How’s this for an if/then proposition?: If mortgage rates go down, mortgages become cheaper, then more people borrow to buy a home. Makes sense, right? Well, maybe not. The Mortgage Bankers Association reported this week that the average rate on a 30-year fixed dropped to 6.5%, the lowest level in well over a year. Yet
It may be a difficult time for some covid-era homebuyers as mortgage rates continue to go up and adjustable-rate mortgages are due to reset. Since 2019, more than 1.7 million people bought a home with an adjustable-rate mortgage. Many of the loans were at five years of a lower fixed interest rate and averaged about
India’s housing market is experiencing a record-breaking surge. Residential apartments are selling rapidly, with nearly 5 lakh units sold in 2023-24, marking a decadal high, says ANAROCK data. In Gurugram, Godrej Properties sold houses worth over Rs.3,000 crore within three days of launching its Godrej Zenith project, their most successful launch ever. Last month, Mumbai