Mindblown: a blog about philosophy.
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The case for a 40-year mortgage
Homeownership, a key aspect of the American Dream, is becoming increasingly unattainable for many, particularly younger generations. A proposed solution is a 40-year mortgage supported by the Federal Home Loan Bank system, coupled with federal subsidies for first-time buyers who complete financial literacy training. This approach aims to lower monthly payments, enhance access to homeownership,…
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CPI Rate Drop: Housing Market’s Rebound Jolt?
July's Consumer Price Index showed a 3% increase, the lowest in over three years, impacting the housing market. The CPI report led to a significant rate drop below 6.90%, the second largest single-day decrease this year.
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Fannie Mae Lowers Home Sales Forecast
Fannie Mae's ESR Group has downgraded its home sales and mortgage origination forecasts for 2024-2025, while raising its GDP growth outlook to 1.9%. Home sales are projected at 4.78 million in 2024 and 5.19 million in 2025, with weak demand reflected in low mortgage applications. Purchase mortgage originations are expected to be $1.325 trillion in…
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How Much Does It Cost to Sell a House in Oklahoma?
Selling a home in Oklahoma typically costs 14.70% of the sale price, including REALTOR® fees, closing costs, and staging. The avg REALTOR® commission is 5.95% of the home’s sale price.
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H2 2024: Best Time to Buy in Oklahoma
August features higher listings with an avg price of $241,600. 24.9% of homes are selling below listing prices, offering buyers better deals.
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What is a good debt-to-income ratio for a mortgage?
Fox Money, a personal finance hub, provides content generated by Credible Operations, Inc., which is indirectly owned by Fox Corporation. Lenders assess various financial data points, including the debt-to-income ratio (DTI), to determine mortgage eligibility. DTI compares total monthly debt payments to gross income, expressed as a percentage. A lower DTI is preferable for mortgage…
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U.S. Housing Market: What’s Pushing Prices Up?
Low inventory levels have helped maintain high home prices. Final sale prices reflect deals made a month or two earlier, maintaining current high prices.
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Happy Labor Day
Happy Labor Day! Labor Day is a day dedicated to honoring the contributions and achievements of workers and the labor movement. It marks summer's informal end in the U.S., as schools often start after the holiday. It offers a chance to ponder the historical strides in workers' rights and labor advancements. Cheers to hardworking individuals…
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New Inflation Report Is Good for Homebuyers
Cooling inflation could lead to Federal Reserve rate cuts, resulting in lower mortgage rates.Lower rates make homeownership more affordable with reduced monthly payments and long-term savings.
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Can You Buy a Home Without Income?
You can buy a house without income by proving financial strength or paying in cash. A strong credit history, including a high credit score, can improve your chances.
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