Mortgage Rates Dip Below 3% Home buyers have another shot at snagging mortgage rates under 3% this week. The 30-year fixed-rate mortgage fell to 2.99%, defying expectations that below 3% rates were now gone. The Federal Reserve recently warned that it will soon begin tapering its bond purchases, which is expected to move rates …
Tag: News
Oct 11
Builders Seek Alternative Materials for Faster Construction
Builders Seek Alternative Materials for Faster Construction Builders are up against short supplies of a variety of materials needed to build homes, such as wood paneling, ceiling joists, and pipes. They’re searching for substitutes to keep construction schedules on time, but the process is also adding to their costs. Supply shortages have become a …
Oct 11
Debt Limit Deal Came After NAR, White House Meeting
Debt Limit Deal Came After NAR, White House Meeting Lawmakers on Capitol Hill announced Thursday that they’ve reached a deal to lift the national debt ceiling through December while continuing to work on a longer-term budget solution. The deal comes a day after Charlie Oppler, president of the National Association of REALTORS®, met with …
Oct 06
Homeowner Equity May Keep Foreclosures at Bay
Homeowner Equity May Keep Foreclosures at Bay Rising home prices have meant most homeowners have seen significant gains in equity over the past year. That may prove to be a critical buffer to help owners hit hard by economic uncertainty during the pandemic avoid foreclosure. In the second quarter, the average annual equity gain for …
Oct 06
Ideas About Millennial Homeowners That Never Came True
Ideas About Millennial Homeowners That Never Came True Millennials have been a closely watched group in real estate for years, and forecasters have long made predictions about their entrance into homeownership. The beliefs about this massive segment of potential buyers have been significant—they favor renting over buying, they just want to live in the city, …
Oct 05
Average Mortgage Amount Increases to $410,000
Average Mortgage Amount Increases to $410,000 The dollar value of mortgages home buyers are taking out is soaring as they try to afford higher home prices. The average amount for a mortgage averaged $410,000 last week, according to data from the Mortgage Bankers Association. That marks the highest average mortgage amount since May. “With home …
Oct 05
Mortgage Rates Back Above 3%
Mortgage Rates Back Above 3% The 30-year fixed-rate mortgage averaged 3.01% this week, posting a sharp rise after spending nearly four months below 3%. Economists expect mortgage rates to continue to increase modestly over the next few months. “Mortgage rates rose across all loan types this week as the 10-year Treasury yield reached its highest …
Oct 04
More New Homes Are Being Built With 4-Plus Bedrooms
More New Homes Are Being Built With 4-Plus Bedrooms More Americans are desiring bigger homes since the pandemic—and builders are responding. The share of new single-family homes with four or more bedrooms posted a sharp uptick, unlike in recent years, the National Association of Home Builders reports on its Eye on Housing blog. The share …
Oct 04
Inventory Hits 2021 High, Competition Remains Fierce
Inventory Hits 2021 High, Competition Remains Fierce Home buyers are finding more housing selections this fall, but they’re still up against some serious competition. Nearly one-third of the 50 largest metros saw increases in the number of newly listed homes compared to last year, according to a new report from realtor.com®. “This September, buyers …
Sep 29
Affordable Counties for Homeowners
Affordable Counties for Homeowners Home prices surging has been squeezing housing affordability. Seventy-five percent of the U.S. counties recently analyzed had less affordable median-priced single-family homes in the third quarter compared to their historical averages, according to ATTOM Data Solutions, a real estate data firm. Home prices are rising faster than wages in most of the …
