Notary Near You Blog

Millennials Are Largest Segment of Home Buyers for 8th Consecutive Year

According to reports from the National Association of Realtors (NAR), millennials represent 37 percent of all homebuyers this past year, and have made up the largest share of homebuyers for 8 consecutive years.  Another interesting fact from the NAR is that many of the homes being purchased are considered multigenerational homes that will house adult siblings, adult children, parents, or grandparents.

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Notary Near YouMillennials Are Largest Segment of Home Buyers for 8th Consecutive Year
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Mortgage Rates Increase in February, creating the question: What’s Next?

Mortgage interest rate volatility continued in February with many lenders quoting interest rates higher than just a couple weeks earlier. Many home buyers and those seeking mortgage refinance are expressing concern about how high mortgage rates may increase this year.

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Notary Near YouMortgage Rates Increase in February, creating the question: What’s Next?
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Interest rates reached a new low in January, resulting in Increased Refinance Mortgage Activity

MortgageNewsDaily.com reports that according to Ice Mortgage Technology (formerly Ellie Mae), in their Loan Origination Report for January, “closed loans continued to show declining note rates in January, dropping from an average of 2.93 percent in December to 2.88 percent” and also includes “Interest rates continued to decline in January, driving up the share of refinances by seven percent,”

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Notary Near YouInterest rates reached a new low in January, resulting in Increased Refinance Mortgage Activity
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Home Purchase Mortgage Applications up 42% in December 2020 compared to Prior Year

Home sales were strong throughout 2020, with purchase applications up 42% in December 2020 compared to same period in 2019. These results are much better than many projected in early 2020, when the Covid Pandemic brought our nation to a standstill for months. The historically low mortgage interest rates in 2020 is the clear reason for the stellar home sales market performance.  

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Notary Near YouHome Purchase Mortgage Applications up 42% in December 2020 compared to Prior Year
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