Well Fargo introduces 3% Down Payment Mortgage
CNBC’s Diana Olick reports the nation’s largest mortgage lender is now offering home loans to borrowers with a minimum of three percent down and a FICO score of 620.
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New Home Sales hit 619,000 in April, versus 520,000 Estimate
New U.S. single-family home sales surged to a more than eight-year high in April and prices hit a record high, offering further evidence of a pick-up in economic growth early in the second quarter. The Commerce Department said on Tuesday new home sales jumped 16.6 percent to a seasonally adjusted annual rate of 619,000 units, … Read more
Markets Pricing a 30% Chance of June Rate Hike: Pro
BlackRock Global Chief Investment Strategist Richard Turnill weighs in on the latest housing data and believes equities margins have peaked and payout ratios are limited.
‘This is a tough market’: Homebuilder Lennar CEO
The tone was cautious optimism, as executives from the major public homebuilders gathered Tuesday at a conference in New York City, sponsored by JPMorgan. They used the word “moderate” over and over again, in describing the current state of the housing recovery. Demand for new homes is rising, but construction, so far, is well below … Read more
Homebuilder Sentiment Unchanged for 4 Months
U.S. homebuilders are feeling positive about the current housing market, but their level of confidence hasn’t moved in four months. A monthly index of sentiment by the National Association of Home Builders (NAHB) registered 58 yet again in May. Fifty is the line between positive and negative sentiment. The index stood at 54 one year … Read more
How Tech Employees’ Living Costs Compare in Silicon Valley & Seattle
When many people hear about how much a tech employee in Silicon Valley is making, they might scoff at the high wage. However, an entry level salary for a software engineer in Silicon Valley would still have to put 50% of his or her after-tax income towards housing. That’s just the California housing market. Zillow … Read more