multiple listing service

Apache is functioning normally


Washington, DC
CNN
 — 

The Federal Reserve hiked its benchmark lending rate this week for the seventh time this year, capping a year of intense pressure on the housing market that pushed mortgage rates above 7% for the first time since 2002.

But now that the Fed has signaled a softer approach to cooling the economy instead of rolling out bumper rate hikes, potential home buyers are left to wonder: Will mortgage rates come back down? Or have buyers missed their chance?

No one knows exactly where mortgage rates will go in the months ahead. But most experts agree that we have seen the end of 3% mortgages for some time.

Mortgage rates have run up so far and so fast this year that many would-be homebuyers can no longer afford to buy a home. At the end of 2022, when rates were at 3%, few predicted that just a year later rates around this week’s 6.33% would come as a relief, having dropped from over 7%.

After starting the year at an average 3.22%, according to Freddie Mac, the 30-year fixed-rate mortgage took off last spring as the Federal Reserve embarked on a historic campaign to battle decades-high inflation by raising interest rates. By fall, mortgage rates had more than doubled, eventually topping 7% in October. Rates have receded slightly in recent weeks, but loans are still expensive — especially compared to the historically low rates buyers were getting during the pandemic.

Home shoppers have watched their buying power evaporate, with higher rates adding hundreds of dollars onto what they would pay each month.

High mortgage rates remain the primary impediment to home buying, according to a recent buyer and seller sentiment survey conducted by Fannie Mae. Homebuying and home-selling sentiment are both significantly lower than they were last year.

Based on the survey, people in the real estate market continue to expect mortgage rates to rise but home prices to decline, said Doug Duncan, Fannie Mae senior vice president and chief economist.

He said he expects mortgage demand to be dampened by affordability challenges, while “homeowners with significantly lower-than-current mortgage rates may be discouraged from listing their property and potentially taking on a new, much higher mortgage rate.”

Is this the new normal?

While the Fed’s rate hikes are expected to continue, many analysts anticipate they will be smaller than the recent bout of three-quarter-point hikes and will start to taper off as inflation starts to cool, which should mean mortgage rates will likely come down too.

The Fed does not set the interest rates borrowers pay on mortgages directly. But its actions influence them. Mortgage rates tend to track the yield on 10-year US Treasury bonds, which move based on a combination of anticipation about the Fed’s actions, what the Fed actually does and investors’ reactions. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow.

If rates do drop, just how low will they go?

“If inflation continues to decelerate over the next several months, mortgage rates will likely stabilize below 7%,” said Nadia Evangelou, senior economist and director of forecasting at the National Association of Realtors. “That’s still double the previous year’s rate, but it’s better than an 8% rate, which is the historical average for the 30-year fixed mortgage.”

Looking ahead, Melissa Cohn, regional vice president at William Raveis Mortgage, said buyers should expect rates to level off in 2023 around where they were in the years before the pandemic — around 4% or 5%.

“We had an active and healthy real estate market then,” she said.

But Cohn said she does not expect a “meaningful” decline in mortgage rates until the third or fourth quarter of 2023. “Mortgage rates will drop a bit in December, we’ll see a brief flurry of activity, but there are likely to be more increases in the new year.”

And don’t expect to see rates drop at the same speed at which they rose this year, she said.

“We have to remember mortgage rates come down much slower than they go up,” said Cohn. “Banks will want to see proof that rates are meaningfully coming down and not a one-shot wonder.”

The weekly swings in mortgage rates this year have been about three times the size of those seen in a typical year, said Danielle Hale, chief economist at Realtor.com. The Fed’s extra-large rate hikes aren’t the only thing causing that.

Economic uncertainty is creating a larger gap or “spread” between the 10-year Treasury yield and mortgage rates. Typically, mortgage rates are about two percentage points above the 10-year Treasury yield, but recently the gap has been wider.

The main driver of the widening spread is greater interest rate risk, according to a recent report from the Urban Institute.

“The uncertainty about the effects of Fed policy to date and about the trajectory of future policy has resulted in large movements in interest rates,” wrote Laurie Goodman and Michael Neal, the report’s authors.

Consumer mortgages are packaged and sold off to investors. The higher myeortgage rates are, the more money investors can make. But as rates fall, more homeowners will choose to prepay their mortgages or refinance, making the loans less attractive to investors.

“Volatility increases the level of mortgage rates, compared to Treasury rates, because of the prepayment option,” said Chester Spatt, professor of finance at Carnegie Mellon University’s Tepper School of Business. “If you’re in a new loan at 7% and rates go to 6%, you may choose to prepay and refinance into a lower rate.”

It is abnormal to have such a large spread, said Lawrence Yun, chief economist for NAR, adding that other times when the spread was wider were during the 2008 financial crisis and the early days of the pandemic.

“Hopefully this large spread will dissipate by the spring home buying season,” he said. “If so, maybe buyers will face mortgage rates in the 5’s.”

What buyers can expect

Lisa Sturtevant, chief economist at Bright MLS, a multiple listing service in the mid-Atlantic region, also expects mortgage rates to fall further in 2023, but she doesn’t expect them to drop quickly.

“We were in unprecedented territory with rates under 3%,” she said. “There is no reason to suggest we will be back there. But they will be down from where we’ve been.”

“Housing market activity will continue to be relatively sluggish — even if mortgage rates do begin to come down — since so many existing homeowners are locked into sub-3% loans and will still not be eager to move into a higher rate,” she said.

As a result, the inventory of available homes for sale will remain tight into 2023. In many markets this could guard against prices dropping by a significant amount.

“Prospective buyers may be tempted to try to ‘time’ rates to jump into the market when rates dip,” she said. “But timing rates is difficult.”

Instead, would-be buyers should shop around, getting quotes from multiple lenders, including different types like a large national bank, an online lender or a community bank or credit union.

“There is a lot of variability in rates, terms, and mortgage products in this changing market,” Sturtevant said. “It is more important than ever that buyers compare offers from different lenders to find the financing that works best for them.”

Source: cnn.com

Apache is functioning normally

National mortgage rates were mostly lower compared to a week ago, according to data compiled by Bankrate. Rates for 30-year fixed, 15-year fixed and jumbo loans moved lower, while rates for adjustable rate mortgages rose.

The Federal Reserve has raised rates 10 times in a row, most recently at its May 3 meeting. Rates now are at a 15-year high, but the consensus is that inflation is finally cooling and the central bank might halt raising rates.

