Buying a house is an exhilarating stage in life. A home to call your own. Many people who today are homeowners would not have been able to get to the point of buying their house without the advantage of a cosigner. According to Forbes, one in six adults have cosigned on a loan at some…
Family Real Estate Matters Require Written Agreements
Dear Monty: I live in a two-family house that my sister and I inherited. It was free and clear of a mortgage. A few years back, my sister wanted out and wanted her half of the value, so I needed to take a mortgage on the house to pay her. At the time, I could…
Analysis: The State of the Commercial Real Estate Industry
On Feb. 13, the Mortgage Bankers Association (MBA) will kick off its annual Commercial Real Estate Finance (CREF) conference, one of the most important trade events within the commercial property industry. Ahead of the event, Benzinga spoke with Mike Flood, MBA’s senior vice president of commercial/multifamily policy and member engagement, about the trends and issues shaping the…
Mortgage Rates Tick up but Remain Low in Final Days of 2021
SILVER SPRING, Md.—Average long-term U.S. mortgage rates moved slightly higher in the final week of 2021. Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark, 30-year home loan ticked up to 3.11 percent this week from 3.05 percent last week. A year ago, the 30-year rate stood at 2.67 percent. The…
California to Pay Homeowners $80,000 for Lagging Mortgage Payments
December 21, 2021
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California HomeownersGov. Gavin NewsomLocal NewsmortgageRegional NewsRegional-Local NewsSouthern CaliforniaUS
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The U.S. Department of Treasury approved California’s plan to provide $1 billion in mortgage payments for tens of thousands of struggling homeowners, the state announced Dec. 20. Called the California Mortgage Relief Program—the largest of its kind in the nation—the program offers up to $80,000 per household for past due housing payments for homeowners financially…
Why Did Rocket Companies Buy Truebill for $1.3 Billion?
Rocket Companies Inc. announced Monday it will buy the personal finance app Truebill for $1.275 billion in cash. “This allows us to complete this important component of our platform,” Rocket Companies CEO Jay Farner said on CNBC’s “Squawk On The Street.” Truebill will allow Rocket Companies to keep people engaged with the company’s funnel even when they are not in…
Better.com CEO Fires 900 Employees in Zoom Call Weeks Before Christmas
The CEO of Better.com, an online mortgage lender, fired 900 of his employees in a Zoom call just weeks before Christmas citing a “change in the market.” Video of the Zoom call was shared on social media and shows Vishal Garg, the executive, sitting behind a desk as he prepares to deliver the news to his employees. The Epoch…
Nearly 1 in 5 American Homes Bought by Investors in Last Quarter Sales
November 16, 2021
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Business & EconomyBusinesses in COVID-19Economieseconomyhome ownershiphome pricesinflationInvestmentMarketsmortgagereal estaterentUS
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Almost 1 in every 5 American homes sold in the third quarter of this year was bought by an investor entity rather than an individual looking to live in or rent out the home, according to data from Redfin, a brokerage. Investors snatched up more than 90,000 houses totaling more than $63 billion, representing 18…
Investors Bought Nearly 1 in 5 American Homes Sold in 3rd Quarter
November 16, 2021
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Business & EconomyBusinesses in COVID-19Economieseconomyhome ownershiphome pricesinflationInvestmentMarketsmortgagereal estaterentUS
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Almost one in every five U.S. homes sold in the third quarter of 2021 was purchased by an investor entity, rather than an individual looking to live in or rent out the residence, according to data from Redfin, a real estate brokerage. Investors bought more than 90,000 houses totaling more than $63 billion, representing 18…
Owning Home Elusive as Rise in Cost of Mortgage Payments Far Outpace Wage Growth
November 12, 2021
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AnalysisBusiness & Economyeconomic policiesEconomieseconomyinflationInvestmentMarketsmortgageOpinionreal estateUS
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News Analysis For Americans seeking to buy a home, this year has likely brought much frustration. A nexus of several natural and man-made factors culminated in the tightest residential real estate markets in recent memory. While median wages increased by 4.3 percent October-to-October this year vs last, typical mortgage payment (30-year fixed rate with 10…
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