Sumter, Fla., is the best place in the country for a borrower to get a mortgage, according to a new study by SmartAsset.SmartAsset’s study considered four factors to pinpoint the best places in the country to get a mortgage: overall borrowing costs, ease of securing a mortgage, affordable property taxes, and affordable annual mortgage payments.Borrowing costs were analyzed by factoring in expected costs over the first five years of a $200,000 m
The Hispanic demographic was the only ethnic demographic with an increase in the homeownership rate in 2016. The Hispanic homeownership rate rose from 45.6 percent in 2015 to 46 percent last year, according to the National Association of Hispanic Real Estate Professionals.Further, the Hispanic population added 330,000 households, leading in net household formations for 2016 too, according to Census Bureau data.“With credit remaining tight and l
Among 201 metro areas with populations of at least 200,000, 89 of those metros – or 44 percent – reached new all-time home price peaks in 2016, according to new data released by ATTOM Data Solutions.Notably, markets reaching new price highs included: Dallas-Fort Worth, Texas: $230,571 Houston, Texas: $214,795 Atlanta, Ga.: $181,000 Boston, Mass.: $390,000 San Francisco: $720,000Several Ohio markets – Dayton, Columbus, and Cincinnati – als
Some homeowners who sign up to have their homes redecorated and remodeled on a reality TV are having regrets. They say they got stuck paying thousands of dollars later on due to the TV renovations.Attorneys warn: You have to read the fine print before agreeing to these TV shows. On these reality decorating shows, homeowners aren’t often in complete control over what happens to their home. They may not like the design in the end. Further, to mee
Many studies show a pay gap exists between men and women, with women earning significantly less than men do. A new study compiled by PropertyShark and RENTCafe sought to find out how that gender gap in pay may affect single women’s buying power in the housing market in the 50 largest U.S. cities.You may find the most single-women buyers in the following cities, which were ranked as the most affordable for single women to buy a home: Detroit, Mi
America overall is a compassionate nation. In 2015, Americans donated more than $373 billion to charities, a record high, according to Giving USA.“The U.S. is a generous country,” says William Chopik, an assistant professor of psychology at the University of Michigan, who co-authored research about nations and empathy. “America is always coming to other countries’ aid whenever there’s a disaster. And hand in hand with that, we also ha
The prospect for growth in the housing market in 2017 remains solid, but that said, some anxiety may taper growth somewhat this year, according to Freddie Mac’s latest 2017 Outlook report on the housing market.“We must grapple with uncertainty about fiscal policy, foreign investments in U.S. real estate, and the size of the mortgage market,” says Sean Becketti, Freddie Mac’s chief economist. “Among the many uncertainties we highlighted,
Frigid temperatures and treacherous winter weather are here to stay a little while longer, since the groundhog Punxsutawney Phil saw his shadow this morning, signaling six more weeks of winter.This weather prediction may even bring more deals for buyers wanting to kickstart their home search. Typically winter months have a higher number of housing bargains due to stressful weather conditions and lack of competition, with February coming out on to
Many cities are facing an affordability crisis when it comes to renting. In some places, renters are faced with paying more than 50 percent of their income to housing. And the problem stands to get much worse, according to AppFolio, a cloud-based property management software company. By 2025, about 16 million people in the U.S. will be considered rent-burdened, the firm says.AppFolio culled data from Axiometrics, an independent rental research fi
Confusion over down payment requirements is hindering some consumers’ confidence about buying a home.For the past three years, the median down payment for first-time buyers has been 6 percent and 14 percent for repeat buyers, according to the National Association of REALTORS®’ Profile of Home Buyers and Sellers. Yet, when consumers are asked about the down payment amount they need to buy, 87 percent of non-owners say that a down payment of 1
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
