Category: Real Estate Tips

he housing market doesn’t appear to be following its typical seasonal slowdown this winter. Home buyers appeared in a rush last week, with economists crediting rising mortgage rates. Mortgage rates moved to their highest level in more than a year, the Mortgage Bankers Association reports. Buyers who are already facing higher home prices are watching …

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Inflation continues to press on mortgage rates. The 30-year fixed-rate mortgage averaged 3.45% this week, up from last week’s 3.22% average, Freddie Mac reports. “Mortgage rates rose across all mortgage loan types, with the 30-year fixed-rate mortgage increasing by almost a quarter of a percent from last week,” says Sam Khater, Freddie Mac’s chief economist. …

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Mortgage credit availability loosened in December, even as house hunters continue to face higher prices that are hampering affordability, according to the Mortgage Bankers Association. MBA’s Mortgage Credit Availability Index posted its highest reading since May 2021. However, credit availability is still 30% below pre-pandemic levels. “Credit supply increased in December, with growth across both …

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The average dollar amount of a mortgage purchase application hit a record of $418,500 as higher home prices force buyers to borrow more, the Mortgage Bankers Association reported this week. “The continued rise in purchase loan application sizes is driven by high home price appreciation and the lack of housing inventory on the market—especially for …

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Mortgage rates are on the rise in the new year, just like economists predicted. The 30-year fixed-rate mortgage, which is up 45 basis points in less than a month, averaged 3.56% this week compared to 3.11% in the last week of 2021. “Mortgage rates moved up again as the 10-year U.S. Treasury yield rose and …

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The number of owners who can save by refinancing is down by more than half from the start of this year to 5.9 million, according to Black Knight data. Black Knight considers refinance candidates as 30-year mortgage holders who have a maximum 80% loan-to-value ratio, a credit score of 720 or higher, and a likelihood of …

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The fear of missing out, or “FOMO” as it’s called on social media, could prove to be a strong motivation for potential home buyers to enter the market quickly as mortgage rates rise. The potential loss of homebuying power may “supercharge the housing market ahead of the spring homebuying season,” says Mark Fleming, chief economist …

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Mortgage rates held steady overall this week, a welcome relief to home shoppers who may have been watching them rise week after week since the beginning of the year. The 30-year fixed-rate mortgage averaged 3.55% this week, Freddie Mac reports. “Following a month-long rise, mortgage rates effectively stayed flat this week,” says Sam Khater, Freddie …

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Investors and move-up buyers will keep home sales humming, but inflation and other issues could be hurdles. Key Takeaways: “It was the best of times, it was the worst of times … it was the spring of hope, it was the winter of despair.” Those are the words of Charles Dickens in A Tale of …

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Mortgage rates continue to rise and are nearly a full percentage point higher than a year ago. House hunters should brace themselves for rates near 4% before the end of the year, economists say. “The normalization of the economy continues as mortgage rates jumped to the highest level since the emergence of the pandemic,” says …

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Housing affordability is tightening as home prices continue to climb faster than incomes. The median family income rose by 4.5% year over year in December 2021, while the monthly mortgage payment rose 22.5%, the National Association of REALTORS® reports. The threat of rising mortgage rates could pose another challenge to housing affordability in the coming …

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