Tag: Mortgage Rates
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And “America’s Most Affordable Big City” Is…
In this beloved city, today’s typical deed holder needs a yearly income of $60K to live comfortably. Considering it’s a big city, this is a modest income. So this news is impressive. And so is the city itself. Frank Zappa even did a jazzy song about moving there, so you know there’s something to this.…
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Shakeup at Freddie and Fannie: Update
How is that shakeup going so far? When we last checked in on things, new director William Pulte was slashing jobs at the Federal Housing Finance Agency. That’s the umbrella agency for Fannie Mae and Freddie Mac. Additionally, Pulte claims to have saved millions of dollars by eliminating programs related to climate effects and diversity.
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The Bulk of U.S. Home Deeds Are About to Be Passed Along. Millennials, Are You Really Ready?
A Realtor.com survey is out, showing 23% of millennials feeling ready to buy a home in the next six months. This is an interesting turn in attitudes. And it only appears with millennials. Just 15% of their generation felt ready in late 2024. If you happen to be a millennial getting ready to buy —…
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Suddenly, Nearly One in 10 Mortgage Applicants Want Adjustable Rates. Home Buyers, Take Note
Mortgage rates jumped this month. Now, the share of adjustable-rate mortgage applications is back up to where it was two years ago — 9.6%. What is going on? We’re here with the breakdown.
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Tariffs and More: What Happens Now With the 2025 Housing Market?
There’s some extra tension in the real estate market. Anyone can sense it. Knowing what’s going on underneath it can help those who hope to acquire a deed this year. Home prices haven’t stopped rising in 2025. Prices could easily go up between 3 and 4 percent more, over the rest of the year. And…
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Is the 30-Year Mortgage Best?
Most home buyers go with a 30-year mortgage. There are other options — most notably the 15-year mortgage. The shorter mortgage typically comes with a lower interest rate. But it also means higher monthly payments. The monthly weight of a 30-year mortgage is easier to handle. This, in turn, makes homeownership an easier reach for…
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No Housing Market Crash on the Radar: NAR’s 2025 Prediction
The National Association of REALTORS® (NAR) expects a “rosier” housing market this year. If acquiring the deed to a home is on your list of new year’s resolutions, take note. NAR predicts a market rebound after our recent, two-year stall. No housing crash. Prices should keep going up — but gently, as U.S. real estate…
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Who Wins With Rate Cuts? First-Time Home Buyers, or Wall Street Investors?
Hopeful home buyers have waited for the Feds to cut interest rates forever. Well, it feels like forever. In September 2024, Federal Reserve Chair Jerome Powell finally did it. It was the first time the Federal Reserve lowered banks’ interest rates since the stimulus days of 2020. Anticipating a better economy, mortgage rates are starting…
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Voters Tell Candidates: Act on Housing Affordability Now!
With absentee ballots already issued in Alabama, early voting has started. The Center for Popular Democracy ran a survey, and 84% of voters in swing states say housing is a big deal as they fill in their ballots, The Financial Times reports. So, does the 2024 election runup bring us hope that people will soon…
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Still on the Fence About Selling or Buying This Summer? Consider This.
On the fence about selling your home? Or maybe you’d love to be a buyer, but wonder whether to watch and see if mortgage rates drop… And why not wait for better rates, if you have time to spare? Then again, summer is a traditionally popular time to move. Did you know most deeds change…
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Buyer’s Market in Dallas? It’s All Relative.
Lately, the homes for sale in Dallas stay on the market a little longer. Little by little, sellers are lowering their price expectations, and Dallas home buyers are getting deals. Homes in Dallas stayed on the market, on average, for 37 days in April 2024. That’s up 8% compared to last year. Some (about 12%)…
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Can’t Wait to Move. (If Only We Could Pack Up Our Low Mortgage Rate and Take It With Us!)
Some people wish they could move, but hesitate to sell their current homes. They might be thinking: “I’d gladly sell my home right now, if only I could shift the remaining 25 years of my 4%-interest mortgage to the next house I buy! (Oh, well.)” “Giving up our 3% rate and getting a new mortgage…
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Time for a Move? Sellers Are Perking Up.
Home sellers are back. It’s an important sign of confidence in the U.S. housing market. Fannie Mae keeps tabs on people’s feelings (“sentiment”) about the market. And people are feeling better about it — if they happen to be potential sellers. Two-thirds of the people surveyed told Fannie Mae this is a good time to…
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It’s Election Year. How Will This Affect Sellers and Buyers?
As we enter an election year the current administration points to how strong the economy is. But there’s a disconnect between these regular public assurances and people’s life experiences. So many are either locked into their current mortgages or just completely sidelined from the market. This is no joke: High mortgage rates. Wages lagging while…
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State of the Home Buyer: White House Promotes New Set of Tax Credits
Housing affordability remains out of reach for many in the U.S. population today. What’s the matter? Joe Biden’s March 2024 State of the Union address laid out the latest plan to help. Here’s an update on the issue, and how the administration intends to deal with it.
