Homeowners are staying put for much longer periods of time, reducing available inventory. It’s contributing to the lock-in effect and sending home prices surging. These are the 10 least locked-up housing markets, according to Redfin. Americans are holding on to their homes for longer, and it’s becoming a big issue for prospective homebuyers. From 2005
Mortgage rates have fallen in seven of the last eight weeks. The downward-trending graph for interest on new home loans has got to be at least a little encouraging for buyers and sellers heading into spring. This week, the average 30-year fixed-rate mortgage did edge up marginally to 6.65%, according to Freddie Mac. Still, that’s
National Averages of Lenders’ Best Rates – New Purchase Loan Type New Purchase Rates Daily Change 30-Year Fixed 6.78% +0.12 FHA 30-Year Fixed 7.15% +0.16 VA 30-Year Fixed 6.40% +0.17 20-Year Fixed 6.54% +0.13 15-Year Fixed 5.90% +0.12 FHA 15-Year Fixed 6.73% +0.28 10-Year Fixed 5.74% +0.28 7/6 ARM 7.36% +0.19 5/6 ARM 7.27% +0.10
It’s important to choose the right mortgage loan term — especially while inflation is high. Getty Images While the inflation dropped slightly in February, it has been ticking back up overall over the last few months, and it’s changing how smart homebuyers approach their mortgages. If you’re in the market for a home this year
Existing home sales fall to lowest level since 1995 The latest home sales numbers painted a discouraging picture for the real estate industry as sales fell to the lowest level since 1995. Straight Arrow News Rising home prices in metro Phoenix are making it difficult for families to afford to buy a home. The median
The chaos unfolding in financial markets has been exhausting for investors. Yet, for fatigued homebuyers, the market mayhem has come with a silver lining: mortgage rates are down. The 30-year mortgage rate has dropped for six straight weeks as bond yields have slipped. A chaotic few weeks for financial markets have produced one perk for
National Averages of Lenders’ Best Rates – New Purchase Loan Type New Purchase Rates Daily Change 30-Year Fixed 6.63% -0.01 FHA 30-Year Fixed 6.80% -0.13 VA 30-Year Fixed 6.17% +0.03 20-Year Fixed 6.36% +0.03 15-Year Fixed 5.73% +0.01 FHA 15-Year Fixed 6.39% -0.07 10-Year Fixed 5.46% -0.30 7/6 ARM 7.10% +0.02 5/6 ARM 7.14% -0.06
New allegations tied to a mortgage fraud scandal that rocked the industry and landed an executive in federal prison now implicate JPMorgan, the lender on the deal, and the borrower — New York’s Chetrit Group. Wells Fargo, which filed suit in federal civil court as trustee on a $481 million CMBS loan, alleges JPMorgan knew
The average US 30-year mortgage rate declined for a sixth straight week to the lowest level since early December, sparking a pickup in purchase and refinancing activity. The contract rate on a 30-year mortgage slipped 6 basis points to 6.67% in the first week of March, according to Mortgage Bankers Association data released Wednesday. The
Mortgage rates are on a bit of a downward trend, with the average rate on a 30-year fixed mortgage dropping from the 6.9% range in early February to around 6.7% this week. But a shaky economy will likely keep the housing market frozen for a while. US stocks tumbled after President Donald Trump refused to