Homebuyers turn to aging properties as construction lags
The median age of homes purchased nationwide reached a record high of 36 years in 2024, a significant jump from 27 years in 2012, according to an analysis released Monday by Redfin.
The trend reflects a long-term slowdown in new home construction and growing affordability challenges. Buyers are increasingly turning to older properties, often out of necessity rather than preference.
Loan officers detail the challenges of explaining reverse mortgages
Reverse mortgage professionals encounter a variety of challenges when introducing product specifications to a prospective customer for the first time.
These elements may include an explanation of how the loan proceeds work, clarifying the realities of negative amortization, or something as basic as communicating to a family member why their loved one is thinking of utilizing the product in the first place.
What happens to mortgage rates with more trade deals?
What will happen to mortgage rates now that China and the U.S. have made progress in their trade war, agreeing to a 90-day period of lower tariffs? Stocks are up considerably this morning and bond yields have also increased. This raises the question: Is the de-escalation of the trade war good for mortgage rates? The trade deals are just one factor, but I see three possible scenarios for mortgage rates in this environment.
Why the ‘silver tsunami’ is a big challenge for small communities
The so-called “silver tsunami” — referring to some kind of “rush” of older people into certain places, out of the workforce or to their housing stock, depending on who you talk to — has larger communities scrambling about how to effectively absorb more older residents.
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