HSH in the news - 2019

March 14, 2019: "How Much Do You Need to Make?", a New York Times review of housing market conditions by Michael Kolomatsky incorporated figures from HSH.com's quarterly affordability study:

Buying a home got more challenging in the past year, with rising interest rates and tight inventory the main culprits. If you’re wondering where you can afford to live, HSH.com’s newest report may help.
The report shows how much you need to make to qualify for a mortgage for a median-priced home in the 50 largest American cities. The calculations take into account home prices in each of those cities in the fourth quarter of 2018, as well as 30-year fixed-rate mortgage rates, property taxes and homeowner’s insurance.

March 11, 2019: " How Much You Need To Earn To Buy A Home In America Today", a Benzinga.com update on housing affordability conditions by Wayne Duggan included components of HSH.com's quarterly metropolitan area affordability analysis:

While that surge in home prices is great for homeowners, it’s made it difficult for homebuyers, particularly younger buyers in large cities where the real estate market is hottest.
To make matters worse, rising interest rates have pushed mortgage rates higher than they’ve been in years, creating yet another obstacle for buyers. HSH.com recently compiled a list of the most- and least-affordable U.S. metro housing markets. The list incorporates median housing prices, interest, taxes and insurance payments and is ranked by the salary a homebuyer would need to afford the average home in each market.
On a national level, the salary needed to comfortably afford a home is $61,453, according to HSH.com. That estimate is based on an average mortgage rate of 4.9 percent on a median home price of $257,600. That average home price is up 3.95 percent from a year ago. The average monthly mortgage payment is around $1,433.

March 11, 2019: "'I Got a Home Loan in 24 Hours': How to Get a Mortgage Fast, Revealed", a Realtor.com market technology discussion by Daniel Bortz included some advice for consumers from HSH.com VP Keith Gumbinger:

And a growing number of mortgage lenders are stepping up the pace, offering rapid pre-approval to home buyers—some within 24 hours of a borrower submitting an application, says Keith Gumbinger, vice president at HSH.com, a mortgage information website.
“Online-only lenders like Rocket showed this could be done, and now we’re seeing many mortgage lenders taking steps to keep up,” he says.
Example: In simple cases, Bank of America's electronic system can give an applicant pre-approval within 72 hours or less, says John Schleck, senior vice president of sales at the lender.
Nonetheless, “Just because you can get a mortgage more quickly doesn’t necessarily mean it’s the best mortgage for you,” Gumbinger points out. “Speed and convenience can be valuable, but you still have to research the mortgage market and shop around.”

March 5, 2019: "10 Cities Where You Can Own A Home For About $1,000 A Month", a Forbes article about relatively affordable places to live by Brenda Richardson included analysis done by Keith Gumbinger, HSH.com's vice president:

While housing affordability continues to be a concern across the country, there are some metropolitan areas where homes are a relative bargain. Pittsburgh, for example, is the nation's most affordable metro area to buy a home, according to a recent analysis by mortgage data provider HSH.com.
Using the latest quarterly home-price information from the National Association of Realtors, HSH.com crunched the numbers to find the 10 metro areas where a home costs about $1,000 a month. It incorporated local property tax and homeowner's insurance costs to calculate the income needed to qualify for a median-priced home. The median price is the figure in the middle of a data set in which half of the houses are priced for less and half are priced for more.

March 1, 2019: " How Much Mortgage Can You Afford In The 25 Priciest U.S. Markets?", a Investors Business Daily consumer advisory about housing costs by Paul Katzeff used data provided by HSH.com:

Here's what you're up against. In the fourth quarter, monthly base payments for single-family existing homes ranged from $1,430 to $5,946. That was based on median purchase prices in the 25 most expensive U.S. metropolitan markets, according to HSH.com.
Monthly base payments consist of the principal, interest, taxes and insurance (PITI) that comprise typical mortgage payments.
In contrast, the monthly PITI in the 50 most populous U.S. metro areas averaged just $1,434.
That makes home buying a sport reserved for the affluent in those 25 most expensive metro areas. And that's despite the fact that those metro areas include more than just pricey downtown neighborhoods.

February 21, 2019: "This new home-equity tool is like CreditKarma for home value", a Inman News review of a new HSH.com tool by Craig C. Rowe:

If the housing bubble of the mid-2000s wasn’t enough to make home equity an everyday concern for homeowners, surely the Zestimate drove home the idea that a house should be looked at with the same level of daily interest as a checking account.
Today, the imperfect science of home value is an undercurrent in every conversation about real estate, driving sellers to reconsider when they sell and giving buyers a basis for their offers.
HSH.com, a mortgage data and industry content resource, has launched KnowEquity Tracker and Projector, a tool for homeowners to stay abreast of their property’s equity level.
It also provides a home-equity forecast, and not unlike a credit reporting tool, it encourages owners to set and pursue home-equity goals.

February 28, 2019: "7 Cities Where You'll Need A 6-Figure Salary To Afford A Median-Priced Home", a Forbes look at home affordability by Brenda Richardson referred to analysis done by Keith Gumbinger, HSH.com's vice president:

Rising home prices and high mortgage rates have challenged potential home buyers across the country, and for would-be buyers in seven cities, the bar has been set higher. A recent analysis by mortgage data provider HSH.com finds homeownership continues to be out of reach for all but the highest earners in these metropolitan areas.
To arrive at its figures, HSH.com used the latest quarterly home-price information from the National Association of Realtors. It incorporated local property tax and homeowner's insurance costs to calculate the income needed to qualify for a median-priced home.

February 26, 2019: Looking for a home in Silicon Valley? Better make $255,000", a Mercury-Times review of local housing conditions by Marisa Kendall contained a quote from Keith Gumbinger, HSH.com's vice president:

“Potential homebuyers continue to face challenging conditions,” HSH.com vice president Keith Gumbinger wrote in a news release, “given expensive and competitive housing markets.”

January 31, 2019: "Here’s What the Fed’s Halt on Interest Rates Means for Your Wallet", a New York Times update on consumer lending conditions by Tara Siegel Bernard included some analysis from HSH.com VP Keith Gumbinger:

The combination of the recent increases and changes in the tax code that restricted the interest deduction “is a bit of a double pinch for some,” said Keith Gumbinger of HSH.com, which tracks the mortgage market.
The good news related to adjustable-rate mortgages, which typically have a fixed rate for a number of years and then adjust annually, is that few people have them, Mr. Gumbinger said. But even though the Fed is done raising rates, borrowers who are already out of their fixed-rate period can expect to pay more when rates reset, if they haven’t already.

Back to HSH.com in the News — 2018