Last week’s economic reporting included readings from S&P Case-Shiller home price indices, data on pending home sales, and weekly readings on mortgage rates and jobless claims. S&P Case-Shiller: December Home Price Growth Slows in 20-City Index Home price growth slowed in December according to S&P Case-Shiller’s 20-City Home Price Index. Home prices rose by 4.60 percent year-over-year as compared to November’s year-over-year home price growth rate of 6.80 percent. … [Read more...]
What Are The Benefits And Drawbacks Of Putting 20 Percent Down On A Home Purchase?
Several generations ago, lenders required home buyers to have a 20 percent down payment in order to get a mortgage. While there were a few options out there for people who couldn't save this substantial amount, the reality was that for the majority of people, the 20 percent down was a requirement. It was the way to show that you were financially responsible enough for homeownership. And it was a strong way that the banks felt secure in making a home loan. Today, however, homebuyers have many … [Read more...]
S&P Case-Shiller: December Home Price Growth Slows
Home price growth slowed in December according to the S&P Case-Shiller 20-City Home Price Index. Year-over-year home prices rose by 4.6 percent in December as compared to November’s reading of 6.8 percent growth. Rising mortgage rates caused home prices to dip as potential buyers delayed home purchases and demand for homes fell. Craig J. Lazzara, managing director of S&P Dow Jones Indices, said: “The prospect of stable, or higher mortgage rates means that mortgage financing … [Read more...]
The Top Benefits Of A Single Close Construction Loan
If you are thinking about building your own home, you might be wondering how construction loans work. There are plenty of options available, but one of the most popular choices is a single-close construction loan. This type of loan allows you to close on not only the construction expenses but also your financing costs at the same time. Essentially, a single-close construction loan will convert into your mortgage after the construction on your home is finished. What are some of the top benefits … [Read more...]
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