3 Next-Gen House Hunting Tips for Singles

The American household has changed – big time. More and more, people get married later in life, if at all. Many even go from married to single and back multiple times throughout their lives. This all means that more and more people are buying homes while single. Many unmarried folks are buying homes to live in on their own, while others are looking for homes to live in with their children, parents or other partners – past, present and future.
If you’re embarking upon the process of buying a home on your own, here are a few things to factor into your thought process and your action plan:

1. Solo doesn’t necessarily mean condo. A decade or two ago, many single house hunters were automatically directed toward low-maintenance condos and townhomes. And truthfully, some singles still enjoy the tax and financial advantages of ownership without the responsibilities of caring for lawns, roofs and other so-called “single family home” features they have no use for.

That said, the descriptor of a detached, standalone property as a “single family home” is woefully out of date. Many single people are electing to purchase detached homes for a number of reasons. Chief among them include:

• Needing the square footage to allow their household to expand to include future partners, future children, adult children, or even elderly parents
• Needing extra rooms (or even extra apartments!) to rent out, do hobbies in or run a home business from, and
• Having the outdoor space for dogs, cats, horses and vegetable gardens, oh my!

con't.... http://www.forbes.com/sites/trulia/2014/03/14/3-next-gen-house-hunting-tips-for-singles/

Average 30-year mortgage rate up to 4.12%

WASHINGTON (AP) – Sept. 12, 2014 – Average long-term U.S. mortgage rates rose slightly this week but remained near their lows for the year.
Mortgage company Freddie Mac said Thursday the nationwide average for a 30-year loan edged up to 4.12 percent from 4.10 percent last week, where it had stayed for three straight weeks.
The average for a 15-year mortgage, a popular choice for people who are refinancing, rose to 3.26 percent from 3.24 percent.
At 4.12 percent, the rate on a 30-year mortgage is down from 4.53 percent at the start of the year. Rates have fallen even though the Federal Reserve has been trimming its monthly bond purchases, which are intended to keep long-term borrowing rates low. The purchases are set to end next month.
Mortgage rates often follow the yield on the 10-year Treasury note. The 10-year note traded at 2.54 percent Wednesday, up from 2.41 percent a week earlier. It was trading at 2.53 percent Thursday morning.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for a 30-year mortgage was unchanged from last week at 0.5 point. The fee for a 15-year mortgage also remained at 0.5 point.
The average rate on a five-year adjustable-rate mortgage rose to 2.99 percent from 2.97 percent. The fee was stable at 0.5 point.
For a one-year ARM, the average rate increased to 2.45 percent from 2.40 percent. The fee held at 0.4 point.
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