Homebuyers Beware: The Fed Just Jammed Another Wrench Into the Spring Housing Market
On the precipice of the hotly anticipated spring housing market, the U.S. Federal Reserve just dealt homebuyers another crushing blow.
Danielle Hale
U.S. Has a Shortfall of 6.5 Million Single-Family Homes Due to a Decade of Under-Building, Report Says
When buyers return to the housing market, it wonât be easy to find affordable homes due to lack of new construction, according to Realtor.com.
The housing market is 6.5 million units short: Realtor.com
Between 2012 and 2022, about 14.6 million households were formed, but only 11.9 million housing units were completed.
5 housing markets where it’s cheaper to buy than rent
High home prices have driven many prospective borrowers to rent, but escalating monthly rates have evened the playing field in some of the nation’s larger metros. Today it’s cheaper to rent in 45 of the nation’s 50 largest housing markets, a ratio that has grown significantly since the end of 2021, according to Realtor.com. Mortgage … [Read more…]
Mortgage rates dropped again, so why are some borrowers on the sidelines?
Survey data from Freddie Mac shows the 30-year fixed-rate mortgage rate slowed its downward trajectory this week, declining three basis points from last week to 6.41%.
‘Good news’ for the spring homebuying season as mortgage rates melt, but economists warn ‘finding a deal remains an elusive quest’ – Yahoo Finance
‘Good news’ for the spring homebuying season as mortgage rates melt, but economists warn ‘finding a deal remains an elusive quest’ Yahoo Finance
Mortgage rates are down, but not enough for most borrowers
The average 30-year fixed-rate mortgage rate decreased to 6.33% this week, down 16 basis points compared to the previous week, according to the latest Freddie Mac survey.
Mortgage rates rise back above 7% – CNN
Mortgage rates rise back above 7% CNN
The 10 top markets for first-time homebuyers in 2023
Newcomers to the market still face mortgage rates above 6% and lofty home prices, but they can secure strong investments in some up-and-coming towns minutes away from major metropolitan centers, according to Realtor.com. “For those with a bit of flexibility in where they live, there are markets where young buyers can find not just a … [Read more…]
Mortgage rates take a breather after rising for several weeks in a row – CNN
Mortgage rates take a breather after rising for several weeks in a row CNN