Consumers who make efforts to raise their credit scores from “fair” to “very good” may see big payoffs. LendingTree researchers analyzed loan request and average loan balance data to see how a lower credit score can increase borrowing costs for the average consumer. They compared the impact across several types of debt: mortgages, student loans, auto loans, personal loans, and credit cards.Overall, raising a credit score from “fair”
Ongoing housing shortages and rising home prices are prompting international buyers to pause in their recent homebuying sprees in the United States. International sales in the U.S. totaled $121 billion from April 2017 to March 2018, a 20 percent decline from a year ago, the National Association of REALTORS® reports.Foreign buyers and recent immigrants accounted for 8 percent of existing home sales, a decrease from 10 percent during the 12-month
The home’s garage, large backyard, and updated kitchen may not be as important to home shoppers as the school district, according to a new survey released by realtor.com® of more than 1,000 people who closed on a home in 2018. Seventy-eight percent of buyers surveyed say they’re willing to give up home features to get their school district of choice, and home shoppers are willing to give up their most desired home features to get that.“Mo
A new partnership between digital notary platform Notarize and Title Resources, a national title company, is ushering in faster and fully digital closings on real estate transactions in a handful of states. Consumers are able to complete a 100 percent digital closing process in 15 states, where they won’t have to be present at the closing table.Many lenders and title companies now offer digital applications and underwriting processes. However,
Many people are moving across state boundaries and migration patterns are growing fairly common in some areas. For example, those who leave California are most likely to move to Texas. In the past five years, an average of more than 25,000 people left California for Texas, likely drawn to the booming tech industries and lower housing costs, according to a new analysis of census data from Porch, a home improvement resource.Many people who left Ne
Ongoing inventory shortages helped to push the median sale price for existing homes to another all-time high in June, the National Association of REALTORS® reports. The median price for all housing types was $276,900, surpassing a previous record set in May. Home prices have surged 5.2 percent since a year ago.The mix of low inventory and high home prices may have had an influence on existing-home sales in June, which fell for the third consecut
Sellers are cashing in on yet another record high for sale prices, with the median annual return on home sales reaching 8 percent nationally over the last 12 months, according to realtor.com®. But some cities are seeing annual returns stretch as high as 14 percent, researchers found in an analysis of the 100 largest U.S. metros. “Owning can be a great way to build up overall net worth,” says realtor.com® Chief Economist Danielle Hale. “I
A home buyer in White Plains, N.Y., has filed a class-action lawsuit against real estate brokerage Houlihan Lawrence, accusing the firm of using dual agency as a tactic to maximize its profits and dominate the local market. Dual agency is when both the buyer and seller of a transaction are represented by the same brokerage. Pamela Goldstein, the buyer who filed the suit, is seeking a class-action status to represent consumers who may have faced a
Artificial grass, which comes in multiple textures, finishes, and colors, can give homeowners a low-maintenance alternative to natural lawns. But it has pros and cons.Artificial grass doesn’t need watering and remains green all year, which is a big selling point for homeowners. It works well in most climates, particularly dry climates, but it’s not totally maintenance-free. For example, you’ll need to rinse an artificial lawn to clear it o
Congress has until July 31 to extend the National Flood Insurance Program, which provides policies in 22,000 communities nationwide, and this week brought a last-minute flurry of activity as the deadline approaches.Reps. Tom MacArthur (R-N.J.) and Steve Scalise (R-La.) introduced a bill to extend the NFIP through Nov. 30. Reps. Ed Royce (R-Calif.) and Earl Blumenauer (D-Ore.) also introduced a four-month extension bill, which included eight bipar
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