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19.02.26 - 02:33
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Mortgage Recast Versus Refinancing: Which Works For You? (ZeroHedge)
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Mortgage Recast Versus Refinancing: Which Works For You?
Authored by Anne Johnson via The Epoch Times (emphasis ours),
If you come into some extra funds, you might want to consider applying them to your mortgage. It's a great way to pay down the principal or lower your monthly mortgage payment. Lowering your monthly mortgage payment is particularly helpful if you often have cash-flow issues.
William Potter/Shutterstock
There are ways to lower your monthly mortgage by using recasting or refinancing. Each option works differently, so it's important to understand how they compare.
Recasting a Mortgage
Mortgage recasting is when you make a lump-sum payment to your principal balance. Once done, your lender then calculates a new, lower monthly payment. Your interest rate stays the same.
For example, suppose you owe $250,000 on your mortgage and receive a $50,000 inheritance. If you use all of it to recast your mortgage, your lender will recalculate your monthly payments based on a $250,000 balance...
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19.02.26 - 00:24
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Housing Starts Rise to Five-Month High in Broad Increase (Bloomberg)
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New residential construction in the US rose to a five-month high in December, as homebuilders boosted production to take advantage of lower borrowing costs. Housing starts increased 6.2% to an annual pace of 1.4 million homes in December, according to figures released Wednesday by the government, which were delayed by fall's federal shutdown. That beat all estimates in a Bloomberg survey. The advance was broad-based, with both single-family home starts and apartment projects rising at year's end. The number of one-family homes started was the highest since February. Kamini Lane, President and CEO of Coldwell Banker Realty, joins Bloomberg Businessweek Daily to discuss. Lane also weighs in on this week's mortgage rate data, the current real estate market in cities like Los Angeles, and more. She speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)...
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18.02.26 - 22:30
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The Guardian view on Scotland′s housing crisis: supply has failed to keep pace with need (The Guardian)
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The country's homelessness legislation is ambitious and humane. But too many people are still sleeping on the streets or in temporary accommodationRough sleeping in Scotland has risen by 106% over the past three years. Record numbers of children are now living in temporary accommodation, official figures released this month show. In Glasgow, the city council leader warned last year that the authority had run out of temporary housing. This looks like a system approaching crisis point.The paradox is that Scotland has some of the strongest homelessness protections in Europe. More than a decade ago, the Scottish parliament abolished the “priority need” test, creating a statutory duty on councils to secure permanent accommodation for all unintentionally homeless applicants. The charity Shelter considered Scotland to have had “the best homelessness law in Europe”. But having a legal right to a home doesn't mean having a home.Do you have an opinion on the issues raised in this article? If you would lik...
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18.02.26 - 16:45
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Amid Slumping Sales & Sentiment, Housing Starts & Permits Jumped In December (ZeroHedge)
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Amid Slumping Sales & Sentiment, Housing Starts & Permits Jumped In December
It would appear that homebuilders are desperately hoping for a 'Field of Dreams' year...
After seeing existing home sales collapse in January (not driven by the winter storms), US Housing Starts and Building Permits rose dramatically more than expected in December (+6.2% MoM vs +1.1% exp and +4.3% MoM vs +0.4% MoM exp respectively)...
Additionally, Housing Starts rose as Home Builders confidence crumbled (and Future Sales expectations dropped)...
The surprise monthly surge lifted the SAAR totals for both housing sector data points to multi-month highs...
Breaking down the headline data shows that multi-family building permits and housing starts soared (+18.1% MoM and +10.1% MoM respectively) while Single-Family Building Permits tumbled 1.7% MoM while single-family starts rose for the 3rd straight month...
However, the pace of construction continues to decline on a year-over-year basis.
Growth in permit demand was mo...
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18.02.26 - 16:42
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Housing Affordability Headwinds Persisting Across US (Bloomberg)
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Amy Rubenstein is the CEO of Clear Investment Group, a Chicago based firm specializing in opportunistic real estate investments in the distressed, mid-size multifamily sector in predominantly secondary and tertiary markets nationwide. She discusses how the bifurcated US economy is manifesting itself in the housing sector with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. (Source: Bloomberg)...
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18.02.26 - 15:01
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U.S. Housing Starts Surge 6.2% In December (AFX)
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WASHINGTON (dpa-AFX) - A report released by the Commerce Department on Wednesday showed a sharp increase in new residential construction in the U.S. in the month of December.The Commerce Departmen......
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