It’s Just The Facts: August 27, 2018

The Latest In Housing News:

  1. In the last year, average home prices increased in all 50 states. Nevada’s +17.0% average home price gain led the nation over the last year – Federal Housing Finance Agency
  2. American households headed by individuals under the age of 35 were split 44/56 between homeowners and renters in 2004. Today, it is split 36/64 between the two. It is tough to be young. – Census Bureau
  3. Just 1 out of every 23 home #mortgages in America was at least 1 payment past due as of the 2nd quarter 2018. That result is an improvement from the 1 out of every 10 home mortgages that were in the same both just 8 years ago. – Mortgage Bankers Association
  4. According to the Census Bureau, 3 out of every 8 homeowners in the US own their home free-and-clear of any debt. 29.7 million debt-free homeowners out of 77.9% million total homeowners.
  5. What it looks like to have a higher interest rate: Borrowing $100k on a 30-year fixed at 4.53% requires a monthly “principal and interest” payment of $508.47. Borrowing $100k at 5.53% = $569.67. – BTN Research

Courtesy of Mortgage Market Guide