The average size of a home loan has swelled to the biggest amount on record, according to the Mortgage Bankers Association’s survey, which dates back to 1990. The larger mortgage size not only reflects Americans purchasing pricier properties, but also shows they’re more leveraged now too, MarketWatch reports.The median mortgage size is now more than five times as big as the median annual income. In 1990, the median mortgage size was only abou
The 30-year fixed-rate mortgage dropped lower for the third consecutive week and neared its low for 2017, Freddie Mac reports in its weekly mortgage market survey."The 10-year Treasury yield was relatively unchanged this week, while the 30-year mortgage rate fell 4 basis points to 4.1 percent,” says Sean Becketti, Freddie Mac’s chief economist. “After three straight weeks of declines, the 30-year mortgage rate is now barely above the 2017 l
Fifty-six percent of consumers recently surveyed believe that a standard homeowner’s policy covers flood damage. But they’re mistaken, and their assumption could be a costly mistake.The survey by insuranceQuotes of about 1,000 consumers shows a lot of misunderstandings when it comes to home insurance and what’s covered and what’s not.“Being misinformed about your home policy can be an extremely expensive mistake—especially when a few
If you're considering investing in a mobile app for your brokerage, make sure a progressive web app (PWA) is included in your analysis. This technology marries a traditional downloadable app with a mobile-friendly website, and works on all devices, computers, and operating systems.According to Skilled.co, a web development company, the average mobile user accesses four times as many websites as mobile apps per month, and many consumers don't take
Soak brushes in fabric softener to keep the bristles soft. Mix half a cup of fabric softener with a gallon of water, and swish the brush in the mixture for 10 seconds. Lay flat or hang the brush to dry. The softener will keep the bristles from developing a bend and will help distribute the paint more smoothly. Use plastic wrap to protect items from paint splashes. Putting plastic wrap around large items such as toilets and sinks will protect thei
This may be the biggest bargain ever for a home in the San Francisco Bay Area. Two homes in Oakland, Calif., are being listed for a mere $1 each. But obviously, there's a catch.The homes, one of which was built in the 1800s and the other in the early 1900s, are on a site owned by a development company that plans to construct an apartment complex there so the houses would need to be moved to a new location. They will be razed if a buyer doesn't st
Baby boomers and millennials have different attitudes when it comes to marriage, children, and homeownership. Researchers with the National Center for Family and Marriage Research at Bowling Green State University compared adults who were 25 to 34 years old in the 1980s with those who are in that age group today. One difference they found is that millennials are getting married later in life. In 1980, two-thirds of 25- to 34-year-olds were marrie
When you're at a networking event, talk less about yourself and ask more questions of the people you meet. Your approach should be "what value can I bring" to others as opposed to "what can others do for me?" writes Jill Schiefelbein in her book Dynamic Communication. Asking questions will create a more lasting connection and likely lead to benefits for both parties.In the end, Schiefelbein notes, your goal is to get a second handshake during an
The average annual property tax in the U.S. was $3,296 in 2016, with an effective tax rate of 1.15 percent, according to a new report released by ATTOM Data Solutions. The report encompasses a 2016 property tax analysis of more than 84 million single-family homes.The effective tax rate, according to ATTOM Data Solutions, is the average annual property tax expressed as a percentage of the average estimated market value of homes in a geographic are
New homes are getting larger, but their lot sizes are getting smaller. The median size of a new home increased from 1,938 square feet in 1990 to 2,300 square feet in 2016, but lot sizes during this same period decreased from 8,250 square feet to 6,970 square feet. That amounts to about a 16 percent decrease.However, the trend hasn't been consistent: Between 2006 and 2011, home buyers were showing demand for larger homes and larger lots. As home
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