Source: Bankrate — In a reversal from the rapid rise in recent weeks, the average rate on 30-year mortgages dipped to 5.85 percent this week from 5.91 last week, according to Bankrate’s national survey of large lenders. The Federal Reserve raised...
Source: Calculated Risk Blog — I’ve put together my own affordability index – since 1976 – that is similar to the FirstAm approach (more of a house price index adjusted by mortgage rates and the median household income). I used median income from...
Source: Nerdwallet — A 10-year adjustable-rate mortgage offers a fixed rate for the first 10 years of the loan. After that, the interest rate resets every six months. Many homeowners opt to refinance or sell their property before the rate starts to change. So...
Source: Bankrate — One of the biggest decisions divorcing couples face is what to do with the marital home. If the breakup is acrimonious, trying to agree on the house and the mortgage can be a nightmare. The options for divorcing couples depend on a number of...
Source: Mortgage News Daily — It’s one of the perennial “yeah buts” of the two largest and most widely-cited home price indices: there data is always about 2 months old by the time it comes out. This is the nature of home price reporting. It...
Source: Fox 5 — Roughly half of all Americans agree a lack of affordable housing in their city is a major problem, according to a 2021 Pew Research Center survey. Pew also found a proportion of Americans concerned about dwindling housing affordability has grown...
Hits and Misses for the Real Estate Week of May 11-15
