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Millennials own nothing because the economy screwed us over for 25 years – but older generations still try and blame it on our work ethic

[Business Insider, Leung/Insider Intelligence] My parents don’t understand why I don’t own a house, a car, or a retirement savings account.My generation has fewer job opportunities, more student debt, and outrageous housing prices.It’s far worse for us than it was for previous generations.Ingrid Cruz is a freelance writer based in Mississippi.This is an opinion column. […]

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Evictions are still banned in these states

[CNBC, iStock | Getty Images] Months after the national ban on evictions expired, a number of states and cities have either kept in place or implemented policies curbing the proceedings.Here’s where renters are still protected.Months after the national ban on evictions expired, a number of states and cities have either kept in place or implemented […]

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A shock is headed for the housing market

[Fortune, Getty Images] The Biden-Harris administration has made it clear it has no plans for another extension of the mortgage forbearance program, which is set to lapse on Sept. 30. At the height of the pandemic, more than 7.2 million homeowners were in the mortgage forbearance program, which allows some borrowers to pause their payments. […]

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Nearly half of Americans selling their homes don’t plan to buy another: Here’s what they’re doing instead

[Acorns, Twenty/20] It is not surprising sellers are opting to rent, due to the all-time high housing prices. The housing market is red-hot and showing few signs of slowing down. Home prices were at a median $386,888 in June, according to Redfin, up 24% since last June. And demand is high: The average house lasted just 14 days […]

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Inside the rundown Washington, DC, home that got 76 cash offers

[New York Post, Realtor.com] A home that got 88 offers — 76 of which were cash offers — must be really something, right?via Realtor.com A home that got 88 offers — 76 of which were cash offers — must be really something, right? Well, this four-bedroom, two-bathroom abode 30 minutes outside Washington, DC, and only […]

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More than 6M households missed their rent or mortgage payment in September

[USA TODAY, GETTYIMAGES] Persistent layoffs are slowing momentum in the labor market, which bodes poorly for the broader U.S. recovery as millions of out-of-work Americans delay their mortgage and rent payments.  More than 6 million households failed to make their rent or mortgage payments in September, according to the Mortgage Bankers Association’s Research Institute for Housing […]

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Mortgage rates hit 10th record low of 2020, further fueling the US housing market’s boom

The average US 30-year fixed mortgage rate fell to 2.81% from 2.87%, its lowest in Freddie Mac data going back nearly 50 years.The reading also marks the 10th record low this year, reflecting the tumbling borrowing costs that fueled the housing market’s rebound.Sales of new and existing homes have thrived through the pandemic, but steadily rising prices […]

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Mortgage Rates Today, October 12, 2020 | Rates dip

[BankRate] Multiple benchmark mortgage rates receded today. The average rates on 30-year fixed and 15-year fixed mortgages both trended down. The average rate on 5/1 adjustable-rate mortgages, or ARMs, the most popular type of variable rate mortgage, advanced. Mortgage rates are constantly changing, but they continue to represent a bargain compared to rates before the […]

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Mortgage rates set another record low, sparking new strength in refinances

[CNBC, GETTY IMAGES] Refinance volume surged to the highest level since mid-August as mortgage rates dipped to 3.01%.Refinances jumped 8% last week and were 50% higher than a year ago, according to the Mortgage Bankers Association.Mortgage rates moved even lower last week after setting multiple record lows in recent months, spurring more borrowers to call […]

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Ranked: The average monthly mortgage payment in every state

[MSN, DepositPhotos] Paying off a home With mortgage debt at record levels, paying off a home can be expensive. This is especially true in recent weeks as the coronavirus (COVID-19) pandemic has left millions of Americans out of work and without an income. To see where monthly mortgage costs are highest, LendingTree analysts looked at […]

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