Two major indicators of home price trends showed a slowing momentum for home prices in December. The S&P Case Shiller 10 and 20 city indices reported that of 20 cities tracked, home prices were lower in December than for November.
While homeowners typically equate the FHA loan program with low-down payment mortgages, FHA refinances are also available.
Sales of existing homes fell by 5.10 percent in January according to the National Association of REALTORS. Pre-owned home sales slowed to a seasonally-adjusted annual rate of 4.62 million homes against an expected reading of 4.65 million and Decemberâs reading of 4.87 million existing homes sold.
Last weekâs economic data supported recent reports indicating that housing markets are slowing, The National Association of Home builders/Wells Fargo Home Builders Index (HBI) dropped by 10 points to a reading of 46 for February.
Home equity is the difference between what your home can sell for and what you owe on it. Generally, the longer you own your home, the more equity you build.
Before an owner can market a property to buyers that want to use a FHA loan, he will want to familiarize himself with the FHA’s standards. FHA won’t insure loans on just any property.
While their standards aren’t as stringent as they used to be, a home needs to be in relatively good condition to qualify for FHA financing.
When you are purchasing a home, your broker may recommend you obtain a mortgage pre-approval before you find the home of your dreams.
Last week’s economic news was dominated by the first address by the new Fed chairperson, Janet Yellen.
Tuesday’s news included the Jobs Openings report for December 2013, which matched November’s reading of 4.0 million jobs available.
In your imagination it seems like a great idea â you purchase an older run-down property and you have the chance to fix it up and turn it into the home of your dreams.
Oftentimes, when you are searching for a new home, it may seem obtaining a pre-approval for your mortgage loan is a waste of time and energy.