Slower price growth helps homebuyers, hurts underwater mortgages

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 · A potential recession in 2020 or 2021 could slow sales and price growth, he says, and possibly cause prices to flatten or even dip in some of the high-priced markets that have seen intense growth.

Mortgage Rates Are Low — So Why Aren’t people buying homes? Despite several factors that make buying a home more appealing, the homeownership rate is at a generational low. Matthew Frankel, CFP

bundling groups of loans, bonds, mortgages, and other financial debts into new securities. What does it mean when economists say that home buyers are "underwater" on their mortgages? Buyers owe more on their mortgage than the properties are worth.

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While house prices are continuing to grow, and in many areas have far out-stripped wage growth, some signs are suggesting the market may be starting to slow down. If this is the case, it may be worth monitoring house prices in your area to see whether prices begin to ease off.

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Negative equity can occur because of a decline in home value, an increase in mortgage debt or both. The total amount of negative equity totaled $283 billion at the end of the fourth quarter. This is down 0.3% or $700 million from the third quarter and down 8.4% or $26 billion from last year.

In another sign that Chicago still struggles with the aftermath of a housing crash that for many other cities is a fading memory, a new report says that Chicago has more than twice the national.

Former Fannie exec to lead Flagstar lending unit  · Flagstar Names Ottaway Michigan Market President After Strong 2016. Flagstar Bank named Andrew Ottaway, executive vice president and head of lending, to the additional role of president of the bank’s Michigan market, with responsibility for Flagstar’s retail platform and 99 branches in Michigan.. In the year since Ottaway has been in charge of lending, he has led his team to growth.

Home prices are rising at a slower rate than past 4 years: FHFA Prices still rose in 99 out of 100 of the largest metro areas in the United States and in all 50 states, year-over-year by Patrick.

Slower price growth helps homebuyers, hurts underwater mortgages As home price appreciation levels off, the amount of underwater loans rose in the first quarter while equity-rich properties continued adding value, according to Attom Data Solutions.

Typically, a one percent increase in the mortgage rate adds 10 percent to a homeowner’s mortgage payment. The higher rates could ultimately put pressure on home prices and impact housing demand. This is still a year or two away from becoming a reality.

Being underwater on your mortgage is a sticky situation to be in. It becomes a more pressing concern if you are struggling with your mortgage repayment. Against this backdrop, here are some things you can do to mitigate your underwater mortgage situation.