Mortgage rates continued to slide in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.76% as of May 1, down from last week when it averaged 6.81%. A year ago at this time, it averaged 7.22%....
American households need to earn $114,000 annually to afford a median-priced home, according to new data report from Realtor.com. Since pre-pandemic 2019, the income required to afford the median-priced home has jumped 70.1% from $67,000. Five of the 10 markets with...
Residents in New York City’s rent-stabilized apartments will soon be paying more to cover their housing costs. Nearly one million New Yorkers live in rent-stabilized apartments. The typical monthly cost of a rent-stabilized apartment in the city is roughly $1,500,...
Pending home sales surged by in March, marking the greatest month-to-month increase since December 2023. The National Association of Realtors’ (NAR) Pending Home Sales Index was up by 6.1% month-over-month to a reading of 76.5 in March; an index of 100 is equal to the...
When it comes to being in the right place at the right time, home sellers may wish to consider a new data analysis by ATTOM that found the months of May, February and April offer the highest seller premiums. In a number-crunch of more than 47 million single-family...
Mortgage application activity weakened during the week ending April 25, according to data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, decreased 4.2% on a seasonally adjusted basis from...
