Headlines: The real estate roller coaster; 7 mortgage myths debunked

Headlines: The real estate roller coaster; 7 mortgage myths debunked
It's cheaper to buy than rent in the District, according to a recent Zillow report, yet home sales are down 1% from this time last year.
Here's a look at what's happening in real estate in the District of Columbia and beyond. 

Buying trumps renting in Washington

A Washington resident making the region's median household income is spending an average of 18.1 percent of monthly income on a mortgage payment, according to report from Zillow. Renters are spending an average 27.1 percent. -Washington Business Journal

DC region's housing market remains stalled

According to data released Wednesday by RealEstate Business Intelligence, a subsidiary of MRIS, sales of homes in the D.C. metro region fell to 3,036, a decrease of 1 percent compared to November 2013.  -Washington Post

Renting is twice as expensive as buying: Zillow

On average, homebuyers making the nation’s median income and purchasing the typical U.S. home spend 15.3% of their income on their monthly house payment, down from the historical norm of 22.1% during the pre-bubble period from 1985 to 1999. -Housing Wire

3% down payments may be a game changer

Mortgage giants Fannie Mae and Freddie Mac announced Monday that first-time home buyers can now qualify for loans with down payments as low as 3 percent. That will expand credit for qualified home shoppers who may have been sidelined the last few years because of higher down-payment requirements, housing analysts say. -Realtor Magazine

7 myths millennials believe about mortgage lending

Millennials are forecasted to be a driving force in housing in 2015, with the majority of them being first-time homeowners. -Housing Wire

Real estate agent builds roller coaster house tour (video)

Dutch real estate broker Verder met Wonen found the perfect way to give tours to potential homebuyers: send them for a ride on a custom-built roller coaster through the house. -Distractify

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