simonkr / Getty Images Realtor.com predicts that mortgage rates could dip to 6.5% by the end of the year, while Fannie Mae expects them to fall to 6.7%. The good news is that either way, mortgage rates are expected to drop after an aggressive rate hike campaign from the Fed in order to cool down
Sellers have been resisting putting their homes on the market to avoid dealing with elevated mortgage rates. Lilit Amirkhanian/Getty, Tyler Le/BI The housing market’s lock-in effect cost the US economy $20 billion last year. High mortgage rates led to economic stagnation and reduced housing activity. Americans who moved paid an extra $21 billion per month
RBA interest rate hikes are continuing to squeeze borrowers. (Source: Getty/AAP) More than half a million Aussie mortgage holders have switched to interest-only repayments to ease budget pressures. The Reserve Bank of Australia’s (RBA) rapid interest rate hikes have added thousands of monthly repayments and many are struggling to keep up. A Finder survey found
Key takeaways FHA 203(k) loans provide funding to finance both a home’s purchase and the cost of repairing it. If you qualify, you can obtain one from an FHA-approved lender. This type of loan is reserved for borrowers who intend to live in the home, not house-flippers or investors. There are two types of 203(k)
Annual growth in spending on rent and mortgages accelerated in May, rising by 6.3%, according to a major bank’s analysis of its current accounts. This was faster than a 3.6% annual rise recorded by Barclays in April. The data was sourced using Barclays current account transactions which were identified as direct debits and bank transfers