Equifax

Finance Blog

Stay financially savvy with the Equifax Advisor.

Sign up for our FREE Monthly Email Newsletter

 

Thank you for signing up for the FREE Equifax monthly newsletter

In addition to keeping in the financial know, you may be interested in checking your credit score and report.

Understand your credit. Help protect your identity.

Equifax Complete™ Premier Plan

  • Know What May Influence Your Credit Score and Be Alerted of Changes
    Credit score monitoring with custom alerts
    Important Disclosure: The Equifax credit score and 3-Bureau credit scores are based on an Equifax credit score model and are not the same scores used by 3rd parties to assess your creditworthiness.¹
  • Help Protect Your Identity
    Automatic fraud alerts encourages lenders to take extra steps to verify your identity²
  • Lock Your Credit
    The ability to lock and unlock your Equifax Credit Report³
Save 75% your first 30 days with the purchase of Equifax Complete™ Premier

$4.95 for the first 30 days, then $19.95 per month thereafter. You may cancel at any time; however, we do not provide partial month refunds.4

¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.

³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.

4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.

Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.

Housing Market Predictions: Good & Bad News For Real Estate

Written by Ilyce Glink on October 4, 2011 in Real Estate  |   2 comments

The U.S. real estate market took a big hit when the housing bubble burst in 2008, but August housing numbers indicate a slight upswing in home sales from a year ago. It’s been hard to stay optimistic for housing market predictions with tight credit markets…

The U.S. real estate market took a big hit when the housing bubble burst in 2008, but August housing numbers indicate a slight upswing in home sales from a year ago. It’s been hard to stay optimistic for housing market predictions with tight credit markets and a summer full of natural disasters. However, we’re seeing some bright spots as the National Association of Realtors (NAR) is reporting year-over-year gains in both pending and existing home sales. Existing home sales fared better than pending and new home sales month-to-month: increases were seen in all regions, up over 7 percent from July.

Best news for the housing market: People are taking advantage of low mortgage rates.
Existing home sales experienced the biggest jump year-over-year, too, up over 18 percent from August 2010. Lawrence Yun, NAR chief economist, says rising rents and falling mortgage rates laid the groundwork for this increase. “Some of the improvement in August may result from sales that were delayed in preceding months, but favorable affordability conditions and rising rents are underlying motivations.”
For buyers who could obtain mortgages, historically low mortgage interest rates and competitive prices on existing homes proved too good to pass up this summer.

Good news for the housing market: Pending home sales have increased.
Year-over-year increases were also seen in pending home sales, despite a slight decrease from July to August. Nationwide, pending home sales rose 7 percent from August 2010 but decreased 1 percent month-over-month.

Bad news for the housing market: More contracts are falling through and sales aren’t being completed.
NAR reported a contract failure rate of 18 percent due to declined mortgage applications or failures in loan underwriting. That’s up from 16 percent in the prior month. Homes that went under contract in July, and helped boost numbers for that month, fell apart in August and contributed to the month-over-month decrease.

The U.S. Department of Commerce reveals it might be more than tight credit markets and low appraisals that contributed to that high rate of contract failure. Earnings fell slightly during the same period the decrease in pending home sales occurred, suggesting some deals may have fallen apart due to lack of funds on behalf of the buyers. Even with the positive news of year-over-year increases, a high rate of contract failure still raises concerns.

This data suggests we are in a better place than a year ago but still have quite a ways to go. The most recent S&P/Case-Shiller Home Price Index reveals four consecutive months of increasing home values, but even those prices are below where they were a year ago. Yun says we will “continue to see financially qualified home buyers, willing to stay well within their means, be denied credit,” a factor which will certainly influence the market in the future.

What happens over the next few months will be telling; the summer data is representative of a market at the peak of activity and numbers may fall over the next few months due to lack of demand. However, falling interest rates and higher rents may persuade people on the fence about buying to jump into the housing market.

READ MORE:
The Beginning of the End of the Foreclosure Era
Property Taxes: 6 Ways To Get Your Property Taxes Reduced
Mortgage Rates, Programs, and Fees: FAQs From Ilyce Glink
Help Is on the Horizon for Unemployed Homeowners


Ilyce R. Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate atThinkGlink.com and at the Home Equity blog for CBS MoneyWatch.

2 comments

Commenting guidelines

We welcome your interest and participation on this forum, but be aware that comments will be published at Equifax's sole discretion. Please don't use this blog to submit questions or concerns about your Equifax credit report or raise customer service issues. Instead, you should contact Equifax directly for all such matters and any attempts to do so in this forum will be promptly re-directed.

Some other factors to consider when commenting:
  1. Registration and privacy. While no registration is required to visit our forum, participants wishing to post a message must register by creating an account. All personal information provided by forum members incident to registration is governed by our Terms of Use and Privacy Policy.
  2. All comments are anonymous. We'll delete your name, e-mail address, and any other identifying information, including details about your investments.
  3. We can't post or respond to every comment - As much as we'd like to, we can't post every comment, nor can we guarantee that we will respond to each individual message. All questions or comments about your Equifax credit report or similar customer service issues should be handled by contacting Equifax directly.
  4. Don't offer specific legal, tax or financial advice. All of the materials on this Site are for information, education, and noncommercial purposes only and this forum is not intended as a means of expressing views or ideas regarding any specific legal, tax, or investment advice. While offering general rules of thumb is both permitted and encouraged, recommending specific ideas or strategies regarding investments, taxes, and related matters is prohibited.
  5. Credit Repair. This blog is not intended as a venue for the discussion or exchange of ideas regarding credit repair or other strategies intended to assist visitors and community members improve or otherwise modify their credit histories, ratings or scores.
  6. Stay on topic. Your comment should be concise and pertain to the specific post in question.
  7. Be respectful of the community. The use of profanity, offensive language, spam, and personal attacks will not be tolerated and egregious or repeat offenders will be banned from future participation. We encourage disagreement and healthy debate, but please refrain from personal attacks on our WordPresss and contributors.
  8. Finally: Participation in this forum may be terminated by Equifax immediately and without notice for failure to comply with any guidelines or Terms of Use. As such, you should familiarize yourself with all pertinent requirements prior to submitting any response through the blog or otherwise. All opinions expressed in this forum are solely those of the individual submitting the comment, and don't necessarily represent the views of Equifax or its management.

Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.


Real Estate Archive