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Fannie May, America’s biggest mortgage lender, is making it easier for millennials to buy their first home

Monday Jul 10th, 2017

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In the housing bubble, just about anyone who could apply for a mortgage was able to get one. A decade after the crash, the largest lenders are loosening their standards again to make housing more accessible to first-time buyers. Fannie Mae, the largest US mortgage lender, is making it a little easier for people with all kinds of existing debt — including student loans — to qualify for mortgages. The change will kick in on July 29 when the debt-to-income ratio (DTI), a... [read more]

US home resales hit 10-year high in Q1

Tuesday May 16th, 2017

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  Home resale numbers and prices across the country jumped in the first three months of the year, according to the National Association of Realtors. Sales of existing homes jumped 1.4 percent from the previous quarter to hit a seasonally adjusted annual rate of 5.6 million, the highest rate since the first quarter of 2007, the Wall Street Journal reported, citing NAR figures. The national median home price hit $232,100, a 7 percent jump from the same period last year and the... [read more]

US mortgage rate drop could cause spike in home sales

Wednesday Apr 26th, 2017

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U.S. mortgage rates fell below 4 percent last week, which may encourage a rush of home buyers. Last week, the average rate on a 30-year fixed-rate mortgage was 3.9 percent, the Wall Street Journal reported, citing data released by Freddie Mac. It’s the first time rates have dropped below 4 percent since November. A week earlier, the rate was 4.08 percent and in mid-March it was 4.3 percent, according to the Journal. Mortgage rates jumped following Donald Trump’s... [read more]

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