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5 US Real Estate Predictions for 2023
Source: The Street --- Shakespeare had it right when he said, “I’ll give a thousand furlongs of open sea for an acre of barren ground.” U.S. homebuyers know exactly where the Bard of Avon was coming from on the real estate front. In 2022, many buyers were locked out...
Wells Fargo Fined $3.7 Billion for Mismanaging Auto Loans, Mortgages, Checking, and Savings Accounts
Source: The Ascent --- Many consumers have struggled to keep up with their auto and mortgage loan payments this year due to surging inflation. And many have depleted their savings balances due to the higher living costs they've been forced to grapple with over the...
Home buyers get some relief as mortgage rates come off 7% highs
Source: Los Angeles Times --- In October, mortgage interest rates topped 7% for the first time in two decades, the latest milestone reached this year amid a surge in borrowing costs. But potential home buyers may have noticed something different recently: Rates are...
Mortgage rates fall for the sixth week in a row
Source: Yahoo! News --- Mortgage rates dropped for the sixth straight week, but housing activity remained muted going into the holidays. The rate for the average 30-year fixed mortgage slipped to 6.27% from 6.31% the week prior, according to Freddie Mac. Rates have...
Housing Market Supply Is Keeping Prices From Crashing
Source: Newsweek --- Housing inventory in the U.S. decreased between October and November this year, underscoring a housing shortage that some experts believe is helping to keep soaring prices from dramatically plummeting. The National Association of Realtors (NAR)...
How do fixed-rate mortgages work? Is a fixed-rate loan best?
Source: The Mortgage Reports --- What is a fixed-rate mortgage? In mortgage terms, a fixed rate means the interest rate remains the same for the life of your home loan — keeping your monthly principal and interest payment consistent. The rate on a fixed mortgage is...
