Last week's economic releases included readings on the NAHB Housing Market Index, sales of pre-owned homes, and housing starts. Weekly readings on mortgage rates and first-time jobless claims were also released. NAHB: Home Builder Confidence in Market Conditions Holds Steady The National Association of Home Builders reported an index reading of 67 for September, which matched August's reading. Growing concerns over impacts of tariffs on building material costs have slowed builders' confidence in current and future market conditions. Components of the NAHB Housing Market Index include readings on current conditions, which gained one point to 74; builder confidence in market conditions over … [Read more...]
Pros And Cons: Older Homes Versus New Construction
Opinions differ about whether home buyers are best served by purchasing an older home or new construction. New homes enjoy that "new home" smell and the idea that you are the very first occupant can be very appealing. On the other hand, older homes resonate with nostalgia and many architectural design elements are no longer commonly used. While some people feel strongly one way or the other, it's a lot like comparing apples and oranges. The right home for any home buyer is the one that fits your lifestyle. Consider these pros and cons of new and older homes when making your decision. Construction Differences Home builders often tout the state-of-the-art aspects of new construction. … [Read more...]
NAHB Housing Market Index Unchanged in September
Home builder confidence in housing market conditions stayed flat in September. The National Association of Home Builders Housing Market Index reported an index reading of 67, which matched expectations and NAHB's housing market reading for August. Analysts cited recent tariffs on building materials as a significant cause of easing builder confidence. While NAHB called September's reading "solid" at 67, the reading was one full point lower than the average reading for 2017 and equaled the lowest builder confidence reading in 2018 to date. Readings over 50 in the Housing Market Index indicate that more builders than fewer are confident in housing market conditions. Components of … [Read more...]
Is A Reverse Mortgage Right For You?
Imagine the bank depositing monthly premiums into your account instead of you writing a mortgage check. That's basically how a reverse mortgage works. Traditional mortgages involve people paying down the interest and principal on a home loan. The goal is generally to pay off the property and cruise through retirement without that monthly installment eating at your budget. With your home paid off, those previously allotted finances can be used to relax and enjoy your retirement to the fullest. That's the best-case scenario anyway. But financial life has changed significantly over the past half-century. The formula for economic security has been chipped away by rising health care costs, … [Read more...]
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