Mortgage rates continue to trend down, but affordability remains a pipe dream: Freddie Mac
Interest rates on 30-year mortgages have fallen again, but housing remains unaffordable in most areas. (iStock) Mortgage rates fell to 6.63% this week, according to Freddie Mac. Primary mortgage market research. The 30-year fixed rate mortgage rate last week was 6.69%, down 0.06 points. The 15-year mortgage rate also fell slightly from 5.96% last week […]
Homeowners moving across state lines, seeking affordability, find it in certain cities
Rising housing costs and remote work opportunities are driving households to move to cheaper areas. (iStock) Remote work, which flourished in the early days of the pandemic, erased boundaries for many workers and prompted people to move to cheaper cities. Charlotte, Providence and Indianapolis are some of the cities where the most people moved, according […]
Mortgage rates climb, adding to affordability woes
Sam DeBianchi, real estate agent and president of DeBianchi Real Estate, advises millennials who are struggling to buy a home on how to make money. After falling slightly last week, mortgage rates have risen again and remain in the mid-6% range. Although interest rates have fallen by about 1 percentage point since October, home prices […]
Mortgage rates finally expected to dip below 6% in 2024, but affordability remains low
Mortgage rates are set to be cut this year, but affordability remains an issue. (iStock) Good news for 2024 homebuying candidates. Interest rates on 30-year mortgages are expected to fall below 6% by the end of the year. Fannie Mae Forecast Report. 2023 was one of the most volatile years in history for the housing […]
Property insurance rates keep climbing, worsening affordability crisis
The Barrons Roundtable panel provides insight into the increasing pressures on consumers. In recent years, prices for home insurance and auto insurance have soared in the United States, and many people are having difficulty paying their premiums, and the price hike is expected to get worse. Record losses from natural disasters, inflation, regulatory and reinsurance […]