Millennials have not had the best luck when it comes to the economy. As the generation that graduated with record amounts of student loan debt and a poor job market, it’s no surprise that they have also been hit the hardest financially by the pandemic. According to a survey by
Tomo Networks, a Connecticut-based digital mortgage startup, just picked up $40 million in a seed round as it mobilizes to build a compelling product in an increasingly crowded market. Founded by ex-Zillow executives Carey Armstrong and Greg Schwartz, Tomo says it will offer a platform to streamline home buying for
After two weeks of slight declines, mortgage applications regained their footing last week, rising 1.7% from the week prior, according to a report from the Mortgage Bankers Association. The refinance index led the rebound after it gained 3% from the previous week, however, according to Joel Kan, MBA’s associate vice president
Gen Zers are finally starting to break into the housing market. According to TransUnion, Gen Z mortgage originations jumped 84% at the end of last year, and if recent survey data from Freddie Mac rings true, those numbers should grow substantially over the coming years. The GSE’s Generation Z Study
This year’s housing market has been plagued with low inventory, rising home prices, and endless bidding wars, making it hard for some would-be homeowners to get their foot in the door. Will 2021 be any different? Or, will it be a good time to buy a house? If you’ve been
The real estate market is hot right now, and bidding wars are the norm in many parts of the country. For buyers, that means more competition — as well as less leverage in negotiations. It’s just one of the many reasons to think long and hard about making a contingent
Credit plays a huge role in the home-buying process. It also affects the interest rate you receive on your loan, as well as the long-term costs of borrowing the money. So if you have a low credit score or no credit at all, that can definitely hold back your home-buying dreams
Lots of young homebuyers seek financial help when securing their dream homes. In fact, according to a recent study, more than half of prospective homeowners under age 35 expect to get help from family or friends. And of those who have already bought a house? About half said it wouldn’t
In today’s hot market, buyers are doing all they can to stand out. Some are waiving inspection contingencies, while others are avoiding repair requests, opting to handle home repairs, fixes and upgrades as needed later on. While this approach could certainly help buyers win out in a bidding war, the
Mortgage rates have never been lower — literally. In the past few months, interest rates on 30-year mortgages have hit all-time lows on multiple occasions. As of Sept. 21, the average rate is clocking in at just 2.87%. That’s down from an average 3.94% rate in 2019 and 4.54% in
Asteroom, a smartphone-based provider of mobile 3D home tours for real estate professionals, has announced a partnership with Berkshire Hathaway Home Services Fox & Roach which gives agents access to Asteroom’s 3D tour technology, image enhancement and 3D virtual staging capabilities. Asteroom’s technology lets agents use their smartphone camera to
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