”Mortgage rates have settled into a new normal of around 6.5 percent on a 30-year fixed-rate loan,” says Lisa Sturtevant, chief economist at Bright MLS, a large multiple listing service in the Middle Atlantic region. ”With growing recession risks, we could see mortgage rates dip lower, but we will not be returning to the 3 percent level seen during the height of the pandemic.”

Rates as of June 5, 2023.

These rates are marketplace averages based on the assumptions here. Actual rates listed across the site may vary. This story has been reviewed by Suzanne De Vita. All rate data accurate as of Monday, June 5th, 2023 at 7:30 a.m.

>>See historical mortgage interest rate movements

You can save thousands of dollars over the life of your mortgage by getting at least three rate quotes. Comparing mortgage offers from multiple lenders is always a smart move, but shopping around grew especially critical during the interest rate run-up of 2022, according to research by mortgage giant Freddie Mac. It found the payoff for bargain-huntng borrowers doubled last year.

“All too often, some homeowners take the path of least resistance when seeking a mortgage, in part because the process of buying a home can be stressful, complicated and time-consuming,” says Mark Hamrick, senior economic analyst for Bankrate. “But when we’re talking about the potential of saving a lot of money, seeking the best deal on a mortgage has an excellent return on investment. Why leave that money on the table when all it takes is a bit more effort to shop around for the best rate, or lowest cost, on a mortgage?”

Mortgage rates for home purchase

30-year mortgage falls, -0.20%

The average rate you’ll pay for a 30-year fixed mortgage is 6.99 percent, down 20 basis points since the same time last week. A month ago, the average rate on a 30-year fixed mortgage was lower, at 6.87 percent.

At the current average rate, you’ll pay $664.63 per month in principal and interest for every $100k you borrow. That’s lower by $13.48 than it would have been last week.

The 30-year mortgage is the most popular option for borrowers. It has a number of advantages. Among them:

  • Lower monthly payment. Compared to a shorter-term mortgage, such as 15 years, the 30-year mortgage offers more affordable monthly payments spread over time.
  • Stability. With a 30-year mortgage, you lock in a consistent principal and interest payment. Because of the predictability, you can plan your housing expenses for the long term. Remember: Your monthly housing payment can change if your homeowners insurance and property taxes go up or, less likely, down.
  • Buying power. With lower payments, you can qualify for a larger loan amount and a more expensive home.
  • Flexibility. Lower monthly payments can free up some of your monthly budget for other goals, like building an emergency fund, contributing to retirement or college tuition, or saving for home repairs and maintenance.
  • Strategic use of debt. Some argue that Americans focus too much on paying down their mortgages rather than adding to their retirement accounts. A 30-year fixed mortgage with a smaller monthly payment can allow you to save more for retirement.

15-year mortgage moves lower,-0.24%

The average rate you’ll pay for a 15-year fixed mortgage is 6.37 percent, down 24 basis points since the same time last week.

Monthly payments on a 15-year fixed mortgage at that rate will cost around $864 per $100k borrowed. Yes, that payment is much bigger than it would be on a 30-year mortgage, but it comes with some big advantages: You’ll come out several thousand dollars ahead over the life of the loan in total interest paid and build equity much more quickly.

5/1 ARM rate moves upward, +0.02%

The average rate on a 5/1 adjustable rate mortgage is 6.02 percent, climbing 2 basis points over the last week.

Adjustable-rate mortgages, or ARMs, are mortgage terms that come with a floating interest rate. In other words, the interest rate can change periodically throughout the life of the loan, unlike fixed-rate loans. These loan types are best for people who expect to refinance or sell before the first or second adjustment. Rates could be substantially higher when the loan first adjusts, and thereafter.

While borrowers shunned ARMs during the pandemic days of super-low rates, this type of loan has made a comeback as mortgage rates have risen.

Monthly payments on a 5/1 ARM at 6.02 percent would cost about $601 for each $100,000 borrowed over the initial five years, but could ratchet higher by hundreds of dollars afterward, depending on the loan’s terms.

Jumbo mortgage declines, -0.22%

The average rate you’ll pay for a jumbo mortgage is 6.98 percent, a decrease of 22 basis points over the last week. This time a month ago, the average rate for jumbo mortgages was lesser, at 6.94 percent.

At today’s average jumbo rate, you’ll pay $663.96 per month in principal and interest for every $100,000 you borrow. Compared with last week, that’s $14.83 lower.

Rate review: How interest rates have shifted over the past week

  • 30-year fixed mortgage rate: 6.99%, down from 7.19% last week, -0.20
  • 15-year fixed mortgage rate: 6.37%, down from 6.61% last week, -0.24
  • 5/1 ARM mortgage rate: 6.02%, up from 6.00% last week, +0.02
  • Jumbo mortgage rate: 6.98%, down from 7.20% last week, -0.22

Refinance rates

Current 30 year mortgage refinance rate trends down, –0.15%

The average 30-year fixed-refinance rate is 7.10 percent, down 15 basis points from a week ago. A month ago, the average rate on a 30-year fixed refinance was lower, at 7.01 percent.

At the current average rate, you’ll pay $672.03 per month in principal and interest for every $100,000 you borrow. Compared with last week, that’s $10.15 lower.

Where are mortgage rates headed?

The days of sub-3 percent mortgage interest on the 30-year fixed are behind us, and rates have so far risen beyond 7 percent in 2022.

“Low interest rates were the medicine for economic recovery following the financial crisis, but it was a slow recovery so rates never went up very far,” says McBride. “The rebound in the economy, and especially inflation, in the late pandemic stages has been very pronounced, and we now have a backdrop of mortgage rates rising at the fastest pace in decades.”

Comparing mortgage options

The 30-year fixed-rate mortgage is the most popular option for homeowners, and this type of loan has a number of advantages, including:

  • Lower monthly payment: Compared to a shorter term, such as 15 years, the 30-year mortgage offers lower payments spread over time.
  • Stability: With a 30-year mortgage, you lock in a consistent principal and interest payment. Because of the predictability, you can plan your housing expenses for the long term. Remember: Your monthly housing payment can change if your homeowners insurance and property taxes go up or, less likely, down.
  • Buying power: With lower payments, you can qualify for a larger loan amount and a more expensive home.
  • Flexibility: Lower monthly payments can free up some of your monthly budget for other goals, like saving for emergencies, retirement, college tuition or home repairs and maintenance.
  • Strategic use of debt: Some argue that Americans focus too much on paying down their mortgages rather than adding to their retirement accounts. A 30-year fixed mortgage with a smaller monthly payment can allow you to save more for retirement.

