Exorbitant closing fees ramp up pressure on would-be homebuyers
Exorbitant closing fees ramp up pressure on would-be homebuyers
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Add higher closing costs to the list of challenges putting pressure on buyers.
Add higher closing costs to the list of challenges putting pressure on buyers.
Homebuyers continued to pull back from the market, with the decline in tours and other purchase-related activities at their highest point in over two years, Redfin said.Redfin's Homebuyer Demand Index was down 16% seasonally adjusted year over year during the week for June 19, the largest decline since April 2020. That marks the 10th consecutive week of drops in this metric.Meanwhile, for the four weeks ended June 19, an average of 6.1% of homes for sale per week had a price drop, a record high...
Homebuyers continued to pull back from the market, with the decline in tours and other purchase-related activities at their highest point in over two years, Redfin said.Redfin's Homebuyer Demand Index was down 16% seasonally adjusted year over year during the week for June 19, the largest decline since April 2020. That marks the 10th consecutive week of drops in this metric.Meanwhile, for the four weeks ended June 19, an average of 6.1% of homes for sale per week had a price drop, a record high...
Wondering how much it costs to refinance a mortgage or if it’s possible to refinance with no closing costs at all? Learn more about refinancing fees with UHM.
Wondering how much it costs to refinance a mortgage or if it’s possible to refinance with no closing costs at all? Learn more about refinancing fees with UHM.
The post What Would Prevent a House from Closing? appeared first on OVM Financial.
The post What Would Prevent a House from Closing? appeared first on OVM Financial.
High inflation and rising interest rates are keeping would-be homebuyers on the sidelines, further driving down home sales in most metro areas. Home sales in both Toronto and Vancouver are well off their highs from last year, down 49% and 46%, respectively. “There is no doubt that the sharp increases in the Bank of Canada’s policy rate and a stagnating labour market in 2022 have cooled residential activity in major urban centres in recent months,” National Bank of Canada economist Daren ...
High inflation and rising interest rates are keeping would-be homebuyers on the sidelines, further driving down home sales in most metro areas. Home sales in both Toronto and Vancouver are well off their highs from last year, down 49% and 46%, respectively. “There is no doubt that the sharp increases in the Bank of Canada’s policy rate and a stagnating labour market in 2022 have cooled residential activity in major urban centres in recent months,” National Bank of Canada economist Daren ...
Granted, the bond market lost some ground yesterday afternoon, but the more important takeaway was the day-over-day gains that successfully confirmed Wednesday's break below the 3.17% technical level in the 10yr. It's not that this is some magic line in the sand, but in this case, it showed a willingness to reject the anxiety that dominated the previous week (in which 3.17 was the lowest yield). With the benefit of clarity from the Fed and some additional bond-friendly data in the ensuin...
Granted, the bond market lost some ground yesterday afternoon, but the more important takeaway was the day-over-day gains that successfully confirmed Wednesday's break below the 3.17% technical level in the 10yr. It's not that this is some magic line in the sand, but in this case, it showed a willingness to reject the anxiety that dominated the previous week (in which 3.17 was the lowest yield). With the benefit of clarity from the Fed and some additional bond-friendly data in the ensuin...
Justice Department sets up new office of environmental justice enforcement.
Justice Department sets up new office of environmental justice enforcement.
Servicers are broadly expecting foreclosure activity to accelerate, but they think the increase will be relatively small, according to a new Auction.com survey.The vast majority or 74% anticipate a "slight" uptick in the next 12 months compared to what's been seen so far this year, in line with other indicators showing mortgage default rates are on the rise but still below pre-pandemic levels. Only 15% of servicers are planning for a "substantial" increase in completed foreclosure volume, and 1...
Servicers are broadly expecting foreclosure activity to accelerate, but they think the increase will be relatively small, according to a new Auction.com survey.The vast majority or 74% anticipate a "slight" uptick in the next 12 months compared to what's been seen so far this year, in line with other indicators showing mortgage default rates are on the rise but still below pre-pandemic levels. Only 15% of servicers are planning for a "substantial" increase in completed foreclosure volume, and 1...
Several factors make it hard for developers to catch up to demand, with Toyota and Boom Supersonic expected to amplify shortage.
Several factors make it hard for developers to catch up to demand, with Toyota and Boom Supersonic expected to amplify shortage.
Much is at stake as the Nov. 8 midterm election looms, with political contributions to candidates reaching record highs this year, according to the Center for Responsive Politics.By early October, overall political donations had exceeded $1 billion, surpassing the approximately $702 million spent by the same time in the 2018 midterm vote.Construction industry contributors are following that trend—with corporate donations as of Oct. 16 surpassing $105 million, compared with $90 mil...
Much is at stake as the Nov. 8 midterm election looms, with political contributions to candidates reaching record highs this year, according to the Center for Responsive Politics.By early October, overall political donations had exceeded $1 billion, surpassing the approximately $702 million spent by the same time in the 2018 midterm vote.Construction industry contributors are following that trend—with corporate donations as of Oct. 16 surpassing $105 million, compared with $90 mil...