What Homeowners Need to Know Before Refinancing
With mortgage rates hovering near three percent, experts say there are still a number of homeowners who could benefit from refinancing. In fact, borrowers who refinanced in 2020 to lower their mortgage rate saved over $2,800 in mortgage payments annually, according to the latest Freddie Mac research.
Hot housing market fuels a rise in homeowners’ equity
The red-hot U.S. housing market is paying off for many homeowners, even those who aren’t looking to sell their home. On average, homes with a mortgage gained $26,300 in equity in the last three months of 2020 versus a year earlier, according to real estate information company CoreLogic. That average gain is the highest since 2013, the firm said. CoreLogic said homes with a mortgage account for about 62% of all U.S. properties. Taken together, the home equity for those properties surged to more than $1.5 trillion, an increase of 16.2% from a year earlier. T
Renovating Your Home? How to Protect Your Investment
The increased time spent at home during the pandemic has resulted in many people deciding to tackle home renovation projects. From creating a new office space or virtual learning area, to larger projects like bathroom renovations, many homeowners are rolling up their sleeves to do the improvements themselves. And the trend doesn’t seem to be slowing down.
California REALTORS® Unveil Fair Housing and Equity Legislative Package to Address Housing Barriers Facing Communities of Color
The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today unveiled a Fair Housing and Equity legislative package designed to help address ongoing fair housing and equity issues that persist, especially for communities of color. The package is part of C.A.R.’s Californians Need Housing Now initiative, which urges the Legislature to enact policies that address California’s worsening housing affordability and availability crisis with increased housing supply and fair housing reforms.
Rewards Program Adds Perks to Home Buying
The COVID-19 pandemic and historically low mortgage interest rates have caused a flurry of home buying across the United States. Families are searching for more flexible work or learning spaces, larger homes and spacious yards for cooped up kids. For those just getting started, an Arizona-based real estate rewards and referral network company, RBN (Real Buyer Network), offers homebuyers added value to their purchase through its relationship with American Express.
