Last week's economic news included readings on Case-Shiller home prices, construction spending, and consumer sentiment. Labor sector readings on private and public employment and the national unemployment rate were also released. Weekly readings on mortgage rates and new jobless claims were also released. Case-Shiller: Home Price Growth Approaches Record Home price growth approached a record set in 2006 in August, but analysts said that affordability and the shortage of homes for sale could … [Read more...]
You Ask, We Answer: Should I Build a New Custom Home or Buy an Existing One?
Are you looking to buy a new house in the near future? If so, one of the choices you will face is constructing your own brand-new home or buying an existing home. The idea of building a new house on the right piece of land might sound enticing, but what if you could have a larger, more luxurious existing home in the same neighborhood for a much lower cost? As you might imagine, there are pros and cons to each kind of home. In today's blog post we will explore whether you should build a new home … [Read more...]
Mortgage 101: How Interest-Only Mortgages Work and Why They’re A Good Solution for Some Buyers
Whether you're a first-time homebuyer or an experienced real estate investor, if you are planning to borrow funds to buy a home you will want to choose the right mortgage product. In today's blog post we'll explore how interest-only mortgages work and why they're the perfect choice for some homebuyers. How Interest-Only Mortgages Differ From Conventional Ones As the name suggests, interest-only mortgages are loans where you are only required to pay off the interest portion of the loan each month … [Read more...]
Case-Shiller: Home Price Growth Near All-Time High in August
Case-Shiller's National Home Price Index rose to a year-over-year home price increase of 6.10 percent as compared to July's reading of 5.90 percent. The 20-City Home Price Index rose to a year-over-year reading of 5.90 percent over July's reading of 5.80 percent. Home Prices Nearing Their Peak? Some cities that previously had high home price increases saw lower paces of growth. San Francisco, California, which reported double-digit home price growth rates in recent years, reported -0.10 … [Read more...]
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