That said, shorter-term loans have gained popularity as rates have been historically low. Although they have higher monthly payments compared to 30-year mortgages, there are some big benefits if you can afford the upfront costs. Shorter-term loans can help you achieve:

  • Greatly reduced interest costs: Because you pay off the loan faster, you’ll be able to pay less interest overall.
  • Lower interest rate: On top of less time for that interest to compound, most lenders price shorter-term mortgages with lower rates.
  • Build equity faster: The faster you pay off your mortgage, the faster you’ll own value in your home outright. That’s especially handy if you want to borrow against your property to fund other spending.
  • Debt-free sooner: A shorter-term mortgage means you’ll own your house free and clear sooner than you would with a longer-term loan.

What are current mortgage rates?

Mortgage rates have been volatile because of the COVID-19 pandemic. Generally, though, rates have been low. Mortgage rates are rising and falling from week to week, as lenders are inundated with forbearance and refinance requests. In general, however, rates are consistently below 4 percent and even dipping below 3%. This is an especially good time for people with good to excellent credit to lock in a low rate for a purchase loan. However, lenders are also raising credit standards for borrowers and demanding higher down payments as they try to dampen their risks.

What comes next:

Featured lenders for today, June 5, 2023

Source: bankrate.com

Apache is functioning normally

Top Producer Software, a leading real estate software provider, announced on Monday the release of its first-ever social media lead product, Social Connect. This new product combines social media marketing with automated lead nurture to enable real estate agents to grow their database and convert more leads into clients.

“Social Connect is a game changer for our customers with the number of quality interactions being generated,” Kerm Foltz, senior vice president of operations at Top Producer, said.

Social media has become an indispensable tool for real estate agents to expand their networks and attract potential clients. According to industry data, more than 95% of home buyers utilize online tools during their home search.

To capitalize on this trend, Social Connect leverages social media advertising to reach a broader audience, targeting leads that the advertising algorithm identifies as more likely to make a home purchase.

Incoming leads from Social Connect are automatically sent to the customer relationship management (CRM) system, where they receive relevant content tailored to their needs. This includes branded market reports, infographics, and other educational materials aimed at engaging leads and converting them into clients.

Top Producer also has access to one of the largest multiple listing service (MLS) networks and utilizes live MLS data to create active and sold listing ads, which are then optimized by a team of advertising experts. Agents only need to select their target city and budget, leaving the rest to Top Producer Social Connect.

In addition to its other features, the system generates a high volume of affordable leads with accurate contact information while also utilizing Top Producer’s smart follow-up technology.

Top Producer tracks all the essential activities of leads in a centralized location within the CRM. This allows agents to provide exceptional service by accessing the communication history and saved property inquiries associated with each lead’s contact record.

“The lead nurture content is one of the big advantages of Top Producer Social Connect. Messages don’t sound canned, have a better personality than other lead generation follow-up systems and include nice infographics,” said real estate agent Marty Soller.

Top Producer Software has been a trusted provider of innovative real estate software solutions for over 40 years, assisting tens of thousands of real estate professionals in streamlining their businesses and maximizing their networks. The company is part of the Constellation Real Estate Group.

This content was generated using AI, and was edited and fact-checked by HousingWire’s editors.

Source: housingwire.com

Apache is functioning normally

National mortgage rates jumped for all types of loans compared to a week ago, according to data compiled by Bankrate. Rates for 30-year fixed, 15-year fixed, 5/1 ARMs and jumbo loans moved higher.

The Federal Reserve has raised rates 10 times in a row, most recently at its May 3 meeting. Rates now are at a 15-year high, but the consensus is that inflation is finally cooling and the central bank might halt raising rates.

”Mortgage rates have settled into a new normal of around 6.5 percent on a 30-year fixed-rate loan,” says Lisa Sturtevant, chief economist at Bright MLS, a large multiple listing service in the Middle Atlantic region. ”With growing recession risks, we could see mortgage rates dip lower, but we will not be returning to the 3 percent level seen during the height of the pandemic.”

Rates as of May 29, 2023.

These rates are marketplace averages based on the assumptions indicated here. Actual rates available on-site may vary. This story has been reviewed by Suzanne De Vita. All rate data accurate as of Monday, May 29th, 2023 at 7:30 a.m.

You can save thousands of dollars over the life of your mortgage by getting multiple offers. Comparing mortgage offers from multiple lenders is always a smart move, but shopping around grew especially critical during the interest rate run-up of 2022, according to research by mortgage giant Freddie Mac. It found the payoff for bargain-huntng borrowers doubled last year.

“All too often, some homeowners take the path of least resistance when seeking a mortgage, in part because the process of buying a home can be stressful, complicated and time-consuming,” says Mark Hamrick, senior economic analyst for Bankrate. “But when we’re talking about the potential of saving a lot of money, seeking the best deal on a mortgage has an excellent return on investment. Why leave that money on the table when all it takes is a bit more effort to shop around for the best rate, or lowest cost, on a mortgage?”

Mortgage rates

30-year fixed-rate mortgage rises, +0.15%

The average rate for the benchmark 30-year fixed mortgage is 7.19 percent, up 15 basis points over the last seven days. Last month on the 29th, the average rate on a 30-year fixed mortgage was lower, at 6.88 percent.

At the current average rate, you’ll pay a combined $678.11 per month in principal and interest for every $100k you borrow. That’s $10.12 higher compared with last week.

The 30-year mortgage is the most popular option for homeowners, and this type of loan has a number of advantages, including:

  • Lower monthly payment. Compared to a shorter term, such as 15 years, the 30-year mortgage offers lower, more affordable payments spread over time.
  • Stability. With the 30-year, you lock in a consistent principal and interest payment. That predictability lets you plan your housing expenses for the long term. Keep in mind: Your monthly housing payment can change if your homeowners insurance and property taxes go up or, less likely, down.
  • Buying power. Because you have lower payments, you can qualify for a bigger loan and a more expensive house.
  • Flexibility. Lower monthly payments can free up some of your monthly budget for other goals, like building an emergency fund, contributing to retirement or college tuition, or saving for home repairs and maintenance.
  • Strategic use of debt. Some argue that Americans focus too much on paying down their mortgages rather than adding to their retirement accounts. A 30-year mortgage with a smaller monthly payment can allow you to save more for retirement.

