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March 2017

Found 8 blog entries for March 2017.

Pending home sales spiked 5.5% month over month in February to their highest level in almost a year and the second-highest in almost a decade, according to the National Association of Realtors.


NAR’s Pending Home Sales Index hit 112.3 in February, up from 106.4 in January. Year-over-year, February’s index was higher by 2.6%, its highest level since April 2016 with 113.6 and second-highest since May 2006 with 112.5.

"Buyers came back in force last month as a modest, seasonal uptick in listings were enough to fuel an increase in contract signings throughout the country," said NAR Chief Economist Lawrence Yun. "The stock market's continued rise and steady hiring in most markets is spurring significant interest in buying, as well as the

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by Anna Sobrevinas   29 Mar 2017


January marked 31 months of home price gains as it saw a 5.9% annual gain, compared with a 5.7% annual gain the month before, according to new data from S&P CoreLogic Case-Shiller.

Year-over-year, the index’s 10-city Composite saw a 5.1% annual increase, up from 4.8% from the month prior, and the 20-City Composite recorded an annual increase of 5.7%, up from 5.5% from the previous month.

Seattle ranked first in January with a year-over-year home price increase of 11.3%, followed by Portland with 9.7% and Denver with 9.2%.

"Housing and home prices continue on a generally positive upward trend," said David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices.

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Refinancing can be a very effective way to save money -- just be sure to go about the process in an informed manner, making sound choices along the way. These seven tips can help.

Interest rates are starting to inch up, with many expecting the Fed to raise rates a little more later this month. A recent strong jobs report is only making that more likely. If you have thought about refinancing your mortgage, you might want to think hard about it now, and perhaps lock in a low rate if you're serious.

Refinancing is taking on a new home loan to pay off your old home loan. The new mortgage can have different features, such as a longer or shorter term, and it can lower your monthly payments, too.

Beef up your credit score

Before you

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Consumer confidence in housing is at an all-time high, with millennials posting strong increases in confidence, according to new data from Fannie Mae.

The Fannie Mae Home Purchase Sentiment Index (HSPI) spiked by 5.6 percentage points last month to 88.3, the highest it’s been since Fannie started keeping records. Five of the HPSI’s six components were up, with three hitting all-time highs.

The net share of Americans who believe that now is a good time to buy a home spiked by 11 percentage points, while the share who believe it’s a good time to sell rose seven percentage points. The share of Americans who report a significant increase in their household income rose by four percentage points. Consumers were also more confident about keeping…
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January proved to be a good start for the new year, as housing demand rose by 6.5%, according to Redfin.

The company’s housing demand index reached a seasonally adjusted level of 130 last month, the highest since Redfin started tracking demand in January 2013.

Year-over-year, buyer demand rose by 22.9%; tour requests increased by 25.9%; and buyers who made offers went up by 18%. However, homebuyers saw 13.4% fewer home listings, only 4% of which were new homes.

Month-over-month, homebuyers who requested for tours rose by 3.2%, while buyers who were making offers went up by 13%.

“Soaring stock markets, still-low mortgage rates and a steady economy bolstered homebuyers at the start of 2017,” said Redfin Chief Economist Nela Richardson. “Homebuyers were not just

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When the housing crisis hit in late 2009 and 2010, credit tightened as a natural response. Although the market has largely recovered, financing has remained difficult for borrowers with credit scores below a certain threshold. 

According to the January 2017 Ellie Mae Origination Insight Report, 69% of all closed loans had FICO scores over 700. In fact, borrowers with FICO scores between 750 and 799 represented the largest share of closed loans in January for purchase, refinance and conventional loan categories.

Because borrowers with lower credit scores are still having difficulty securing financing, there’s a significant amount of pent-up demand. Many lenders are reluctant to work with lower credit scores, leading many potential homebuyers to believe

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Part of the process of deciding whether to refinance your mortgage is figuring out when you would break even. Without knowing that, you may be shocked to learn that it could be years before you start saving money.

Look, this isn’t going to require IBM’s Watson to calculate. In fact, you just took an important first step: Simply thinking about a break-even point puts you ahead of the game.

Consider the reason you’re refinancing

Your break-even point is how long it will take to actually save money — considering the time it will take to recoup all of the costs of a new loan.

“The simple calculation for your break-even point is calculating the fees and the closing costs and dividing those by the savings,” says Jared Maxwell, vice

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Owning a home is exciting, challenging and the biggest investment of many people’s lives. It’s also a good way to reduce your tax bill.

Home-related tax breaks begin as soon as you close on your new abode and last throughout your time in the house. But to maximize them, you need to follow some rules.

A home isn’t just a house

American homeowners own a variety of types of homes — and the federal Internal Revenue Code recognizes this.

When it comes to tax breaks, your home can be a house, a condominium, a co-op apartment, a mobile home or even a recreational vehicle or boat. As long as it has sleeping, cooking and bathroom facilities, the IRS will allow you to claim several home-related expenses.

Itemizing deductions is the key to saving

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