Mortgage And Real Estate News This Week
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Refinancing is still a crucial part of the mortgage news cycle, but there are other important things too. With the end of summer approaching, here’s what you need to know. (And no, cooler temperatures don’t promise a significantly cooler housing market. We’re sorry.)
1. Why are you (yes, you) still waiting for refinancing?
Bankrate’s most recent poll shows that 74 percent of Americans have opted out of refinancing, missing out on savings of $ 250 a month or more. As interest rates rise, the savings opportunities decrease. Don’t miss out and leave money on the table. Consider refinancing while interest rates remain historically low.
Read the story.
2. Companies try to make the housing market fairer
The gap between black and white home ownership rates is persistent, but companies from Wall Street giants like JPMorgan Chase to small startups are all working to give minority buyers a boost. Bankrate has looked at some of the ongoing efforts.
Read the story.
3. Technology is coming for home staging
Historically, difficult real estate offers have benefited from physical staging: bringing in fancy furniture and generally good-looking art. Real life staging can be prohibitively expensive, but as photo editing features keep getting better, more and more home sellers are finding they can retouch their property without breaking the bank.
Read the story.
4. Why You Should Consider Buying a Place for Your College Child
College is expensive, and room and board can be significant costs in addition to tuition fees. In response, more and more parents are using their children’s college days as an opportunity to invest in real estate. Instead of giving money to a school, they buy real estate in university towns and put the money that would otherwise be spent on room and board into a mortgage.
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5. Mortgage rates have fallen again
We’re back to where we started with another gentle reminder that now is a good time to refinance. Mortgage rates have fallen this week, which means it’s a small decision for more homeowners.
Read the story.