With Baby Boomers outbidding Millennials and Generation X in many home sales, economists at the National Association of Realtors say real estate agents should start thinking differently about what their clients need from them.
An analysis of Census Bureau data shows that 53 percent of Millennials in Greater Hartford now own homes, but separate studies released in recent days suggest that the remaining 47 percent of area Millennials face a steeper path to ownership than their peers.
A new study from brokerage and listings portal Redfin suggests the income needed to afford monthly mortgage payments on the median-priced home in Connecticut’s three biggest real estate markets doubled in the last year.
Two moves announced by Federal Housing Finance Agency officials Monday could give a boost to first-time buyers, , minority buyers and others with less resources who’ve been unceremoniously shoved out of the housing market by rising prices and interest rates this year.
In a move it said would boost lower-income Americans’ ability to buy homes, Freddie Mac said it would start including a review of a prospective homebuyer’s bank account as part of its review of whether or not to purchase a loan from a lender.
It’s not just ability to pay that helps knock less-well-off buyers out of the housing market as prices and mortgage interest rates climb through the roof.
Millennials who move far from childhood homes are a distinct minority among others who reached adulthood in the 21st century, according to a new study by the U.S. Census Bureau and Harvard University researchers released Monday.
In each of Connecticut’s three biggest metro areas, home prices have risen so far not only is renting far cheaper than buying the median home, that home is out of reach of the majority of buyers.
The U.S. housing market is slowing as would-be buyers struggle with rising borrowing costs and a persistent shortage of properties for sale.
A record low 25 percent of respondents in Fannie Mae’s latest monthly Home Purchase Sentiment Index survey said it was a good time to buy a home.
Paul Katz is leading an initiative at Promontory MortgagePath to support CDFIs and minority depository institutions in their efforts to expand homeownership in underserved communities.
The Federal Housing Administration announced Friday that it plans to make it easier for homebuyers with student debt to access FHA single-family loans.
It’s widely accepted in the real estate finance world that student debt can significantly lower someone’s buying power when they go to purchase a new home. But a new paper has quantified how much.
Owners of higher-end homes are looking to sell are returning to the market in the Hartford area while owners of lower-end homes are holding back, according to new data released by Zillow.
When the coronavirus pandemic shut down the economy, the mortgage industry felt the effects almost immediately as homeowners began to request forbearances. Three months later, forbearances have continued, though some feared the impact could have been worse.
In a sign homebuyers in other parts of the country the country may be recovering from the shock of the coronavirus, purchase mortgage applications increased for the second week in a row, according to the Mortgage Bankers Association.
The lowest mortgage rates in 11 years have brought wannabe homebuyers off the bench and onto the playing field in droves. But low-cost mortgages don’t always help the market.
Obtaining an affordable mortgage is an art, not a science – especially for first-time buyers – and is just as important as finding an affordable house.
Only a lender can tell a homebuyer how much they can spend on a house. But they don’t have to spend that much, and probably shouldn’t.
A company founded by a pair of housing nonprofits has launched what they say is the country’s first independent app dedicated to helping first-time and first-generation homebuyers navigate through the entire homeownership journey.
