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Did You Know?


DID YOU KNOW? Homes listed in the first week of April get 14% more online views on average and are likely to sell 6 days faster than the average during the rest of the year. Homes sold in April are also priced 6% higher than those in January. Larger, more expensive homes tend to be listed in the spring because families like to move over the summer, during school vacations. (CNBC)
 
DID YOU KNOW? Nearly 50% of Americans are “rent-burdened,” spending more than 30% of their income on rent. Homelessness is on the rise. Nationally, around 14% of children may have experienced eviction in the last 10 years. (Marketwatch)
 
DID YOU KNOW? The FHA told lenders this month it would begin flagging more loans as high risk. Those mortgages, many of which are extended to borrowers with low credit scores and high loan payments relative to their incomes, will now go through a more rigorous manual underwriting process. The FHA tries to boost homeownership by insuring loans to borrowers with less-than-stellar credit, lessening the risk for lenders. The agency is worried that lenders are making loans to borrowers who can’t repay, leading to a spike in defaults that strains the agency’s reserves. (Marketwatch)
 
DID YOU KNOW? The average rate on the 30-year fixed mortgage has fallen more than a quarter of a percentage point in the last week and is nearly a full point lower than the recent peak last November. Every quarter-point drop knocks about $50 off the monthly payment on a $300,000 mortgage. (CNBC)



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