For the first time in 13 years, the U.S. homeownership rate ticked up, and millennials are behind the long-awaited boost. The U.S. Census Bureau reported Tuesday that the rate increased to 64.2 percent in the fourth quarter of 2017, up from 63.7 percent a year prior.The lion's share of the boost came from younger Americans. The homeownership rate among households headed by someone under the age of 35 increased to 36 percent in the fourth quarter,
A Manhattan real estate broker with Douglas Elliman has sued representatives of pop superstar Taylor Swift, alleging the singer refused to pay commission after the purchase of a townhouse.The suit claims a written promise to the unnamed broker for exclusive representation of Swift in the purchase of the townhome. The broker claims to have shown two properties to Swift, including the townhouse she purchased, along with other work on the star's
Mortgage rates were on the rise for the second consecutive week, causing some borrowers to show reluctance. Total mortgage application activity—which reflects both refinancing and home purchase demand—dropped 2.6 percent last week, the Mortgage Bankers Association reported Wednesday. Nevertheless, mortgage volume remains 6.6 percent higher than the same week a year ago."Rates moved higher last week driven by concerns over a weaker U.S. dollar
Contract signings on home sales rose slightly in December, reaching their highest level since last March, the National Association of REALTORS® reported Wednesday. NAR’s Pending Home Sales Index, a forward-looking indicator based on contract signings, moved 0.5 percent higher to a reading of 110.1 last month, 0.5 percent higher than a year ago.“Another month of modest increases in contract activity is evidence that the housing market has a s
The U.S. Department of Housing and Urban Development is accepting public comments about whether to lift some of its manufactured housing regulations in an effort to help alleviate housing shortages. Comments can be submitted through Feb. 26 at regulations.gov.Manufactured homes are constructed according to code administered by HUD, as opposed to the state, local, or regional regulations that govern stick-built housing. HUD estimates that more
In a decision that aligns with arguments by NAR and other industry groups, the U.S. Court of Appeals for the District of Columbia Circuit reinstated a previous decision that shot down a controversial Sec. 8 anti-kickback enforcement action taken by the Consumer Financial Protection Bureau in 2016. The court said the CFPB incorrectly levied a $109 million fine on a mortgage company, PHH Corp., for entering into an arrangement with mortgage insur
About LeishaAs a devoted real estate professional I will make every effort to ensure your experience is as smooth and enjoyable as possible. So, whether you are seriously interested in getting into the real estate market, or simply just looking, I can help you find the answers to your questions about homeownership or selling your home.My goal is to assist you in finding that perfect home. Whether you want a big backyard or a 3-car garage, I will
Following last year's Experian data breach, many people froze their accounts to safeguard them from potential identity thefts. But with the spring homebuying season on the horizon, don’t forget to remind potential home shoppers that they may face some hassles getting approved for a mortgage if they don’t remember to unfreeze their credit first.Lenders tend to pull reports from the three main credit bureaus—Equifax, Experian, and TransUnionâ
The renter population is outpacing homeowners in many of the nation’s largest cities. The most recent data shows a slowing rental market as homeownership rates continue to gradually recover from the recession.RentCafe, an apartment and house rental listing company, recently analyzed U.S. Census data to study the change in the number of people living in renter- and owner-occupied housing units over a decade. They compared data from the years 200
As more states legalize marijuana for recreational and medical purposes, the housing industry is increasingly looking to embrace it as a building material too, The New York Times reports.North Carolina boasts the first modern U.S. hemp house, which was constructed in 2010. About 50 homes in the country have since popped up with hemp built in.Hemp structures date back to Roman times. But now, some builders want to bring it back to their markets
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