Average rate on 30-year mortgage falls to 3.66%

— Associated Press WASHINGTON (AP) – Jan. 16, 2015 – Average long-term U.S. mortgage rates fell for the third straight week, with the benchmark 30-year rate again marking its lowest level since May 2013. The average for a 15-year mortgage, a popular choice for people who are refinancing, dipped below 3 percent for the first…

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End-of-year mortgage rates remain below 4%

by Paul Wiseman, Associated Press WASHINGTON (AP) – Jan. 5, 2015 – Average U.S. mortgage rates rose slightly last week, but the benchmark 30-year rate stayed near a 19-month low. Mortgage giant Freddie Mac says the nationwide average for a 30-year fixed rate mortgage increased to 3.87 percent last week, up from 3.83 percent one…

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Buyers have ways to reduce closing costs

NEW YORK – Dec. 19, 2014 – Closing costs can add a lot to home buyers’ final price, depending on which lender a buyer uses, which state they live in, the price of the home, and sometimes even the day of the month the closing occurs, The Wall Street Journal reports. Borrowers can reduce their…

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Buyers embrace the ‘contemporary craftsman’ look

NEW YORK – Dec. 9, 2014 – Craftsman homes – generally built between 1905 and the early 1920s – were part of the Arts & Crafts movement, which valued handmade work, uniqueness and natural materials. Craftsman architecture often included exposed rafters and beams, an abundant amount of stone and wood, and the use of porches…

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What’s the next big home feature buyers want?

KNOXVILLE, Tenn. – Nov. 24, 2014 – Homeowners are showing a bigger appetite for smart home technology. Nearly half of consumers – 46 percent – say it’s important their current home or the next home they purchase have smart home technology, according to a survey of nearly 2,500 consumers, conducted by ERA Real Estate and…

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