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Homebuying increasing with help from mortgage rates

It's a good time to buy a home, and about 52 percent of Americans say they will do just that within the next five years, according to BMO Harris Bank's 2015 Homebuyers Report. Continued low mortgage rates are cited as a contributing factor. Preapprovals and mortgages In an effort to be more competitive in the homebuying process, many buyers choose to get preapproved before making an offer on a home. In fact, 78 percent plan to get preapproved prior to buying a house, BMO Harris Bank reported. This way, customers not only have a competitive advantage when they place an off...

August 28th, 2015 Homebuying increasing with help from mortgage rates

Increased cost of home updates forecasts upswing in market

The second quarter of 2015 results from Home Depot signal increased home improvement spending. This is good news for the housing market, as it typically indicates more homeowners are getting ready to sell their homes. The record number of transactions at the retailer is the highest since 2006, according to CNN Money. Interior fixes Home prices were up 6.5 percent in June compared to the same month the year before, according to CoreLogic's home price index. Rising prices indicate increasing demand. The increase in demand is encouraging more homeowners to fix up and sell their p...

August 28th, 2015 Increased cost of home updates forecasts upswing in market

Increased housing starts signal still recovering housing market

Privately owned housing starts increased in July. The increase in construction of single-family homes is contributing to an upward swing in the housing market. According to the U.S. Department of Commerce, these starts jumped 10.1 percent in July compared to the same month last year and 0.2 percent since June. Additionally, the seasonally adjusted rate of all housing starts is now 1.21 million, which is the highest since October 2007, The Wall Street Journal reported. The demand for single-family homes is high due to the lack of available houses on the market, encouraging construct...

August 28th, 2015 Increased housing starts signal still recovering housing market

Mortgage rate dip leads to increased refinancing and homebuying

The recent fixed-rate mortgage rate decline is helping more people refinance and buy homes.

August 11th, 2015 Mortgage rate dip leads to increased refinancing and homebuying