Mortgage rates have been moving in the wrong direction for homebuyers, but I believe there is reason to be optimistic about where they could be headed over the next several months. The average 30-year fixed mortgage rate recently climbed to 7.40%, according to Freddie Mac, its highest level in nearly three years. That’s certainly not […]
The Federal Reserve raised interest rates Wednesday for the first time in more than three years, and for anyone who owns, buys or invests in real estate, this is something worth paying attention to. The Federal Reserve increased its benchmark rate by a quarter percentage point, bringing its target range to 3.75% to 4%. Why […]
Mortgage rates have moved down to roughly 6 percent, their lowest level in more than three years. After a prolonged stretch above 7 percent, that shift meaningfully improves affordability and has the potential to bring sidelined buyers back into the market. The larger question for 2026 is not whether demand returns. It is whether housing […]
Mortgage rates broke out of their recent holding pattern, rising sharply last week and triggering a noticeable slowdown in application volume. Total mortgage applications fell 5.1%, per the Mortgage Bankers Association’s latest seasonally adjusted data. The average 30-year fixed mortgage rate for loans under $806,500 climbed to 6.92%, up from 6.86% the week prior. Borrowers […]
One of the greatest challenges facing home buyers in recent years is that there simply haven’t been enough properties available on the market. Low inventory drives competition and increases home prices, which pinches buyers already strained by high mortgage rates. The welcome news is that home inventory is showing signs of a rebound. Housing Wire […]
About four in five people in the United States believe owning a home is a benchmark of achieving the “American dream,” according to Bankrate’s recent Home Affordability report. But is it the right move in a difficult housing market? The median price of a home in the U.S. is about $420,000. Rates for a 30-year […]
Entering 2024, many prospective home buyers were optimistic about the possibility of mortgage rates declining enough for them to broaden their options when house shopping. But entering the typically busy spring market, the Federal Reserve still hasn’t moved to slash the benchmark interest rate that tends to pull down mortgage rates with it. There’s still […]
The total value of the U.S. housing market climbed 5.3% last year to $47.5 trillion, rising by $2.4 trillion amid an ongoing shortage of homes, according to new data. Redfin reported that a major factor in the nation’s increasing home values is the reluctance of homeowners to list their properties for sale. The so-called “lock […]
The end of 2023 has brought the first hints of a softening of the housing market that could awaken buyer demand and entice more home owners to list their properties for sale. The average rate for the 30-year fixed mortgage fell again this week to 6.61%, now down more than a full point from 7.79% […]
People interested in buying homes in the U.S. continue to see affordability erode in a market that has made ownership prohibitively expensive for the average American. The median U.S. home price stood at $420,000 in November, down a bit from $425,0000 in October but up about 1% from last November. The real challenge for buyers […]
