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Zillow: You Need to Make $106,000 to ‘Comfortably Afford’ to Buy a Home

Zillow: You Need to Make $106,000 to ‘Comfortably Afford’ to Buy a Home

by Phil Hall | Feb 29, 2024 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

What a difference four years makes – a new data analysis from Zillow (NASDAQ:Z, ZG) found today’s home buyers need to make more than $106,000 to “comfortably afford” a residential property purchase. That sum is 80% more than the money required for the same purchase in...
Mortgage Rates Creep Up to the 7% Level

Mortgage Rates Creep Up to the 7% Level

by Phil Hall | Feb 22, 2024 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Mortgage rates shot up to the border of the dreaded 7% mark in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.90% as of Feb. 22, up from last week when it averaged 6.77%. A year ago at this...
Mortgage Rates Rise Again

Mortgage Rates Rise Again

by Phil Hall | Feb 15, 2024 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Mortgage rates were back on the rise, according to the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.77% as of Feb. 15, up from last week when it averaged 6.64%. A year ago at this time, it...
Mortgage Rates Remain Stagnant

Mortgage Rates Remain Stagnant

by Phil Hall | Feb 8, 2024 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The 30-year fixed-rate mortgage averaged 6.64% as of Feb. 8, recording a scant uptick from last week when it averaged 6.63%, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). A year ago at this time, it averaged 6.12%. The 15-year...
Mortgage Rates Continue to Drop

Mortgage Rates Continue to Drop

by Phil Hall | Feb 1, 2024 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

The 30-year fixed-rate mortgage averaged 6.63% as of Feb. 1, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). This is down last week when it averaged 6.69%, and it is up from the 6.09% average of one year ago at this time. The...
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