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Homeownership Could Be in Reach with Down Payment Assistance Programs
Source: Keeping Current Matters --- A recent survey from Bankrate asks prospective buyers to identify the biggest obstacles in their homebuying journey. It found that 36% of those polled said saving for a down payment is one of their primary hurdles to buying a home....
Latest mortgage news: After flirting with 6%, rates retreat
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...
Here are 3 ways to deal with inflation, rising rates and your credit
Source: CNBC --- As many consumers struggle to make ends meet and cover the rising costs of groceries, gas and nearly everything else, about three in five U.S. consumers admit they are living paycheck to paycheck, according to a new survey. In addition, more than 25%...
Worst Housing Affordability” since 1991 excluding Bubble; Real House Prices and Price-to-Rent Ratio in April
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 the Census...
Study Reveals Iowa Is The Most Affordable State To Purchase a Property in The US
Iowa is the state most affordable to purchase a property -- the median house price sits at 3.10 times the average household income Hawaii is the most expensive place to buy a property in the U.S. right now -- the median property is 10.77 times higher than the annual...
What Is a 10-Year Adjustable-Rate Mortgage?
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 why...
