News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
Les Christie / CNNMoney.com / December4, 2013
Beginning Jan. 10, banks have to ensure that monthly mortgage payments are affordable, a result of the Dodd Frank law passed in 2010. The failure to do so carries strict penalties.
“My concern is that we’re going to be in an environment where some lenders are too small to comply,” said David Stevens, CEO of the Mortgage Bankers Association.
During the housing bubble, some banks issued loans without even checking applicants’ income or assets.
Under the new rules, lenders must carefully determine that borrowers have the ability to repay their loans. That means, forRead More
National Association of Realtors / November 4, 2013
For most home buyers, the purchase of real estate is one of the largest financial transactions they will make. Buyers purchase a home not only for the desire to own a home of their own, but also because of changes in jobs, family situations, and the need for a smaller or larger living area. This annual survey conducted by the NATIONAL ASSOCIATION OF REALTORS® of recent home buyers and sellers provides insight into detailed information about their experiences with this important transaction. Here are highlights from the latest report.
- Sixty-six percent of recent home buyers were married couples—the
David Crowe / NAHB / October 3, 2013
Recent data concerning consumer and builder confidence suggest that at the end of the summer a pause occurred with respect to economic improvement. Adding to this is the uncertainty associated with the shutdown of the federal government. Besides the direct impact from lost or delayed government services, the shutdown is also a warning concerning the impending political debate regarding the debt ceiling, an issue which could have significantly larger economic impacts, including higher interest rates.
Direct impacts from the ongoing shutdown include possible delays in FHA-insured single-familyRead More
Brad Hunter / Metrostudy / September 4, 2013
Analysis shows that move-up buyers are accelerating purchases, but entry-level buyers may continue to rent.
There was a heated debate over the past few months as to whether higher mortgage rates would have a negative or a positive effect on home sales. One group expected a surge in sales, as people try to beat further price increases. The other camp argued that there would be no surge, and the only effect would be a loss of buyers due to higher monthly payments and fewer affordable homes.
Metrostudy has been tracking the effects of higher mortgage rates on home sales and traffic in new-homeRead More
Randy Nelson / Movoto / September 3, 2013
As we make our way out of the traditional home buying season of the summer months, the real estate market as a whole appears to be bucking some recent trends, particularly where inventory is involved. According to Movoto Real Estate’s latest State of the Market report, inventory increased in the past month and is continuing an upward trends as we head into the fall, traditionally the slower months for home buying.
While the market typically sees a decrease in inventory at the end of the summer, the number of homes available actually increased by 2,297, or 2.4 percent, from July to the end of August.Read More