How will Millennials shape the housing market?

Aug 31, 2015

The 75.3 million Millennials in the United States are undoubtedly going to shape the future of the housing market in ways never before imagined. The latest statistics about this group provide some indications of how this could affect the country's housing industry. Millennials are young people...

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Weak treasury auction pushes mortgage rates somewhat higher

Aug 31, 2015

After stock markets around the world tumbled on Black Monday and mortgage rates dropped significantly, Tuesday and Wednesday were relatively quiet. A weak treasury auction on Wednesday pushed rates up marginally, but most borrowers will only notice this in the form of slightly higher closing...

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New York students building the home of the future

Aug 27, 2015

What will the house of the future look like? What criteria will be used in its design? Nobody can see into the future, but the young people of today will design the homes of tomorrow, so asking them is a good start. If the students of CUNY's technical college, City Tech, in downtown Brooklyn are...

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Mortgage rates at lowest level in more than three months after Black Monday

Aug 27, 2015

The media is already referring to August 24 as “Black Monday” because stock markets around the world plunged, wiping billions of dollars off stock indices. Regular readers will by now be aware of the link between these type of events and mortgage rates. When economic chaos erupts on world...

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Surge in single-family housing starts last month

Aug 25, 2015

The number of new single-family homes being built has always been a very important indicator of the health of the country's housing market. However, other indicators, such as the number of building permits being issued, can sometimes give an early glimpse of where the market is headed. According...

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Illinois housing market going from strength to strength

Aug 24, 2015

Anyone who has written off the Chicago housing market will have to think again. According to the Illinois Association of Realtors, the summer housing market in Chicago and the rest of Illinois is booming, with strong sales and even stronger price gains. Last month, 16,901 homes were sold...

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Mortgage rates drop after release of FOMC minutes

Aug 21, 2015

The most important event on this week's mortgage rate calendar arrived on Wednesday: the release of the minutes of the July 28-29 Fed meeting. Fortunately, it didn’t cause any major upsets in the market. These minutes do not normally cover any major decisions regarding bond buying or rate...

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