PTC-Computer-Solutions-Parker-Associates-blog-July-2019-Interest-Rate-Cut

Falling Interest Rates

Falling interest rates are spurring a new wave of mortgage refinancing. With the average rate on a 30-year fixed home loan now at less than 4%, there are 7 million homeowners who could cut their current rate by three-quarters of a percentage point. Many are taking notice: Refis are up 28% in the past four weeks. Many of the folks who can gain from refinancing took out their current loans last year. Still, it’s not a repeat of the boom in refinancing that took place in 2013, when refis made up 63% of the mortgage market. This year, the figure will be 26%. The Fed pumped the brakes on refis […]

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PTC-Computer-Solutions-Parker-Associates-blog-July-2019-home-buying-process

The Homebuying Process is Speeding Up

The Process of buying is faster Kiplinger reports that the process of buying homes is speeding up as a host of start-up firms use sophisticated algorithms to identify promising investment properties and generate an instant offer made directly to the homeowner. If the owner accpts, closing can take place in as little as two weeks. The purchaser makes renovations and then tries to quickly resell the house at a premium. It might be thought of as the new version of “flipping.” Among the firms driving the trend are Opendoor, Offerpad, Knock and Perch, among others. The biggest of them, Opendoor, aims to buy and sell homes in 50 markets soon. […]

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