15-year mortgage rate trends upward,+0.19%

The average rate for the benchmark 15-year fixed mortgage is 6.61 percent, up 19 basis points since the same time last week.

Monthly payments on a 15-year fixed mortgage at that rate will cost approximately $877 per $100k borrowed. The bigger payment may be a little more difficult to find room for in your monthly budget than a 30-year mortgage payment would, but it comes with some big advantages: You’ll save thousands of dollars over the life of the loan in total interest paid and build equity much more quickly.

5/1 adjustable rate mortgage moves upward, +0.13%

The average rate on a 5/1 adjustable rate mortgage is 6.00 percent, adding 13 basis points over the last 7 days.

Adjustable-rate mortgages, or ARMs, are mortgage terms that come with a floating interest rate. To put it another way, the interest rate can change periodically throughout the life of the loan, unlike fixed-rate mortgages. These loan types are best for people who expect to refinance or sell before the first or second adjustment. Rates could be considerably higher when the loan first adjusts, and thereafter.

While borrowers shunned ARMs during the pandemic days of super-low rates, this type of loan has made a comeback as mortgage rates have risen.

Monthly payments on a 5/1 ARM at 6.00 percent would cost about $600 for each $100,000 borrowed over the initial five years, but could increase by hundreds of dollars afterward, depending on the loan’s terms.

Current jumbo mortgage rate moves upward, +0.11%

The current average rate you’ll pay for jumbo mortgages is 7.20 percent, up 11 basis points from a week ago. This time a month ago, the average rate on a jumbo mortgage was below that, at 6.96 percent.

At the current average rate, you’ll pay a combined $678.79 per month in principal and interest for every $100,000 you borrow. That’s an additional $7.43 per $100,000 compared to last week.

Recap: How mortgage rates have shifted

  • 30-year fixed mortgage rate: 7.19%, up from 7.04% last week, +0.15
  • 15-year fixed mortgage rate: 6.61%, up from 6.42% last week, +0.19
  • 5/1 ARM mortgage rate: 6.00%, up from 5.87% last week, +0.13
  • Jumbo mortgage rate: 7.20%, up from 7.09% last week, +0.11

Interested in refinancing? See rates for home refinance

Current 30 year mortgage refinance rate trends upward, +0.13%

The average 30-year fixed-refinance rate is 7.25 percent, up 13 basis points over the last week. A month ago, the average rate on a 30-year fixed refinance was lower, at 6.99 percent.

At the current average rate, you’ll pay $682.18 per month in principal and interest for every $100,000 you borrow. That’s $8.80 higher compared with last week.

Where mortgage rates are headed

The days of sub-3 percent mortgage interest on the 30-year fixed are behind us, and rates have so far risen beyond 7 percent in 2022.

“Low interest rates were the medicine for economic recovery following the financial crisis, but it was a slow recovery so rates never went up very far,” says McBride. “The rebound in the economy, and especially inflation, in the late pandemic stages has been very pronounced, and we now have a backdrop of mortgage rates rising at the fastest pace in decades.”

Comparing mortgage options

The 30-year fixed-rate mortgage is the most popular loan for homeowners. This mortgage has a number of advantages. Among them:

  • Lower monthly payment: Compared to a shorter term, such as 15 years, the 30-year mortgage offers lower payments spread over time.
  • Stability: With a 30-year mortgage, you lock in a consistent principal and interest payment. Because of the predictability, you can plan your housing expenses for the long term. Remember: Your monthly housing payment can change if your homeowners insurance and property taxes go up or, less likely, down.
  • Buying power: With lower payments, you can qualify for a larger loan amount and a more expensive home.
  • Flexibility: Lower monthly payments can free up some of your monthly budget for other goals, like saving for emergencies, retirement, college tuition or home repairs and maintenance.
  • Strategic use of debt: Some argue that Americans focus too much on paying down their mortgages rather than adding to their retirement accounts. A 30-year fixed mortgage with a smaller monthly payment can allow you to save more for retirement.

That said, shorter-term loans have gained popularity as rates have been historically low. Although they have higher monthly payments compared to 30-year mortgages, there are some big benefits if you can afford the upfront costs. Shorter-term loans can help you achieve:

  • Greatly reduced interest costs: Because you pay off the loan faster, you’ll be able to pay less interest overall.
  • Lower interest rate: On top of less time for that interest to compound, most lenders price shorter-term mortgages with lower rates.
  • Build equity faster: The faster you pay off your mortgage, the faster you’ll own value in your home outright. That’s especially handy if you want to borrow against your property to fund other spending.
  • Debt-free sooner: A shorter-term mortgage means you’ll own your house free and clear sooner than you would with a longer-term loan.

Determining how much house you can afford

If you’re not sure how much of your income should go toward housing, follow the traditional 28/36 percent rule. Most financial advisers agree that people should spend no more than 28% of their gross income on housing (i.e., your mortgage payment or rent), and no more than 36% of their gross income on total debt, including mortgage payments, credit cards, student loans, medical bills and the like. Calculate how much house you can afford and determine your monthly payments.

Keep reading:

Featured lenders for today, May 29, 2023

Source: bankrate.com

Apache is functioning normally

As rent prices continue to soar all over the country, you may be finding yourself entering your first real estate search.

You’re not alone. According to the National Association of Realtors, millennials are ending their leases and buying homes in large numbers. Those in their late 20’s to early 30’s now make up the fastest-growing segment of buyers today. But how to even shop for a home these days?

First-time buyers might remember being dragged to Sunday open houses with their looky-loo parents, but those days are gone. Everything is online, and many real estate apps have sprung up to help buyers find their dream homes.

The 7 Best Home Buying Apps

  • Zillow: Best for overall use
  • Trulia: Best for community insight
  • Homesnap: Best for convenience
  • Redfin: Best for multilevel support
  • Rocket Homes: Best for one-stop shop
  • Realtor.com: Best for reliability
  • Homes.com: Best for quicking listing updates

Best Home Buying Apps at a Glance

App Best For Details Key Feature
Zillow Overall usability Virtual tours Push notifications SEE DETAILS
Realtor.com Reliability 3D tours Detailed descriptions SEE DETAILS
Trulia Community insight 34 map overlays 30M neighborhood reviews SEE DETAILS
Rocket Homes One-stop shop Agents/lenders links Area trend reports SEE DETAILS
Homesnap Convenience High-definition photos Optimized for mobile SEE DETAILS
Redfin Multilevel support User-friendly interface Calculates mortgage/fees SEE DETAILS
Homes.com Quick listing updates Home showings via Zoom Mortgage calculator SEE DETAILS

Zillow


Pro

  • Between for-sale-by-owner and official properties, it provides users access to over 135 million property listings.


