33% APR in the first four weeks of June, a smidgen lower than the 3.37% average APR in May and 3.36% in April. June’s rate…
As you browse homes for sale online, digital slideshows dish out equal helpings of information and frustration. Every photo frames what the seller wants you to see. Want to shift your gaze to the right and inspect that shower head? Tough. But now you can virtually walk inside a home and look up, down, left…
Homes in major metropolitan areas were difficult to find and largely priced out of reach for first-time buyers in the first quarter of 2020. In 20 of the 50 largest U.S. metros, list prices were more than five times the median first-time home buyer income in January through March. Moreover, the number of active listings…
May mortgage rates forecast Mortgage rates are likely to stay near historical lows in May and for a long time after, if the Federal Reserve gets its way. The Fed has succeeded so far in what it set out to do at the start of the COVID-19 crisis: push mortgage rates down and keep them…
A traditional real-estate closing begins with a bunch of people passing pens and papers around a table. It ends with a round of amiable handshakes. During the coronavirus pandemic, however, the customary mortgage closing seems hazardous. Electronic closings, or e-closings, may be a partial solution as buyers and sellers attempt to navigate social-distancing guidelines. Most…
