May 9, 2024
Loans

Assumable mortgages are easier to find in these cities — but there’s a catch

Assumable mortgages, or home loans that pass on their mortgage rate from a home seller to a buyer, are considered an attractive option these days: They effectively allow buyers to inherit a far lower interest rate at a time when mortgage rates are higher than 7%. And while these loans are relatively hard to find

Read More
Mortgage

Falling rates boost home buyers’ purchasing power — but bidding wars are back

As mortgage rates fall, aspiring homeowners have gained nearly $40,000 in buying power in a matter of months, according to a new report.  But that power comes with a catch: increased competition.  Now that the 30-year mortgage rate has fallen from nearly 8% to below 7%, home buyers with a monthly housing budget of $3,000

Read More