Biggest home price jump in 6 years, serial refinancing and much more from this weeks real estate headlines you may have missed:
When an adjustable-rate mortgage makes sense (via CNNMoney)
When the housing market began declining, many people claimed that adjustable-rate mortgages (ARMs) were the cause. However, recently they’ve been making a comeback, especially among affluent borrowers. Read Full Story
Downsizing the jumbo loan (via The New York Times)
With interest rates still low, many homeowners have been saying goodbye to their “jumbo” mortgages and refinancing into conventional loans. Read Full Story
U.S. home prices make biggest jump in six years (via The Los Angeles Times)
Nationwide home prices shot up 3.8 percent in July, making their largest year-over-year leap since 2006, according to real estate data provider CoreLogic. Read Full Story
Repeat home buyers a rare breed (via San Francisco Chronicle)
Millions of people who might otherwise be move-up buyers are stuck in place because their homes are underwater. Even people who are not fully underwater can’t move, since they need equity of 5 percent to pay real estate costs in a sale and then another 20 percent for a down payment. Read Full Story
The serial refinancers (via The Wall Street Journal)
Homeowners eager to lock in lower monthly mortgage payments have discovered serial refinancing, a practice last in vogue during the housing boom. Read Full Story
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About Daniel Di Matteo
THE REAL ESTATE BUSINESS HAS LESS TO DO ABOUT SELLING PROPERTIES AND EVERYTHING TO DO ABOUT HELPING PEOPLE.