Con

  • The “Zestimate” algorithm uses tax records to produce home value estimates, which sometimes are inaccurate.

The Zillow house-hunting app app is the most downloaded real estate app on the Apple store and Google Play — and for good reason. Its database constantly updates and has 36 million users monthly. You can set up push notifications for new real estate listings that meet your search criteria so you’ll never miss out on your potential dream home.

The app allows you to filter real estate listings by price, ZIP code, square footage, must-have features and more. You can even coordinate your search with a partner or roommate by tagging home features and sharing your favorites.

Zillow provides 3-D tours and a scheduling feature to set up an in-person tour. One of its best features is self tours of Zillow-owned homes, a feature available in some markets that allows house hunters to stop by the property at their convenience and simply unlock the house with the app.

Newly added to the Zillow app is a “natural-language search” tool, which responds to user questions in direct fashion, rather than requiring users to type multiple search questions to get to where they want to go.

Realtor.com


Pro

  • It’s the official search portal for the National Association of Realtors, meaning its updates are the most accurate.


Con

  • ​​Clicking on “contact agent” will not go to the listing agent, but instead to a local real estate agent who has paid for this lead service.

Realtor.com is one of the best home buying apps out there for on-market listings. Being the official search portal for the National Association of Realtors means you can trust the home listings that pop up in your search. The data is directly mined from the MLS (multiple listing service) and refreshes every 15 minutes.

The search features include a wide variety of filters and provides the most detailed real estate listing descriptions, which include things like crime rates, school ratings, property tax and history of home value estimates — even things like the neighborhood noise levels or whether a home is in a FEMA flood zone.

Because the app updates so often, setting up push notifications means you’ll quickly know when a new property hits the local market. You’ll also have the power of the “Sign Snap” tool in your pocket the next time you drive by a “for sale” sign. All you have to do is take a photo and Realtor.com pulls all of the home’s details instantly.

Trulia


Pro

  • Shows names and contact information for listing agents, so users know who they would be working with for each listing.


Con

  • You’re prompted to call or email the listing agent on any property you view, which can get in the way of casual browsing.

Acquired by Zillow in 2015, Trulia has access to most of Zillow’s database of over 135 million active listings and has become one of the best real estate apps. What sets it apart is the focus on community insight provided by those who are located in the area you are searching. You’ll not only get details on the property, but information on what it’s like to live in that specific neighborhood.

You’ll be alerted about price reductions and upcoming open houses, and the app will recommend new listings. Insights sourced straight from locals and 34 neighborhood map overlays offer details on commute times, nearby businesses, crime rates, nearby schools, and more.

Two other features added in 2018 distinguishes the Trulia app from others. “What locals say” and “local legal protections,” combine local feedback and public data to provide information about what a neighborhood is like, from level of dog-friendliness, day-in-the-life details, and even how folks decorate for the holidays.

You’ll also be able to see whether there is legislation in the area to protect against discrimination for gender identity or sexual orientation in employment, housing or public accommodations.

Rocket Homes


Pro

  • Lets you access your TransUnion credit report, which is updated every week.


Con

  • ​​Does not provide a home value estimate.

Similar to Trulia, Rocket Homes puts an emphasis on getting to know your soon-to-be neighborhood, but from a market statistics perspective.

This real estate knowledge will come in handy when searching for a home. You can compare properties in the area, seeing how long they’ve been on the market and what they sold for. If you’re not planning on living in your first home forever, this will help give you an idea of what kind of return on investment you can expect from your purchase in the future.

Rocket Homes is a product of Quicken Loans, giving you the opportunity to shop for homes from new and updated listings and have access to lending services all in one place.

This real estate app also helps you stay on track when it comes to some of the more boring parts of purchasing a home, like tracking your credit score. Rocket Homes gives you access to a free TransUnion credit report that is updated frequently, so you know exactly where you stand before starting the mortgage application process.

Homesnap


Pro

  • Get extensive details on a home just by snapping a photo of it.


Con

  • Lack of coverage in some areas; Homesnap must partner with individual multiple listing services.

The Homesnap real estate app is perfect for the on-the-go house hunter. You can simply snap a photo of a home and get all of the data available. This feature means you have real-time connection to your local multiple listing service from the road.

If you choose to search from the comfort of your home instead, the Homesnap app allows you to search for open houses by date, and even provides live-broadcast, virtual showings if you want to avoid mingling with other buyers in person.

You can collaborate with your real estate agent through a built-in private messaging function that automatically saves your listings for quick reference. Like most real estate apps, you have a ton of customizable filters for efficient searching, and will be provided with up to date information about the home and neighborhood like commute times, satellite photos and more.

Redfin


Pro

  • Updates every five minutes so you never miss a new listing.


Con

  • ​​If you don’t live in one of the 90 U.S. and Canada markets where Redfin has agents, you won’t be able to connect with one.

Redfin’s out-of-the-box-business model combines the convenience of a high-performance app and the expertise you can only get by working with a real estate agent directly. Because Redfin is also a brokerage firm, you’ll have access to their top-quality real estate agents.

Working with a real estate agent gives you more in-depth market insights so you can make smart home buying decisions. And through the “Hot Homes” feature you’ll know which homes are more likely to sell fast so you don’t miss your chance of putting in an offer while house hunting.

Redfin also recently updated its data on climate risk, school ratings and neighborhood amenities.

Homes.com


Pro

  • Most of 2020 was spent updating the speed and user-friendliness of the app.


Con

  • ​​Limited information on neighborhood and demographic data.

The Homes.com app is partnered with the MLS to bring you quality leads on your home buying search. The app offers a plethora of filter criteria like the other apps, such as square footage, ZIP code, number of bedrooms and bathrooms, but has an emphasis on lifestyle. Not only will you find the best house, but in the neighborhood that’s right for you.

The exclamation icon makes it easy to spot new real estate listings when scrolling through your search results. You also have the option to “favorite” or “block” certain properties in your feed so you can revisit the ones you love and eliminate the ones you don’t.

