Did you have time to read up on the latest financial news? Have no fear, The Talking Cents Blog is here! As a nonprofit credit counseling agency, we at ACCC enjoy keeping up with financial news. Every week we comb through the news and curate content. This Weekly Round-Up will focus on real estate news.
Weekly Round-Up on Real Estate News
Weekly Mortgage Rates Continue to Fall
First, let’s take a look at CNBC’s article on mortgage rates (“Weekly mortgage rates fall further, but only refinance applications arise” by Diana Olick). As previously reported, mortgage rates are expected to keep dropping. Here are the key points from the article:
- Mortgage application volume increased 1.3% last week compared from the previous week, according to the Mortgage Bankers Association.
- Volume was 40% higher than a year ago, largely because lower mortgage rates are strengthening the refinance market.
- Rates have fallen in three of the last four weeks and are now at the lowest level since September 2017.
If you hold a mortgage and have good credit, check with you lender about refinancing at a better interest rate. This move can save you lots of money!
Personal Loan or Home Equity Loan?
Next, Wise Bread wrote an article about the pros and cons of personal loan vs home equity loan (“Should You use a Personal Loan or a Home Equity Loan to Remodel Your Home?” by Holly Johnson). When deciding on home renovations, the cost often exceeds a home owner’s liquid assets. So, they are left to choose a loan. Read the article to find out which loan might be a better fit for your needs.
Real Estate News: Building Affordable Homes
Finally, Forbes released an article reviewing a variety of affordable new housing types (“How To Build Homes That Regular People Can Afford” by Brad Hunter). If you are in the market for new construction, read through the article to learn more about modular homes, ADUs and site-built homes.
Keep up on the latest real estate news to make more informed home buying choices!
If you’re struggling to pay off debt, schedule a free credit counseling session with us today!