January 2019

Found 2 blog entries for January 2019.

It turns out a lot of millennials want to buy a home someday — a whooping 89 percent according to a new Apartment Listsurvey. But, just 5 percent expect to buy in 2019 and 34 percent say they will wait at least five years. Why the lag? 

While the dream of homeownership is strong, 72 percent cite affordability as the critical issue. 

 

Down payment funds are primary challenge

Sixty-two percent of millennials specifically mention the lack of funds for a down payment. Only 11 percent have saved $10,000 or more for a home and 48 percent have zero down payment savings.

 

What the study overlooks

The survey also found that two-thirds of Millennial renters would require at least two decades to save enough for a 20 percent down

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Is the Recent Dip in Interest Rates Here to Stay? | MyKCM

Interest rates for a 30-year fixed rate mortgage climbed consistently throughout 2018 until the middle of November. After that point, rates returned to levels that we saw in August to close out the year at 4.55%, according to Freddie Mac’s Primary Mortgage Market Survey.

After the first week of 2019, rates have continued their downward trend. As Freddie Mac’s Chief Economist Sam Khater notes, this is great news for homebuyers. He states,

“Mortgage rates declined to start the new year with the 30-year fixed-rate mortgage dipping to 4.51 percent. Low mortgage rates combined with decelerating home price growth should get prospective homebuyers excited to buy.”

In some areas of the country, the combination of rising interest rates

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