The mortgage calculator on Homes.com includes specific financing options like FHA (Federal Housing Administration) loans and special rates for active military members or retired veterans.

Frequently Asked Questions (FAQs) About Home Buying Apps

There’s a lot of home buying apps to pick from when you are seriously or even casually looking for a home. We’ve rounded up answers to some of the most common questions about home buying apps.

Which App is Best for Buying a House?

The best app for buying a house is the one that fits your needs. But Zillow is the most popular because it does a lot of things right, including allowing users to filter information by price, ZIP code, square footage, must-have features and more. Zillow also lists for-sale-by-owner homes. Zillow is the most downloaded real estate app on the Apple store and Google Play. It gets a 4.7 rating out of 5 from 475K reviews on Google Play. In the Apple App store, more than 6 million reviews get Zillow a 4.8 rating.

What are Home Buying Apps?

Home buying apps are mobile tools accessible on various digital devices that let users see listings to buy, sell or rent a property. Different apps have unique features but all of them include multiple photos of properties, prices, property tax and loan information and the ability to connect with real estate professionals.

Home buying apps provide many benefits to users because of their national coverage and even global offerings. Users can see maps and learn about neighborhoods, too. Best of all, they are free.

How Accurate are Home Buying Apps?

Because home buying apps take information from various sources, there will always be a margin of error in valuations. Estimated values are made from information gathered from county and tax assessor records, multiple listing services and real estate companies. 

For properties on the market, the apps should have accurate asking prices or rental amounts. Where there is more variation is on property estimates, including for properties not on the market. You should consider these ballpark figures and not 100% accurate especially in a hot market when prices are jumping seemingly daily.. The apps are a good place to start but most people follow that information with a call to a real estate professional.

What is the Best House Hunting Site?

Zillow is the best overall site with its massive listing bank while Realtor.com is tops for reliable information. Trulia is excellent if you want more information about the community around a home. Homesnap is tops for photos and it is optimized well for mobile. If you want to connect with a Realtor, check out Redfin and if you want a direct line to a lending service, Rocket Homes may be the right pick for you.

Which App is Better: Zillow or Redfin?

Zillow edges out Redfin because of its massive reach. Redfin is not available in every market. However, Redfin is a brokerage which connects directly to the massive database of real estate listings commonly called MLS. Zillow does not do that. Zillow allows for sale by owner listings and Redfin does not.

What is the Most Popular Real Estate Website?

Zillow is the leading real estate website with more than 36 million unique visitors a month and about 135 million live listings. Trulia, which Zillow has owned since 2015, comes in second with 23 million unique visitors. Zillow was founded in Seattle in 2006 and claims to be the most accurate at price estimates, called ‘Zestimates” though there are lots of claims otherwise. 

The Bottom Line About Home-Buying Apps

As you can see, if you’re ready to break up with your landlord, calculate what down payment you can afford and start your journey to home ownership, you have plenty of house-hunting apps to take advantage of.

Along with all the other details involved in this adventure, it may take some trial and error to find the app that hones in on your specific house-hunting search criteria. But it’s worth spending the time if it helps you get everything you want in your first home.

Contributor Tiffany Beyer is a social media coordinator and marketer specializing based in St. Petersburg, Florida. She specializes in real estate and lifestyle issues stories. Freelancer Kent McDill contributed to this post. 

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Source: thepennyhoarder.com

Apache is functioning normally

Mortgage rates moved down sharply in March, a welcome trend for homebuyers who hope to make a deal during the spring selling season. Will rates continue the downward trend in April?

Housing analysts expect mortgage rates to continue to bounce around this month. While the consensus calls for rates to ease below 6 percent later this year, that forecast assumes the Federal Reserve will continue to successfully tame inflation, and that the remarkably resilient U.S. economy, finally, will slow.

“Forecasting mortgage rates in the best of times is tricky,” says Lisa Sturtevant, chief economist at Bright MLS, a multiple listing service that operates in the Mid-Atlantic. “Now, with economic factors tugging rates in different directions, it has become even more difficult to predict where rates will head this spring.”

Why mortgage rates fell in March

At the start of the month, mortgage rates were on the upswing. They went from 6.73 percent the week of March 1 to 6.84 percent the week of March 8, according to Bankrate’s national survey of lenders. They then reversed course, falling all the way to 6.48 percent in Bankrate’s March 29 survey.

The reason? A sudden banking crisis. Silicon Valley Bank failed March 10, followed by the collapse of Signature Bank on March 12.

They were the second- and third-largest bank failures in U.S. history, and the two meltdowns set investors on edge. The crisis also spurred the Fed to raise interest rates by 0.25 percentage point at its March 22 meeting, rather than the 0.5 percentage point increase it had been telegraphing.

The Fed’s softer rate hike can help mortgage rates to remain near 6.5 percent. With inflation easing slowly but steadily, rates will gradually move down in the following months.
— Nadia Evangelou, senior economist and director of Real Estate Research at the National Association of Realtors

While the Fed doesn’t dictate mortgage rates, the central bank’s policies reverberate through the mortgage market. “Markets and how market participants interpret economic data will determine where long-term rates settle, not the Fed,” says Orphe Divounguy, senior macroeconomist at Zillow Home Loans.

Markets continue to digest the fallout from the failures of Silicon Valley Bank and Signature Bank. Now that the problems in the banking sector seem to be under control, inflation will likely return as the main driver of rates.

“Mortgage rates will continue to fluctuate this month depending on the new developments in the banking sector,” says Nadia Evangelou, senior economist and director of Real Estate Research at the National Association of Realtors. “But the Fed’s softer rate hike can help mortgage rates to remain near 6.5 percent. With inflation easing slowly but steadily, rates will gradually move down in the following months.”

What’s driving rates in April

Instability in the banking sector adds a wild card to the mortgage outlook. Since early 2022, mortgage rates have been driven by inflation – and by how aggressively the Fed has responded to rein in inflation.

“Inflation, the Federal Reserve’s next steps and banking sector developments are the three main factors that will affect mortgage rates and, consequently, the housing market,” says Evangelou.

With the banking crisis seemingly fading, Greg McBride, Bankrate’s chief financial analyst, says mortgage rates will continue to move with inflation.

“If financial instability concerns reemerge, mortgage rates are likely to fall,” says McBride. “If all is quiet on the financial stability front, the focus will go back to inflation. Until inflation moves meaningfully below 6 percent, mortgage rates will be range bound. In April and the months that follow, the odds will begin to favor a decline in mortgage rates – but the inflation level means we’re not there yet.”

