Mortgage Industry Highlights – June 2017
June was another busy month in the red-hot mortgage industry. Here are some recent articles, highlights and tips for homeowners:
The Federal Reserve raised short-term interest rates by a quarter point on Wednesday, June 14. This was the third rate hike since December.
Key takeaway: the Fed raised interest rates as a sign of confidence in the improving US economy, and many analysts are predicting at least one more rate hike in 2017. Keep a close eye on interest rates and the Fed if you’re considering buying a home or refinancing your mortgage.
Federal data released on June 23 showed the median sale price of new homes in May was $345,800, a 17% increase from one year ago. This article analyzes why prices are quickly increasing.
Key takeaway: rising demand for homes combined with falling supply is driving the home price increase.
Homeowners 62 and older experienced a 3.1% home equity increase in the first quarter of 2017. Total home equity for this age group is currently sitting at $6.3 trillion.
Key takeaway: seniors 62 and up could be eligible for a reverse mortgage, which allows applicants to borrow money from their home equity. Increasing home values are helping make reverse mortgages an increasingly attractive consideration for certain seniors.
Green home construction is increasingly popular, and increasingly affordable. This article lists some of the top trends in green construction.
Key takeaway: there are many practical options to decrease your home’s energy consumption while improving its energy efficiency.
Seven tips to help your garden beat the heat
We’re entering summer’s hottest period, and this article provides helpful tips for keeping your garden, plants and trees in good shape.
Key takeaway: learning how and where to water is critical for your outdoor plants, garden and trees.
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