Residential Real Estate
The three largest credit-reporting agencies will begin cleaning up credit reports in July, which could help lift the credit scores of about 12 million consumers.
A cursory glance at the sales data for Massachusetts’ top selling residential property during the last week of May is impressive. Michael Carucci listed and sold 150 Heath St. in Brookline for $7.5 million in a single day. Fast, easy money, right?
During the week ending June 16, total mortgage applications increased 0.6 percent from the previous week, according to the Mortgage Bankers Association.
Mortgage Rates Inch Up After Extended Decline
Legendary Sox catcher and former team captain Jason Varitek and his wife, Catherine Varitek, closed on an $1.8 million home in Hingham’s Residences at Black Rock earlier this month.
The Massachusetts Divisions of Banks issued a letter last week clarifying whether or not an employee of a nonprofit entity who originates a mortgage needs to be licensed by the commonwealth.
In the last seven years, the state’s population has grown by about 246,000 people, Bay State employers have added 353,000 jobs, and for those seeking a new place to live, 81,000 new housing units have been permitted, according to the Massachusetts Housing Partnership.
The current economic expansion, now entering its ninth year, is forecast to continue, with full-year growth at 2 percent for 2017, according to the Fannie Mae Economic & Strategic Research (ESR) Group’s June 2017 Economic and Housing Outlook.
They were all the rage – then the scourge – of the housing boom and bust. Now they’re back, big time: home mortgages that require tiny or zero-down payments from buyers.
In the wake of the Consumer Finance Protection Bureau’s (CFPB) recent $1.75 million civil penalty against Nationstar Mortgage for Home Mortgage Disclosure Act (HMDA) violations, mortgage lenders are well-advised to prepare for the changes in HMDA reporting requirements that take effect in less than six months.
The market tightness index, calculated from data including list price, sale price and time on market, not only measures a seller’s bargaining power, but also has a short-term house price predictive power. In other words, tracking the ups and downs of market tightness can help predict the trend of price in the following one to eight quarters.
Nauset Construction and developer 3MJ Realty have completed the conversion of the former Conrad’s department store in Boston’s Downtown Crossing into a 27-unit luxury apartment complex.
Mortgage applications increased 2.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending June 9, 2017. Last week’s results included an adjustment for the Memorial Day holiday.
The latest guide to Boston architecture has been released as a mobile app so iPhone users can appreciate design and development while they’re on the move.
U.S. residents with mortgages (roughly 63 percent of all homeowners) have seen their equity increase by a total of $766.4 billion in the year since the first quarter of 2016, an increase of 11.2 percent, according to a recent report from CoreLogic, a global property analytics firm.
Two eastern Massachusetts cities cited in a new report for higher-than-recommended lead levels in water at several homes are taking steps to replace lead pipes.
The number of total programs decreased to 2,454 in the first quarter of 2017, down nine programs from the previous quarter, according to the First Quarter 2017 Homeownership Program Index report from Down Payment Resource (DPR).
In March 2017, 4.4 percent of mortgages were delinquent by at least 30 days or more including those in foreclosure, down 0.8 percent from March 2016, according to a report released from CoreLogic, a property information firm.
The share of Americans who think now is a good time to buy fell 8 percent to a record low 27 percent last month, according to the Fannie Mae Home Purchase Sentiment Index for May. The percentage of those who say now is a good time to sell increased 6 percent to 32 percent, a record high.
The Massachusetts Association of Realtors is heading to the Statehouse this week to promote its agenda aimed at increasing real estate sales across the state. There are seven items on the agenda ranging from statewide zoning reform to opposing real estate transfer taxes, but not everyone is on board with the association’s proposals.
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