The Mortgage Bankers Association predicts that mortgage rates will fall to 5.3 percent by the end of 2023 as the economy weakens – but the U.S. economy has continued to grow despite numerous predictions that it soon would run out of steam.

Inflation has been a hallmark of the economy’s strong rebound from the pandemic recession of 2020. Nearly everyone expected the U.S. economy to fall into a recession in late 2022 or early 2023, but that hasn’t happened, at least not yet.

“A number of leading indicators suggest the U.S. economy is still on solid footing,” Divounguy says. “That means inflation may still be slow to come down, leaving the door open for more Fed policy tightening and causing rates to remain elevated.”

Divounguy acknowledges that the optimistic outlook is by no means guaranteed. A darkening of the economic outlook could lead to lower mortgage rates.

“Sinking consumer confidence and growing recession fears could cause investors to reverse course and head back into the bond market, which could also head to a decline in mortgage rates,” says Sturtevant.

Another factor to consider is the “the spread,” the gap between 10-year Treasury yields and 30-year mortgage rates. That margin has been unusually high for the past year or so.

“The spread between the 30-year fixed rate mortgage rate and the 10-year Treasury yield is still very wide by historic standards,” says Sturtevant. “If that gap were to narrow, mortgage rates could decline.”

Homebuyers are jittery

The spring homebuying season is officially underway, and these are nervous times for buyers. Home prices remain elevated, and mortgage rates have been bouncing around. Sturtevant expects home shoppers to respond by keeping a keen eye on rates.

“Prospective homebuyers are watching rates closely, with good reason,” says Sturtevant. “A half percentage point increase in mortgage rates increases the typical monthly payment by more than $100. Mortgage rate volatility could disrupt the typical steady spring market surge. Instead, we may see more buyers acting opportunistically, making an offer quickly when they see a dip in rates or if they expect an imminent rate increase.”

Source: bankrate.com

Apache is functioning normally

Mortgage interest rates sunk on all loan terms from a week ago, according to data compiled by Bankrate. Rates for 30-year fixed, 15-year fixed, 5/1 ARMs and jumbo loans all dropped.

The Federal Reserve has lifted rates 10 times in a row, most recently at its May 3 meeting. Rates now are at a 15-year high, but the consensus is that inflation is finally cooling and the central bank might halt raising rates.

”Mortgage rates have settled into a new normal of around 6.5 percent on a 30-year fixed-rate loan,” says Lisa Sturtevant, chief economist at Bright MLS, a large multiple listing service in the Middle Atlantic region. ”With growing recession risks, we could see mortgage rates dip lower, but we will not be returning to the 3 percent level seen during the height of the pandemic.”

Rates as of May 9, 2023.

These rates are marketplace averages based on the assumptions indicated here. Actual rates displayed across the site may vary. This story has been reviewed by Suzanne De Vita. All rate data accurate as of Tuesday, May 9th, 2023 at 7:30 a.m.

>>See historical mortgage rate trends, from the 70s to today

You can save thousands of dollars over the life of your mortgage by getting at least three rate quotes. Comparing mortgage offers from multiple lenders is always a smart move, but shopping around grew especially critical during the interest rate run-up of 2022, according to research by mortgage giant Freddie Mac. It found the payoff for bargain-huntng borrowers doubled last year.

“All too often, some homeowners take the path of least resistance when seeking a mortgage, in part because the process of buying a home can be stressful, complicated and time-consuming,” says Mark Hamrick, senior economic analyst for Bankrate. “But when we’re talking about the potential of saving a lot of money, seeking the best deal on a mortgage has an excellent return on investment. Why leave that money on the table when all it takes is a bit more effort to shop around for the best rate, or lowest cost, on a mortgage?”

Mortgage rates

Today’s 30-year mortgage rate dips, -0.01%

The average rate for a 30-year fixed mortgage is 6.87 percent, down 1 basis point over the last week. This time a month ago, the average rate on a 30-year fixed mortgage was unchanged, at 6.87 percent.

At the current average rate, you’ll pay principal and interest of $656.59 for every $100k you borrow. That’s $0.67 lower, compared with last week.

How do I view personalized 30-year mortgage rates?

Use the loan widgets on this page or head to our primary rates page to see what kind of rates are available in your situation. You just need to give us a little information about your finances and where you live. With that data, Bankrate can show you real-time estimates of mortgages available to you from a number of providers.

15-year mortgage falls,-0.03%

The average rate for the benchmark 15-year fixed mortgage is 6.23 percent, down 3 basis points over the last seven days.

Monthly payments on a 15-year fixed mortgage at that rate will cost roughly $856 per $100k borrowed. Yes, that payment is much bigger than it would be on a 30-year mortgage, but it comes with some big advantages: You’ll come out several thousand dollars ahead over the life of the loan in total interest paid and build equity much more rapidly.

5/1 ARM rate eases, -0.01%

The average rate on a 5/1 adjustable rate mortgage is 5.79 percent, sliding 1 basis point since the same time last week.

Adjustable-rate mortgages, or ARMs, are mortgage terms that come with a floating interest rate. In other words, the interest rate can change periodically throughout the life of the loan, unlike fixed-rate loans. These types of loans are best for those who expect to refinance or sell before the first or second adjustment. Rates could be considerably higher when the loan first adjusts, and thereafter.

While borrowers shunned ARMs during the pandemic days of super-low rates, this type of loan has made a comeback as mortgage rates have risen.

Monthly payments on a 5/1 ARM at 5.79 percent would cost about $586 for each $100,000 borrowed over the initial five years, but could climb hundreds of dollars higher afterward, depending on the loan’s terms.

Current jumbo mortgage rate moves lower, -0.02%

The average jumbo mortgage rate today is 6.94 percent, a decrease of 2 basis points over the last seven days. This time a month ago, the average rate on a jumbo mortgage was unchanged, at 6.94 percent.

At the average rate today for a jumbo loan, you’ll pay $661.28 per month in principal and interest for every $100,000 you borrow. That’s a decline of $1.34 from last week.

