Some Millennials say they plan on renting forever

Although Millennials seem to be taking over the housing market, nationally, 12.3% of Millennial renters say they plan to keep renting. Last year, 10.7% said they plan to always rent, up over 2%, a study from Apartment List said. For most, being able to make a down payment is the

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Refinances hit 4-year high in October

How much of a refinance surge is the mortgage business experiencing? Well, for the first time in more than four years, there were more refinances closed in a month than purchase loans. According to the new Origination Insight Report from Ellie Mae, there were more refis than purchase mortgages in

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Existing home sales climb 1.9% on low mortgage rates

Despite lingering regional variances, the nation’s existing-home sales increased by 1.9% in October, according to the National Association of Realtors. Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums, and co-ops – rose to a seasonally adjusted annualized rate of 5.46 million. This means sales are 4.6% above October 2018’s rate.  “Historically-low

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Freddie Mac: Mortgage rates reverse course from last week’s uptick

This week, the average U.S. fixed rate for a 30-year mortgage fell to 3.66%. That’s 9 basis points above last week’s 3.75% and more than a percentage point below the 4.81% of the year-earlier week, according to the Freddie Mac Primary Mortgage Market Survey. “The housing market continues to steadily gain momentum with rising homebuyer demand and

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