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HELOC Use is On The Rise
HOUSINGWIRE
June 29, 2018 Jessica Guerin
More Americans are tapping their home equity
For most homeowners, a good portion of their money is tied up in their house. But a sizable number are no longer content to sit on that nest egg and watch it grow. They want cash - now - and they're tapping their home equity to get it.
In the first quarter of this year, the number of people taking home equity lines of credit jumped 18% from the previous quarter and 14% from the same time period last year, according to a recent report from property analytics firm ATTOM Data Solutions.
In just three months, nearly 350,000 borrowers took out HELOCs, according to ATTOM. The cities with the most impressive upticks in HELOC volume were Hartford, Connecticut (up 80%), Nashville, Tennessee (up 74%) and Las Vegas (up 69%).
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Fannie Mae: Both renters and homebuyers feel pessimistic about affordable housing availability
HOUSINGWIRE
June 29, 2018 Jeremiah Jensen
Affordability concerns could be keeping people in their homes and contributing to inventory shortage
Renters and owners are more likely to be concerned about housing affordability when they have to find a new place to live compared to the affordability of where they already live, according to a report from Fannie Mae.
Basically, people feel more comfortable paying what they pay now and are concerned that their payment (whether it's rent or a mortgage) will be less affordable than what they currently have. This may explain why people are moving less frequently and, by extension, explain some of the shortage of homes on the market.
According to a new survey from Fannie Mae, just 8% of owners with a mortgage said their mortgage was not affordable, whereas as a whopping 45% of owners overall feel that it is difficult to find affordable housing in their area.
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Beat The Summer Heat!!
Kid 101
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Ongoing Calendar of Concerts
Event Calendar
Arizona Science Center
600 E Washington St Phoenix, AZ
July 27, 2018 to September 4, 2018
Recurring daily
10:00 AM to 5:00 PM
$8.95 for non-members (adults and children) and $6.95 for members (adults and children). Exhibition requires purchase of general admission ticket.
(602) 716-2000
Arizona Broadway Theatre
7701 W. Paradise Lane Peoria, AZ
July 27, 2018 to August 12, 2018
Recurring daily
Show times vary, see website for details.
Ticket prices vary, check website for details
(623) 776-8400
The Arizona Biltmore, A Waldorf Astoria Resort
2400 E Missouri Ave. Phoenix, AZ
July 27, 2018 to August 31, 2018
Recurring weekly on Friday
602-955-6600 x 7000
6:00 PM to 6:45 PM
$20
Desert Botanical Garden
1201 N. Galvin Parkway Phoenix, AZ
July 28, 2018 to September 1, 2018
Recurring weekly on Saturday
7:00 PM to 9:30 PM
Included with general admission
(480) 941-1225
Superior Town Hall
199 N Lobb Superior, Az 85173
The event begins Sat Aug. 18th 2018 at 7:00amand lasts All Day
Free
(520) 689-0200
At The Westworld Equidome In Scottsdale
16601 N Pima Rd, Scottsdale, AZ 85260
Friday, Sept 8th: 6:30 pm
Saturday, Sept 9th: 11:00 am, 3:00 pm, 6:30 pm
Sunday, Sept 10th: 11:00 am, 3:00 pm, 6:30 pm
(480) 946-3696
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