Your identity can be bought for as little as $1,192.58, a new study from Reviews.org shows. Scammers who steal identities and private information through data breaches sell the private information on the dark web, a collection of encrypted websites accessible only through special browsers.And while you may be at more risk for identity theft depending on where you live, the danger doesn't necessarily break down into regional categories, the study
The National Association of REALTORS® welcomed two proposed rules by the Consumer Financial Protection Bureau on Monday in what it believes will help bring greater stability to the housing market for homebuyers. The CFPB moved to extend its Qualified Mortgage Patch and amend its QM definition by removing a previous debt-to-income limit that home buyers were required to meet, replacing it with a price-based approach that would account for the dif
A housing shortage that has increased since the pandemic began in March means buyers continue to face steep competition for the limited supply of homes.A new study from Clever Real Estate shows that 42% of buyers who purchased a home between January and May were in a bidding war. Further, the brokerage Redfin reported this week that half of its agents’ offers faced competition in May, up from 44% in April.Competition from buyers making all-cash
Homeowners quickly began making repairs and swapping outdated fixtures as they started to shelter in place at the beginning of the COVID-19 pandemic. Home improvement stores like Lowe’s and Home Depot reported a surge in earnings as the pandemic began.And the trend is sticking around. Homeowners are requesting personal loans for home improvement above rates prior to the pandemic, a new study from LendingTree shows. Requests for home improvement
The 30-year fixed-rate mortgage set a new record again this week as rates averaged 3.13%, the lowest average rate in Freddie Mac’s records, which date back to 1971.The previous low for the 30-year fixed-rate mortgage was set just a few weeks ago at the end of May, averaging 3.15%.“While the rebound in the economy is uneven, one segment that is exhibiting strength is the housing market,” says Sam Khater, Freddie Mac’s chief economist. “P
Home buyers are reemerging, and here’s the proof: Mortgage applications to purchase a home reached the highest volume in more than 11 years. Record low mortgage rates are tempting more buyers into the market.Mortgage applications to purchase a home are 21% higher than the same week a year ago, the Mortgage Bankers Association reports. Applications for home purchases ticked up 4% week over week.“The housing market continues to experience the r
The Federal Housing Administration and Federal Housing Finance Agency announced that they are extending foreclosure and eviction moratoriums another two months to help homeowners financially impacted by the COVID-19 pandemic.The government agencies are extending until Aug. 31 foreclosure and eviction moratoriums for homeowners whose single-family mortgages are insured by the FHA and backed by either Fannie Mae or Freddie Mac. The original morator
Real estate continues to rank at the top of the list of the best long-term investments for Americans, according to the latest annual poll from Gallup. About 35% of Americans picked it as their favorite investment, which has been the case since 2013.Meanwhile, Americans are less likely to view stocks or mutual funds as the best long-term investment, particularly waning after the COVID-19 pandemic struck the economy this spring. Twenty-one percent
The 30-year fixed-rate mortgage continued to hover near its all-time low this week, averaging 3.21%, Freddie Mac reports.“The rebound in home buyer demand continued this week, driven by mortgage rates,” says Sam Khater, Freddie Mac’s chief economist. “This turnaround in demand, particularly by those who have higher incomes than the typical household, also reflects deferred sales from the spring.”Freddie Mac reports the following nationa
The COVID-19 pandemic, coupled with recent protests and civil unrest, has had a profound impact on the economy and housing market. But some cities at the epicenter of the confluence of storms are already seeing signs of a recovery.Realtor.com® debuted a new weekly Housing Recovery Index, which factors in home search traffic, median list prices, new listings, and median time on the market. The site compares the data to January 2020 market tr
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