Appearance may matter when it comes to selling homes, at least according to researchers in a newly-published study in an industry journal, Applied Financial Economics.
On average, home owners in foreclosure can stay in their homes for over a year before they are evicted.
15-Year Mortgage Rates Dive to Lowest on Record
The 15-year fixed-rate mortgage, often the top choice of home refinancers, reached a new all-time record low of 3.11 percent this week, Freddie Mac reports in this week’s mortgage market survey. The 30-year fixed-rate mortgage also sank lower this week, hovering near it’s all-time low.
The economy continues to show signs of strengthening, which could bode well for housing, according to the latest Federal Reserve survey, known as the “Beige Book.”
Investors are pouncing on foreclosure bargains and then turning the properties into money-making rentals, which has some drawing comparisons to a “Gold Rush” of sorts.