Many consumers are overestimating the down payment they need in order to purchase a home, believing that they need 11 percent to 15 percent to get approved for a loan. In reality, it takes much less.
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The average family found homes to be a little less affordable in April, as home prices continued to rise while incomes and mortgage rates remained stagnant.
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Mortgage rates were at all-time lows last year, and those home owners who were able to lock in low rates may be less willing to sell in the future. The phenomenon is being dubbed the “lockdown effect.”
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In honor of National Safety Month, social media network WalletHub analyzed 26 key metrics to arrive at a list of the safest places to live in the U.S. Find out if your state made the top 10.
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“Failing to disclose the pros and cons of a limited marketing plan, such as ‘coming soon’ advertising, can violate state real estate license laws and regulations, MLS policies, and the REALTOR®Code of Ethics,” NAR warns.
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Rents rose in April at the slowest pace in the last 12 months, as median wages continued to slog and for-sale home prices take off.
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