Today: 5. Nov, 2024
Mortgage rates have hit their highest levels since August, sparking a significant drop in demand from homeowners and potential buyers alike. As interest rates climb for the third consecutive week, many borrowers are reconsidering their plans, leading to a 17% decline in…
As mortgage rates hover around 6%, homebuyers seek creative alternatives to reduce interest costs. One increasingly popular option is the assumable mortgage, a method that allows buyers to inherit an existing mortgage rate, which could be as low as 2% or 3%.…
Mortgage demand took a hit as interest rates sharply rose, causing both homebuyers and homeowners to hesitate. According to the Mortgage Bankers Association’s seasonally adjusted index, the total mortgage application volume fell 5.1% last week compared to the previous week, reflecting the…
The U.S. housing market has been challenging for many potential buyers, but recent developments suggest that conditions might be improving, though affordability remains a significant hurdle. A combination of lower mortgage rates and increased inventory is offering some relief, but experts caution…
The housing market continues to be a hot topic of discussion, especially with the Federal Reserve’s influence on mortgage rates. Rocket Companies CEO Varun Krishna recently shared insights on how rate cuts have already been factored into current mortgage rates. In a…
As fall approaches, prospective homebuyers are anticipating a potential interest rate cut from the Federal Reserve and facing the possibility of complications related to flood insurance. Without timely action from Congress, a crucial program may lapse, making it challenging to buy, sell,…
According to a recent report, this summer has brought a slight improvement in home affordability for buyers. The median new mortgage payment decreased to $2,167 in June, a 2.4% decline from $2,219 in May, as the Mortgage Bankers Association (MBA) reported. While…
Mortgage interest rates dipped slightly last week but failed to entice many potential homebuyers. Despite this modest decrease, the overall demand for home loans continues to drop as buyers hold out for more significant rate cuts. Rates Drop Marginally The average contract…
The 30-year fixed-rate mortgage is a distinctly American phenomenon in the global housing market landscape, shaping how U.S. homebuyers finance their homes. According to Greg McBride, chief financial analyst at Bankrate, “The 30-year fixed-rate mortgage is a uniquely American construct,” highlighting its…
As the spring housing market grapples with numerous challenges, including low supply, elevated prices, and surging interest rates, new home sales have surprisingly moved upward. Despite the deterrent of 7% mortgage rates, new construction draws attention with better incentives and availability than…
