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Archive for the Home Buying Category

Cleveland, Dayton Among Top Cities For Owning Over Renting

By on January 11, 2018   /   Economic News, Home Buying, Homeownership, Mortgage Rates  

According to an article published in National Mortgage News, the trend of owning a homeownership being a cheaper option than renting is starting to change. Attom Data Solutions, the company who conducted the study, found homeownership was more affordable than renting in 54% of the top 447 US cities, down from 66% a year ago. The 14 most populated counties, and in 30 of 39 counties with a population at or above 1 million, renting is more affordable than buying a home. “Although buying is still more affordable than renting in the majority of U.S. housing markets, that majority is

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Housing Prices are NOT Heading for Another Crash

By on December 26, 2017   /   Home Buying, Home Selling, Mortgage Industry  

As home values continue to increase at levels greater than historic norms, some are concerned that we are heading for another crash like the one we experienced ten years ago. We recently explained that the lenient lending standards of the previous decade (which created false demand) no longer exist. But what about prices? Are prices appreciating at the same rate that they were prior to the crash of 2006-2008? Let’s look at the numbers as reported by Freddie Mac: The levels of appreciation we have experienced over the last four years aren’t anywhere near the levels that were reached in

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Experts Predict Next Year’s Housing Market Trends

By on December 14, 2017   /   Economic News, Home Buying, Mortgage Industry, Mortgage Rates, Real Estate  
https://schmidtmortgage.com/millions-homeowners-missing-savings-not-refinancing/

Economic experts have begun weighing in on expected trends in the housing market for next year. Knowing and preparing for changes in the market can help savvy real estate professionals weather any storms that may come. Here are some of the predictions to be on the lookout for: Increase in Home Purchases Every industry expert whose opinions we looked at agreed: Purchase mortgage volume will increase in 2018. In fact, Michael Fratantoni, chief economist and senior vice president of research and technology of the Mortgage Bankers Association (MBA), expects purchase growth through 2020. Freddie Mac’s Economic and Housing Research Group

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Rocky River

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Rocky River, OH 44116
Phone: (440) 356-3242
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