It can be a complicated decision to determine if you should rent or buy a home. And if youâre leaning toward buying, high housing prices and high mortgage rates are likely making that decision even more difficult. Current economic conditions ⦠Continue reading â
The post Is a House an Investment? appeared first on SmartAsset Blog.
Homebuyers need more than falling mortgage rates to jump back into the market ABC News
Buyers continue to feel the pinch from high mortgage rates and still-elevated home prices. But those committed to buying a new home are really committed, LOs said.
“Higher mortgage rates and home prices led to continued erosion in homebuyer affordability in February,” said Edward Seiler, MBA’s associate vice president of housing economics. “Many prospective homebuyers continue to feel this affordability squeeze, with the typical purchase application loan amount increasing $8,003 over the month to $320,003.” Other key findings were: The national median … [Read more…]
Freddie Mac’s Primary Mortgage Market Survey showed on Thursday that the 30-year fixed-rate mortgage at 6.42% as of March 23, down 18 basis points from the previous week.
With home prices reaching record highs, many Americans are waiting for âthe right time to buy.â That time may never come. On todayâs podcast with BiggerPocketsâ David Greene, we discuss the factors driving current market conditions and speculate on just how expensive homes could be in years to come. Itâs a scary thought, but this might be working-class America’s last shot at homeownership. Hear why on this State of the Market.
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Mortgage rates, which climbed one day and dropped the next after the bank failures, will be volatile before stabilizing, experts say.
Down payments are falling as the housing market slows and competition wanes. A new report from Redfin revealed that the median down payment in January 2023 was 10%, down from 13.6% a year earlier and well off the pandemic-era peak of 17.5% last May. They are now similar to levels seen between 2015 and early… Read More »Median Down Payment on a House Falls to 10%, Down from 14% a Year Ago
The post Median Down Payment on a House Falls to 10%, Down from 14% a Year Ago appeared first on The Truth About Mortgage.
Million-Dollar Homes Are Less Common As High Mortgage Rates Cool The Market Forbes
Limited availability of for-sale homes to start 2023 has created concerns among aspiring home buyers as spring begins, according to two new housing research reports. A little under 830,000 properties were on the market at some point in February, economists at Zillow said in its monthly housing report. The number is the second lowest figure … [Read more…]