Realtor.com® Aims to ‘Close the Gap’ in Homeownership Homeownership rates for many minority groups continues to be well below that of whites, and discriminatory policies are often blamed for that. During National Fair Housing Month in April, many housing groups and organizations are bringing the racial housing gap to the forefront and asking others in …
Tag: News
Apr 12
Sellers Are Lowering Asking Prices
Sellers Are Lowering Asking Prices With mortgage rates now nearing 5%, many aspiring home buyers may have reached the top of what they can afford, especially as 40-year-high inflation affects the threshold for them. As a result, the number of sellers dropping their asking price is growing at a faster clip than in the recent …
Apr 11
Rising Rates
Rising Rates Home buyers this spring are facing a double whammy of rising home prices and mortgage rates. The 30-year fixed-rate mortgage rose to 4.72% this week, from 3.13% when compared to a year ago, Freddie Mac reports. Over the last three months, mortgage rates have risen by 1.5 percentage points, the fastest three-month rise …
Apr 11
Housing Inventory Turnaround Possible
Housing Inventory Turnaround Possible A new survey shows many homeowners plan to list their home over the next six months, with high expectations for making a profit on the sale. Sixty-four percent of about 3,000 consumers recently surveyed by realtor.com® said they intend to sell their home this spring or summer. That could bring some …
Apr 07
5% Mortgage Rates on the Horizon
5% Mortgage Rates on the Horizon Mortgage rates have been rising quickly over the past month. A year ago, the 30-year fixed-rate mortgage was 3.18%. Last week, it averaged 4.67%, according to Freddie Mac. Mortgage rates surged more than 90 basis points in March alone. And 5% mortgage rates may be here sooner than many …
Apr 07
Hope for Weary Buyers
Hope for Weary Buyers As the spring buying season kicks off, many aspiring home buyers may find themselves priced out and feel frustrated by the competition. Home prices are higher, as are mortgage rates. Bidding wars remain fierce. But housing analysts say home buyers may soon see a change and a possible opening for those …
Apr 05
Yard Care Tips Heading Into Spring
Yard Care Tips Heading Into Spring Homeowners have been spending more time in their backyards since the pandemic began. For a growing share of owners, it’s become a new hobby or a place to relax. Sixty-nine percent of Americans recently surveyed say that doing yard work—either maintaining it or adding or updating features—is one of …
Apr 05
Borrowing Costs Jump as Rates Continue to Increase
Borrowing Costs Jump as Rates Continue to Increase For the fourth consecutive week, mortgage rates surged, up more than 90 basis points in one month. Rates have jumped from 3.76% to 4.67% in just March alone, significantly increasing the borrowing costs for buyers, Nadia Evangelou, senior economist and director of forecasting at the National Association …
Apr 04
Listing Prices Hit Highest Median Ever
Listing Prices Hit Highest Median Ever Listing prices rose to a median of $405,000 in March, an all-time high, according to realtor.com®’s latest Monthly Housing Trends Report. However, economists say that buyers may soon see relief with expectations of more inventory coming that could help relieve some of the pricing pressures. Housing inventory is expected …
Apr 01
Big Ask for Housing in Biden Budget
Big Ask for Housing in Biden Budget President Joe Biden requested historic funding for housing supply in his federal budget proposal for the fiscal year that begins October 1, 2022. The proposal was released Monday. A requested 34% increase over last year for the Department of Housing and Urban Development includes $50 billion in grants …
Mar 31
Affordable Places to Buy a Vacation Home
Affordable Places to Buy a Vacation Home Vacation homes remain a popular pandemic trend. More Americans have been warming up to the idea of being untethered from jobs with remote work and experiencing a growing desire for a family getaway home or potential rental revenue stream. Vacation homes remain in demand. But home prices have …
