Buyer’s remorse is not uncommon for first-time homebuyers, but the monthly mortgage payment isn’t why. A Bankrate survey found that 63 percent of young buyers regret their purchase.
First-time homebuyers find themselves going through a steep and fast learning curve once they get serious about buying. Here are some tips to consider.
Mayor Muriel Bowser and the D.C. Housing Finance Agency on Wednesday announced a program that will make zero-interest recourse loans available to D.C. federal workers.
In D.C., and all surrounding counties for 2019, the conforming loan amounts will be capped at $726,525. That is up from the 2018 conforming loan limit in the D.C. area of $679,650.
Mortgage rates this year have had the most sustained increase to the start of a year in more than 40 years, with the average rate on a 30-year fixed-rate mortgage rising to 4.66 percent this week.
“Healthy consumer spending and higher commodity prices spooked bond markets and led to higher mortgage rates over the past week,” said Sam Khater, Freddie Mac’s chief economist.
Current homeowners are staying put — and spending to renovate. A recent Bankrate.com survey found that 62 percent of current homeowners do not ever plan to move. And more than a third of homeowners said they are likely to remodel, upgrade or add to their current home in the next five years.
The number of homeowners with a mortgage in negative equity continues to decline nationwide, but the D.C. region still has one of the highest negative equity rates among big cities.
Across the country, nearly 10 percent of homeowners with a mortgage still owe the bank more than they could sell their homes, but recent numbers show an improving outlook.
Mortgage rates fell again this week, and might continue to do so.
The Washington region still has a negative equity problem, though the number mortgaged homeowners in the region who owe the bank more than they could sell for continues to fall.
Long-term rates for larger mortgages remain a bit lower than rates for conforming mortgage loans.
Some are better off using the money elsewhere, but extra payments and refinancing can do a number on your mortgage.
ALAN SUDERMAN Associated Press RICHMOND, Va. (AP) — Virginia Attorney General Mark Herring is suing some of the world’s largest banks for $1.15 billion in damages related to the housing market crash. Herring said at…
D.C. may be one of the most expensive U.S. cities in which to live, but a new report by personal finance website Bankrate shows the District has the fifth lowest mortgage closing costs.
Recreating the District in video game form was no small task. Here's how the developers did it.