U.S. Housing Market
Report: More Homes Selling at Discounted Prices
The typical home sold for 1.4% less than its final list price. Continue Reading Report: More Homes Selling at Discounted Prices
Report: Down Payment Level Held Steady During Q3
During the third quarter, the average down payment share remained near 14.4% of the purchase price. Continue Reading Report: Down Payment Level Held Steady During Q3
Single-Family Housing Starts Down 2.1%
Single-family housing completions in April were at a rate of 943,000, down 8% from the revised March rate of 1.02 million. Continue Reading Single-Family Housing Starts Down 2.1%
New NAR Study: Housing Affordability Gap Remains in Place
NAR found that households earning $100,000 annually can currently afford only 37.1% of home listings. Continue Reading New NAR Study: Housing Affordability Gap Remains in Place
Mortgage Rates Inch Up
The 30-year fixed-rate mortgage averaged 6.81% as of May 15. Continue Reading Mortgage Rates Inch Up
Higher housing costs force more pet owners to surrender their dogs
Source: CNBC --- Lisa Spillman can’t imagine life without her dog, an 8-year-old chihuahua mix named Rosebud. But she says her household expenses were getting tough to handle. “Everything – rent, groceries, dog food… it’s all going really high,” Spillman, 52, told...
Housing Market: Should You Buy a Fixer-Upper or a Turnkey Home?
Source: Yahoo Finance --- The current housing market means you’ll likely pay top dollar for a home that’s considered turnkey — immediately ready for you to move in. Plus, the competition is steep. Perhaps those two reasons are why 52% of American homebuyers are...
Current Mortgage Interest Rates: August 4, 2022—Mortgage Rates Trend Higher
Source: Forbes --- Today, the average rate on a 30-year fixed mortgage is 5.54%, according to Bankrate.com, while the average rate on a 15-year mortgage is 4.80%. On a 30-year jumbo mortgage, the average rate is 5.54%, and the average rate on a 5/1 ARM is 4.16%.
Seller beware: US homebuyers are backing out of deals at the highest rate since the start of the pandemic — here’s what that means for real estate
Source: Yahoo Finance --- As a well-known inflation-proof asset, real estate has been highly sought-after for most of the last two years. But things seem to be shifting. According to a new report from real estate brokerage Redfin, around 60,000 home-purchase...
Mortgage Rates Drop Below Five Percent
MCLEAN, Va., Aug. 04, 2022 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 4.99 percent. “Mortgage rates remained volatile due to the...
Mortgage applications inch up for the first time in five weeks
Source: CNBC --- Mortgage applications inched up last week for the first time since June 24. Total mortgage demand increased 1.2% as the average 30-year fixed mortgage rate made the largest weekly drop since 2020. Applications to refinance a home rose 2%, according to...
Mapped: The Salary You Need to Buy a Home in 50 U.S. Cities
Source: Visual Capitalist --- This is the Salary You Need to Buy a Home in 50 U.S. Cities Depending on where you live, owning a home may seem like a far off dream or it could be fairly realistic. In New York City, for example, a person needs to be making at least six...
Las Vegas’ housing market cooling faster than others
Source: Review Journal --- In more ways than one, Las Vegas’ housing market is getting doused with cold water. People are buying fewer homes, sellers are slashing their prices, and availability is soaring. Southern Nevada is far from alone in seeing its once-sizzling...
Redfin: These housing markets are the most at risk of falling home prices
Source: Fortune --- Homebuyers had enough. Spiked mortgage rates on top of record home price appreciation—up 42% since the onset of the pandemic—pushed monthly mortgage payments to a level that is simply unattainable for tens of millions of would-be buyers. As more...
Putting the real estate market into perspective
Source: Toronto Sun --- In so many ways, we rely on the media to provide us with information about housing markets in this hectic world. Readers and viewers, however, should look at the big picture and put news in perspective. We hear a lot about rising interest rates...
