Search-engine giant Google wants to help make homes smarter and more connected, and took another step at that by by announcing its acquisition of connected device maker Nest Labs. Google announced it will pay $3.2 billion in cash to acquire Nest Labs, a company that develops “smart” home appliances such as thermostats and smoke detectors…
The National Reverse Mortgage Lenders Association is launching a borrower outreach effort through the distribution of a new consent form the association has developed for its members. The form, which NRMLA encourages lenders to include in loan closing packages, requests contact information for the borrower if he or she chooses to share it. The collection…
The clock is ticking for buyers and homeowners who want to grab a low mortgage rate in 2014. But if you stay on top of your game, keep your finances in order and act quickly, you can still grab attractive mortgage deals. These 10 mortgage tips can help you with your mortgage decisions in 2014.…
First-time home buyers who want affordable homes may want to take a hard look at fixer-uppers, smaller homes and cheaper commutes to work to save on the costs of buying and owning a home. Real estate brokers say many home buyers expect more than they can afford in a home and once they start pounding…
Some housing experts are trumpeting changes that allow foreclosure sufferers to buy back into the American Dream sooner than they probably imagined, calling 2014 the year of the “boomerang buyer.” Revisions made over the summer to Federal Housing Administration guidelines and technical updates in November to Fannie Mae loan approval systems have opened the door…
The U.S. real estate market made a robust comeback in 2013, surpassing expectations of many economists, as the combination of low inventories and historically low-interest rates caused home prices to rise and even helped fuel bidding wars in some markets, surpassing the expectations of many economists. Looking back at some 2013 data can give us…
Average U.S. rates for fixed mortgages barely changed this week, hovering near historically low levels. Mortgage buyer Freddie Mac said Thursday that the average for the 30-year loan slipped to 4.51% from 4.53% last week. The average for the 15-year loan edged up to 3.56% from 3.55%. Fixed 30-year loan dropped from 4.53% last week…
The new regulator for Fannie Mae and Freddie Mac said Wednesday he was delaying planned fee increases by the seized mortgage finance giants because he wanted to assess the impact on the housing market. Melvin L. Watt, who was sworn in as director of the Federal Housing Finance Agency on Monday, quickly showed there would…
If your debt is out of control but you have equity in your home, you might consider consolidating your debt with a home equity line of credit. Debt consolidation comes with the possibility of a single payment, and a low interest rate that allows you to pay off your indebtedness in less time for less…
The U.S. Senate has confirmed Janet Yellen to serve as the next chair of the Federal Reserve, after Ben Bernanke finishes his second term at the end of the month. Senators voted 56 to 26 in her favor, with many missing the vote because of inclement weather. Eleven Republicans broke party ranks, voting to support…
The big “will-they or won’t they” ended last month with the Fed’s mid-December announcement that it would begin tapering its economic stimulus efforts. Federal Reserve Chairman Ben Bernanke’s decision to scale back on Bond and Treasury purchases by $10 billion signaled that the economy has showed sufficient ability to play on its own, albeit, on…
Mortgage rates in the U.S. saw a tiny increase this week, but most popular loans remain under 4.5 percent as 2013 comes to a close. The average rate on a 30-year fixed mortgage inched upward to 4.48 percent, according to the latest survey from mortgage buyer Freddie Mac. Last week, the 30-year fixed average was…