BEIJING: China needs to do more to boost employment and stabilise its property market, top officials acknowledged on Saturday, as policymakers struggle to revive the country’s battered economy.Beijing is grappling with a prolonged property sector crisis, record youth unemployment and a global slowdown hammering demand for Chinese goods.Youth unemployment hit an unprecedented 21.3 percent in…
Fannie Mae has announced an update to its HomeReady mortgage product that could save certain borrowers thousands of dollars on upfront homebuying costs – but this offer is only available for a limited time. In a lender letter issued Wednesday, the mortgage giant unveiled a temporary $2,500 credit for low-income homebuyers that can be used…
Key Takeaways Besides taking out a mortgage, your best bet for homeownership is to buy a house in cash. Less common mortgage alternatives include rent-to-own agreements and owner/seller financing. Both rent-to-own and seller financing come with their fair share of risks compared with a traditional mortgage. Taking out a mortgage can be an obstacle for…
The pace of new construction was mixed in December, as builders pulled more permits for new homes but started work on slightly fewer than a month earlier, according to a report from the Census Bureau and the Department of Housing and Urban Development. Permits were 1.9% more than the upwardly revised 1.47 million November number…
Mortgage Rate Predictions for January 2024 2024 Forecast 2025 Forecast Fannie Mae 6.7% 6.2% Mortgage Bankers Association 6.1%* 5.5%* National Association of Home Builders 6.77% 5.79% National Association of Realtors 6.3% — Realtor.com 6.8% (6.5%*) — Wells Fargo 6.44% 5.79% *Denotes year-end rate. All others are annual averages. When Will Mortgage Rates Go Down? At…
Most people never encounter the concept of escrow until they buy a home. Escrow accounts are set up by third parties as a safe place to hold money. They are used for two main purposes when it comes to real estate: during a home purchase and afterward as an easy way for homeowners to save…
