- Housing News
- September 10, 2021
Cash-Out Refinances Just Hit a 15-Year High
Thanks in large part to the consistent rise in home prices, homeowners are tapping into their growing home equity more often than they have in more than a decade.
Ben is the Managing Editor for New American Funding. In this role, Ben helps with content creation, news coverage, and serving our audience of borrowers, real estate agents, loan originators, and other housing professionals. Prior to joining New American Funding, Ben worked at HousingWire, a top housing media outlet. Ben joined HousingWire in 2014 as a reporter and was later promoted to Senior Financial Reporter, Editor, and eventually to Managing Editor. During his time at HousingWire, Ben helped elevate HousingWire to national acclaim and record traffic growth. He was also honored with multiple awards for his work, including an Eddie Award from Folio Magazine and a Gold Award for Best Trade Magazine Story from the National Association of Real Estate Editors.
Thanks in large part to the consistent rise in home prices, homeowners are tapping into their growing home equity more often than they have in more than a decade.
It's the same song, different verse when it comes to home prices these days. They keep going up and up and up.
There's much-needed relief on the way for beleaguered home shoppers who are having difficulty finding the home of their dreams, as the number of homes hitting the market is on the uptick.
In many cities and towns across the country, the hallmark of the housing market this year has been fewer homes hitting the market, leading to multiple offers and even downright bidding wars for the homes that do become available. However, it appears that things may be starting to calm down…a bit.
Despite a dip in mortgage applications in July, 2021 had the second-strongest July since 2012, with new home sales unchanged from June.
If you're thinking of selling a house, you might be feeling a little overwhelmed—especially if you need to sell your house fast. You're constantly running through the to-do list in your head: hire a real estate agent, stage the home for viewings, get a home inspection.
After declining for four straight months from February through May, existing home sales are on the comeback trail, having now risen for two months in a row.
For the fourth month in a row, mortgage applications for new home purchases have declined.
It appears that June's good news on the new home front was short-lived, as a new report shows that construction of new single-family homes declined in July.
If you've been paying attention to real estate over the last year, you saw home prices rise substantially…unless you lived in Springfield, Illinois, that is. That's because home prices rose in just about every major metropolitan area in the last year. The only market where prices fell? Springfield.
Subscribe to our newsletter for market updates, mortgage tips, and homebuying hacks - straight to your inbox!
You are being redirected to a third party website. New American Funding is not responsible for the content of this website, including its privacy policy. Do you want to continue?