affordability

Mortgage Rates Would Need to Rise to 7% Before Median Home Unaffordable

Just about everyone knows mortgage rates have shot up rather dramatically recently. And now some of the major market players are actually addressing the matter, which seems a tad unusual. This morning, mortgage financier Freddie Mac discussed how 30-year fixed mortgage rates have increased about 40 basis points (0.40%) since May, rising from the 3.5% [&hellip

The post Mortgage Rates Would Need to Rise to 7% Before Median Home Unaffordable first appeared on The Truth About Mortgage.

Fannie Economist: Rising Mortgage Rates Should Slow Purchases, Not Lower Prices

A new commentary written by Fannie Mae’s Vice President of Applied Economic and Housing Research, Mark Palim, aims to put fears of rising rates to bed. In the analysis posted on Fannie’s website, Palim notes that the recent increase in mortgage rates shouldn’t derail the nascent, yet rather fragile housing recovery. But surely one would [&hellip

The post Fannie Economist: Rising Mortgage Rates Should Slow Purchases, Not Lower Prices first appeared on The Truth About Mortgage.

What Mortgage Term Is Best?

Mortgage Q&A: “What mortgage term is best?” Before you set out to snag the lowest rate on your purchase mortgage or mortgage refinance, you’ll need to decide on (or at least narrow down) a mortgage term. I’m referring to the amount of time it will take to pay off your home loan in full. The [&hellip

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Hovnanian: Higher Mortgage Rates Will Just Lead to Smaller Homes

During an interview with CNBC this morning, Ara Hovnanian of K. Hovnanian Homes expressed that he’s not worried about higher mortgage rates hurting the housing market. In fact, the mega home builder’s CEO actually thinks we’re in the “early innings” of the housing recovery, noting that housing starts are still way below the expected average [&hellip

The post Hovnanian: Higher Mortgage Rates Will Just Lead to Smaller Homes first appeared on The Truth About Mortgage.

Only 36% of Buyers Can Afford a Home in California, Lowest Share Since 2008

As I warned over the past few weeks, affordability is becoming a major issue for the overheated housing market. And we’re finally beginning to see a few pieces of data that back up these concerns. This morning, the California Association of Realtors released a troubling report about housing affordability in the Golden State. The group [&hellip

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Chart: Housing Affordability Set to Fall Off a Cliff

The National Association of Realtors will always be the first ones to tell you that housing is either highly affordable, still affordable (!), or that buying a home remains a great move even if housing affordability is low. After all, they represent real estate agents, or rather, Realtors®, whose livelihood depends on selling homes, lots [&hellip

The post Chart: Housing Affordability Set to Fall Off a Cliff first appeared on The Truth About Mortgage.

The Best Places to Live in Montana in 2021

Moving to Montana? Consider these picturesque towns.

The post The Best Places to Live in Montana in 2021 appeared first on Rent Blog.

Look: Mortgage Rates Are Still Historically Cheap

I feel like I’ve been going on and on about mortgage rates lately, but for good reason. After hovering at or near record lows for such a long period of time (it seemed indefinite), the party finally came to a sudden halt, and now we’re seeing extraordinary rate increases. This sudden reversal of fortune has [&hellip

The post Look: Mortgage Rates Are Still Historically Cheap first appeared on The Truth About Mortgage.

Marriage and Mortgage May Not Mix

Marriage or Mortgage? The premise of the new Netflix show “Marriage or Mortgage” is simple. It pits a wedding planner against a real estate agent. The prize, if you want to call it that, is getting the spouses-to-be to go in one direction over the other. In this case, an over-the-top wedding versus a dream [&hellip

The post Marriage and Mortgage May Not Mix first appeared on The Truth About Mortgage.