home affordability

What Are The Country’s Best Affordable Suburbs?

February 27, 2009

Nationwide, home affordability has received a serious boost from the combination of falling home prices and falling mortgage rates. Today, because of the sagging economy, in most parts of the country, the cost of owning a home versus renting one is now very close to its historical average

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How Today’s Mortgage Rates Impact Home Affordability

February 5, 2009

Comparing July’s conforming mortgage rates to today’s average rates, there’s a 1.5 percent difference in favor of homeowners.

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The 2009 FHA Loan Limits For Every U.S. County

November 19, 2008

In March 2008, HUD temporarily raised FHA loan limits around the country. Effective January 1, 2009, FHA loan limits revert. FHA home loans are mortgages made by private lenders and insured by the federal government. Historically, FHA home loans have been “easier” for which to qualify than their conforming mortgage counterparts and, therefore, tend to […]

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Weak Employment Data May Boost The Affordability Of Homes

November 15, 2008

On the first Friday of every month, the Bureau of Labor Statistics releases its Non-Farm Payrolls report. More commonly, it’s called the “jobs report” and the October’s data is trending with the rest of 2008. After shedding another 240,000 jobs last month, the economy has now put 1.2 million Americans out of work this year […]

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How Hurricanes Change Home Affordability

July 23, 2008

After falling 7 cents per gallon over the last 7 days, gas prices are being pressured higher today as Hurricane Dolly barrels through the Gulf of Mexico. The first landfall hurricane of the season is expected to flood the southern Texas coast and cause minor disruptions to the nation’s oil supplies. Versus Hurricane Katrina in […]

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How Job Losses In The Economy Are Helping Home Affordability

July 3, 2008

On the first Friday of each month, the Bureau of Labor Statistics releases its Non-Farm Payrolls report. More commonly, it’s called the “jobs report”. The jobs report is a sector-by-sector look into the U.S. economy and whether businesses are hiring — or firing — workers.  This is one of the reasons why its release is so […]

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Why It’s Good News For Home Buyers When Unemployment Rates Surge

June 6, 2008

On the first Friday of every month, the Bureau of Labor Statistics releases its Non-Farm Payrolls report. More commonly called the “jobs report”, today’s 2-page analysis of May 2008 shows that the economy shed jobs and that unemployment surged. This is terrific news for home affordability. That may sound counter-intuitive, so let’s dig deeper into the […]

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The Right Question: “How Much Do I Want To Spend On Housing Each Month?”

March 6, 2008

One of the most popular questions that home buyers ask real estate and mortgage professionals is “How much home can I afford?” It’s a normal question to ask, but it’s not the most effective way to plan your finances. Banks will almost always approve you for a home loan in excess of your household budget. […]

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Real Estate Term : Negative Amortization Home Loan

January 25, 2008

(Pronounced: NEGH-ah-tive am-ohr-tih-ZAY-shun) Negative amortization is the process by which a loan’s principal balance increases on a month-over-month basis. This is in contrast to a “typical” amortization schedule in which the principal balance decreases. Negative amortization is an optional feature on some home loans. These mortgages are usually referred to by the brand names “Option […]

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