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With little competition, homebuilders are feeling better

Housing Wire

Despite the volatile mortgage rate environment and overall economic uncertainty, homebuilder confidence slowly continues to rise, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report, released Wednesday. The existing home sales market is significantly bigger than new homes.)

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Builders continue to get a boost from low inventory

Housing Wire

Builders note that additional declines in mortgage rates, to below 6%, will price-in further demand for housing. Currently, one-third of housing inventory is new construction, compared to historical norms of a little more than 10%,” Robert Dietz , the NAHB’s chief economist, said in a statement.

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When & How do Appraiser’s Adjust for Age?

Cleveland Appraisal Blog

While we take into consideration both actual and effective age in our appraisal process, if a home is not newer construction, as noted earlier, it is more typical to make an adjustment for condition or effective age rather than for chronological age. 80% of Home Price Appreciation Since 1990 Was Due To Falling Mortgage Interest Rates?

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Does Refinancing Affect Your Taxes?

Assurance Financial

Refinancing could potentially lower your monthly payments , allow you to consolidate debt, speed up the payoff process for your mortgage, eliminate your private mortgage insurance (PMI) and put more cash in your pocket. Refinancing can make your mortgage more affordable and help you meet your financial obligations.