Riding the hopes that the Federal Reserve will slow its pace of rate hikes, Freddie Mac reported that the 30-year, fixed-rate mortgage fell yet again, as house prices soften with 2022 coming to a close.
“House prices were flat for the third quarter but continued to remain above levels from a year ago,” said W...
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According to a new Redfin study, as homebuyers adjust to 6% mortgage rates, more homes have gone under contract in January than in the entire fourth quarter, up from a low in November and December.
The share of families living in apartments has reached the highest level in half a century, as a new RentCafe study shows more of those who could purchase a home are choosing instead to rent.
“This recent low point in home sales activity is likely over,” said Lawrence Yun, NAR’s Chief Economist. “Mortgage rates are the dominant factor driving home sales, and recent declines in rates...
On average, the monthly cost of buying a starter home in December 2022 was nearly 50% higher than the cost of renting, according to Realtor.com's Monthly Rental Report.
MBA forecasts rates and home-price growth to soften, which “should help bring more prospective buyers into the market” come spring.
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Both raw profits and return on investment have improved nationwide for 11 straight years, shooting up again in 2022 as the national median home price increased 10% to $330,000—another annual record.
Freddie Mac reports the fixed-rate mortgage has fallen to its lowest level since mid-September, as buyers begin to return to the market ahead of the spring homebuying season.
“More than a decade of home price increases has given homeowners record amounts of equity, which protects them from foreclosure should they fall behind on their mortgage payments,” said Molly...
The MBA reports a continued rise in borrower demand, as mortgage application volume rose for the third consecutive week, led by gains in both purchase and refi activity.
According to a new report from Redfin, home prices saw a small increase in January as mortgage-rate drops begin to bring homebuyers back to the market.
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