Summary: How interest rates have shifted over the past week

  • 30-year fixed mortgage rate: 6.87%, down from 6.88% last week, -0.01
  • 15-year fixed mortgage rate: 6.23%, down from 6.26% last week, -0.03
  • 5/1 ARM mortgage rate: 5.79%, down from 5.80% last week, -0.01
  • Jumbo mortgage rate: 6.94%, down from 6.96% last week, -0.02

Interested in refinancing? See rates for home refinance

Today’s 30-year mortgage refinance rate goes up, +0.02%

The average 30-year fixed-refinance rate is 7.01 percent, up 2 basis points over the last seven days. A month ago, the average rate on a 30-year fixed refinance was lower, at 6.97 percent.

At the current average rate, you’ll pay $665.97 per month in principal and interest for every $100,000 you borrow. That’s an increase of $1.34 over what you would have paid last week.

Where are mortgage rates headed?

The days of sub-3 percent mortgage interest on the 30-year fixed are behind us, and rates have so far risen beyond 7 percent in 2022.

“Low interest rates were the medicine for economic recovery following the financial crisis, but it was a slow recovery so rates never went up very far,” says McBride. “The rebound in the economy, and especially inflation, in the late pandemic stages has been very pronounced, and we now have a backdrop of mortgage rates rising at the fastest pace in decades.”

Comparing different mortgage terms

The 30-year fixed mortgage is the most popular loan for homeowners. This type of loan has a number of advantages, including:

  • Lower monthly payment: Compared to a shorter term, such as 15 years, the 30-year mortgage offers lower payments spread over time.
  • Stability: With a 30-year mortgage, you lock in a consistent principal and interest payment. Because of the predictability, you can plan your housing expenses for the long term. Remember: Your monthly housing payment can change if your homeowners insurance and property taxes go up or, less likely, down.
  • Buying power: With lower payments, you can qualify for a larger loan amount and a more expensive home.
  • Flexibility: Lower monthly payments can free up some of your monthly budget for other goals, like saving for emergencies, retirement, college tuition or home repairs and maintenance.
  • Strategic use of debt: Some argue that Americans focus too much on paying down their mortgages rather than adding to their retirement accounts. A 30-year fixed mortgage with a smaller monthly payment can allow you to save more for retirement.

That said, shorter-term loans have gained popularity as rates have been historically low. Although they have higher monthly payments compared to 30-year mortgages, there are some big benefits if you can afford the upfront costs. Shorter-term loans can help you achieve:

  • Greatly reduced interest costs: Because you pay off the loan faster, you’ll be able to pay less interest overall.
  • Lower interest rate: On top of less time for that interest to compound, most lenders price shorter-term mortgages with lower rates.
  • Build equity faster: The faster you pay off your mortgage, the faster you’ll own value in your home outright. That’s especially handy if you want to borrow against your property to fund other spending.
  • Debt-free sooner: A shorter-term mortgage means you’ll own your house free and clear sooner than you would with a longer-term loan.

Are mortgage rates going up?

Throughout 2021, mortgage rates are expected to begin rising again. The National Association of Realtors expects rates to average 3.1% and the Mortgage Bankers Association (MBA) says mortgage rates will average 3.3% in 2021. These rate estimates are both up from the 3.0% mortgage rate average in 2020 but lower than 2019’s average rates. Many experts say it could be years before mortgage rates return to their pre-pandemic levels.

Sources:

  • National Association of Real Estate Editors
  • Freddie Mac Federal Home Loan Mortgage Corporation

What comes next:

Featured lenders for today, May 9, 2023

Source: bankrate.com

Apache is functioning normally

Hey Phoenix, your days of paying crazy real estate commissions are over. Starting January, 2018, you can buy or list your home using Homie. Homie, the new-way real estate brokerage, isn’t business as usual. In fact, there are some pretty amazing differences between the new way and the old way of buying and selling a home.

Why we started Homie

Buyers used to spend Sunday afternoons driving around town to see houses with their real estate agents, but not anymore. For years, online giants like Zillow have dished up the details on any home for sale giving buyers all the info they need to narrow their search. Most buyers now browse homes online, select the listings they’re interested in, and then call the agent to tour them. And sellers?  Sellers are wondering why they’re still paying traditional 6% agent commissions. Doesn’t technology do a lot of work?

We wondered the same thing. Why do people still go through the same old 1950’s real estate process?  Modern consumers use Turbotax to navigate 20,000 pages of tax code. They use apps to plan vacations and guide careers. It was time to offer tech-friendly customers a new approach to buying and selling. 

Homie offers a new way to buy and sell

At Homie, we help modern, self-sufficient people buy and sell homes as simply and affordably as possible. The traditional way of having an agent hold your hand from start to finish is great for consumers who don’t have a Google or Facebook account, but for those who can set up an online profile and click through some online pics, Homie is here. Here’s what can you expect when you choose to buy or sell with Homie.

We leverage technology

Our tech automates much of the work that used to take up an agent’s time. Instead of driving buyers around or walking from house to house handing out flyers to neighbors, Homie agents use technology to help our buyers:

  • Find the right home
  • Schedule tours
  • Make offers
  • Close without a hitch

And to help our sellers:

  • Prepare listings
  • Go live (on homie.com and other real estate sites)
  • Market listings
  • Review offers
  • Handle contracts
  • Close the deal

Sellers pay a fraction of traditional listing costs

Homie sellers don’t pay 6% commissions, not even close. To list, sellers pay a low fee at close.That’s the same whether they’re selling a $199,000 condo in Surprise or a $10,000,000 mansion in Scottsdale (or anything in between). On top of those savings, it doesn’t cost extra to list the property on the multiple listing service (MLS).

Buyers can get more

When you buy with Homie, you can keep up to 50% of our commission.*

Our chosen ones find us

Homie clients know a good deal when they hear it, so they come to us. This eliminates the time and money spent hunting for new clients and lets us spend 100% of our time helping our Homies. And that means we can charge less. A lot less. Oh, and HHomie agents assist with 30+ transactions a month, not 1-2 a year, so they’re good at what they do.

We work as a team

When you sign up with Homie, you get an entire team to help you with experts in different areas. Our specialized team approach allows us to streamline the process and cut even more customer costs.

Cash, meet pocket

We did all this is to reduce how much our Homies pay to sell a home. Just how much can you save? That depends on the home, but we can tell you that our streamlined tech-friendly approach saved Homie customers over $12,000,000 last year, an average savings of over $10,000 per seller.

The future is here

We expect our Phoenix Homies will be just as happy to use the new way to buy and sell homes as our Utah Homies are. Will Phoenix be just as hot as Utah… or even hotter?

*Subject to terms and conditions outlined in the Buyer Broker Agreement.

Source: homie.com