Over a third (36%) of homeowners with adjustable-rate mortgages say they are concerned that they won't be able to afford their mortgage payments if their rates increase, according to a new survey by AP/AOL Real Estate.At the same time, 35% of likely future homebuyers say they will seek an ARM. The survey found that younger people, those with less education and lower incomes, unmarried adults, and minorities are more likely to shop for an ARM. Anxieties about the affordability of mortgage payments were reported by 65% of those surveyed, while 58% expressed concern about their ability to make a downpayment, AP/AOL Real Estate reported. The poll of 2,001 adults included 289 recent homebuyers and 401 likely future homebuyers, the companies said. They can be found online at http://www.ap.org and http://www.aol.com/realestate.
-
The number of homes purchased by foreign buyers increased for the first time in 8 years, with many making all-cash purchases of vacation and rental homes.
1h ago -
Prosecutors said the defendant will pay back $13,784 in restitution for federal housing assistance he fraudulently obtained between 2019 to 2020.
1h ago -
Most indicators cited by Morningstar DBRS are favorable to a good securitization market the rest of the year, but inflation is one of several challenges.
2h ago -
While Sunbelt markets were more likely to see softening property values, the Northeast saw growth continue, according to Intercontinental Exchange.
2h ago -
Mortgage professionals are more often subject to non-compete and non-solicitation agreements and aren't likely to be impacted by the new Sunshine State law.
5h ago -
New limits for forward commitments add to indications the secondary mortgage market is watching builder partnerships with home lenders closely.
10h ago