Home affordability improved as mortgage rates dipped, bringing the monthly mortgage payment on a typical single-family home with a 20 percent down payment to $2,137 — a 5.5 percent decrease from Q2, though still up 2.4 percent year over year. Continue reading
A dip in the weekly average for 30-year mortgage rates dropped the average mortgage payment to $2,575 in November, and homebuyers are taking advantage. Continue reading
It doesn’t matter that there are fewer buyers to compete against. Rising mortgage rates and depleted inventory continue to erode options. Continue reading
Despite its balancing out, the market remains far from homebuyer-friendly with buyers paying 75 percent more on the typical mortgage payments than in 2019, according to Zillow. Continue reading
The second quarter of 2022 saw the affordability of the typical home purchase erode at the fastest pace in at least two decades. Continue reading
Mortgage payments are as high as it’s been in recent memory. But a sudden slowdown in growth may spell a turning point for the market. Continue reading
The number of homeowners who are more than 30 days late on mortgage payments dropped for the 11th straight month in February. Continue reading
Buyers have watched mortgage rates shoot from 3 percent to 5 percent this year alone, and that common refrain — “Is it really the best time to buy?” — is always top of mind for clients, agents told Inman. Continue reading
The median sales price of single-family existing homes increased in 99 percent of the 183 markets measured by the National Association of Realtors, while 78 percent of markets saw double-digit price gains. Continue reading
Despite market headwinds, housing affordability improved for the second consecutive month, according to the National Association of Realtors’ August Housing Affordability Index. Affordability improved on a national and regional basis, with the greatest… Continue reading