385 Results for author: RateMarketplace

Many Renters Not Ready to Buy

By now, it’s no secret that the rental market nationwide is skyrocketing, with more people renting than ever before – and rental prices soaring to new heights. But despite the rising costs, most tenants are largely satisfied to keep renting and have no plans to buy a home any time soon. According to a new report ... More

Mortgage Applications Up 3.6 Percent, Thanks to Refinancing

CNBC financial reporter Diana Olick revealed on Monday that the total mortgage application volume rose 3.6 for the week ending Aug. 14, versus the previous week. And according to Olick, the jump was caused, in large part, by refinance applications, which surged 7 percent during the same time period. "The pick-up in refina... More

Wells Fargo Adding More Car Loan Branches Nationwide

Wells Fargo revealed to Reuters on Tuesday that it has begun creating more branches devoted to car loans and financing for auto dealers as a way to increase its auto lending business in a relatively low-risk environment. According to the news source, Wells Fargo currently operates 56 branches for car and dealer financing, ... More

New Report Uncovers Why Many Americans Wait to Buy First Home

According to a new report released by the Associated Press on Monday, Americans are waiting longer than ever before to buy their first homes – and it’s due to a shortage of cash and unsettled careers. The news source – referencing data from Zillow – revealed that the typical first-time homebuyer now rents for six ... More

New Report Shows Where Inflation Is Most Prevalent

Although much of the country is currently enjoying a drop in gasoline prices and certain other commodities, inflation has most certainly not gone away. According to CNBC, there are several areas where the cost of goods and services has skyrocketed recently, with construction prices leading the way. “We forget about this ... More

Tenants Spending Record-High Shares of Income on Rent

As rent prices continue to increase nationwide, the Wall Street Journal confirmed on Thursday that tenants are now spending a higher share of their income on housing than ever before. According to the paper, most renters can expect to pay at least 30 percent of their income on rent, which is the highest number we’ve seen ... More

Borrowing Increases – But Barely – for U.S. Households in Q2

The New York Fed revealed on Thursday that the amount of borrowing increased for households nationwide in the second quarter of 2015 – but just barely. According to Bloomberg, “increases in auto loan debt and credit card balances offset a decline in mortgage debt to leave total borrowing of U.S. households roughly ... More

Wells Fargo Mortgage Chief Mike Heid Announces Retirement

Wells Fargo announced on Wednesday that its mortgage chief, Mike Heid, is preparing to retire after 28 years with the bank. “Over a distinguished career spanning three decades, Mike has helped our company and the entire housing industry navigate unprecedented challenges,” Chief Executive Officer John Stumpf said in a ... More

New Report Shows Auto Insurance is More Affordable for Teens on Parents’ Plans

A new study conducted by InsuranceQuotes.com found that 18-year-olds pay an average of 18 percent more for car insurance when they sign up for individual plans than they do when they remain on their parents’ policies. The report, which was just published earlier this week, also noted in some states, like Pennsylvania, that ... More

CNN: Fed Rate Hike Not a Done Deal

Although it has been widely suggested that the Federal Reserve will be raising interest rates in the coming weeks, CNN pointed out on Monday that there’s a chance the prediction won’t play out. According to the news source, there are five key factors that may keep the Fed from making a move. Bad wage growth, the decline ... More