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30-Year Fixed-Rate Mortgage Surges to 7.49%

30-Year Fixed-Rate Mortgage Surges to 7.49%

by Phil Hall | Oct 5, 2023 | Current News & Events, Mortgage Information, Real Estate News, U.S. Housing Market, WRE News Exclusive

The 30-year fixed-rate mortgage spiked again, averaging 7.49% as of Oct. 5, according to new data from Freddie Mac (OTCQB: FMCC). This is up from last week when it averaged 7.31%. A year ago at this time, it averaged 6.66%. “Mortgage rates maintained their upward...
RFK Jr. Offers Proposal to Expand Homeownership

RFK Jr. Offers Proposal to Expand Homeownership

by Phil Hall | Oct 5, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Robert F. Kennedy Jr. addressed the challenges facing the housing market, with the candidate for the Democratic presidential nomination offering a plan to expand access to homeownership with a new program. In a video posted to his social media pages, Kennedy...
Home Prices Up (Again) While Inventory Shrinks (Again)

Home Prices Up (Again) While Inventory Shrinks (Again)

by Phil Hall | Oct 5, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Home prices rose on an annual basis for the second consecutive month in September while the housing inventory shrank year-over-year for a third consecutive month, according to new data from Realtor.com. September’s median list price of $430,000 was down slightly from...
Which is More Stressful: Homebuying or Dating?

Which is More Stressful: Homebuying or Dating?

by Phil Hall | Oct 4, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

In terms of apples and oranges comparisons, the contrast between homebuying and dating rarely comes up. However, the folks at Redfin (NASDAQ:RDFN) broached the topic with a survey of 1,000 Americans who bought a home in the last year. The result of that survey: nearly...
Nearly 5.5 Million Homes Are Vacant Across the Largest Metro Areas

Nearly 5.5 Million Homes Are Vacant Across the Largest Metro Areas

by Phil Hall | Oct 4, 2023 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

While housing inventory remains close to historic lows, nearly 5.5 million homes across the nation’s largest metro areas remain vacant, according to new data published by LendingTree (NASDAQ:TREE). The average vacancy rate across the 50 largest U.S. metros is 7.22%....
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