The South is ranked highest for prospective homebuyers, despite high underwater mortgage rates
San Antonio and Tampa saw the largest increases in housing inventory. (iStock) Today’s home buying market is in the hands of sellers, competition remains fierce, and prices fluctuate. There are some states that are a bit more affordable than others. Zillow recently conducted a survey. Cities in Texas and Florida dominate Zillow’s top 10 best […]
Homebuyers need more than $127K for a down payment: Zillow
The story at a glance Currently, a homebuyer with a median income needs to put down 35% to buy a typical U.S. home, according to a Zillow analysis. That’s more than $127,000 for a $360,000 home. The analysis found that in some markets, particularly California, homebuyers will be required to make a down payment of […]
Mortgage rates fall below 7% in boost for homebuyers
The average rate on a 30-year mortgage fell this week to just below 7% for the first time since mid-April, providing a slight boost to homebuyers trying to weather a housing market slumped by rising prices and relatively few homes available. Mortgage buyer Freddie Mac said Thursday that interest rates fell to 6.94 percent from […]
This year’s 10 most affordable beach towns for homebuyers
Schools are on summer vacation and families across the country are packing up to go to the beach. You’ve probably dreamed of turning your summer vacation spot into a regular weekend getaway or even a full-time residence. but buy a beach house But it comes with a major hurdle. The reason is that the prices […]
Almost half of recent homebuyers stretch to make on-time mortgage payments: Study
In a recent survey, nearly half of new homebuyers said they were having trouble paying their mortgage on time, but many are still happy they chose to buy at the time of purchase. said. According to the survey, Conducted by real estate experts Clever states that 43% of recent homebuyers say they struggle to pay […]
More homebuyers are paying discount points as interest rates continue to rise
Buyers are turning to mortgage points to lower mortgage rates. (iStock) Mortgage points, a one-time fee paid at closing in exchange for a lower interest rate, are becoming increasingly popular as buyers look for ways to lower their interest rates. The Consumer Financial Protection Bureau (CFPB) found in a study that the number of homebuyers […]
High homeowners insurance rates scaring away Florida homebuyers, other states face the same issue
Southern states such as Florida, Texas, and Oklahoma have some of the highest homeowners insurance rates in the country. (iStock) Florida is in the midst of an unprecedented insurance crisis. The state has the highest homeowners insurance rates in the country. Insurify survey results revealed. These record high interest rates are turning away potential homeowners, […]
Biden wants to provide homebuyers $400 per month: State of the Union
President Joe Biden announced new housing during his State of the Union address. (iStock) President Joe Biden addressed rising housing costs in his State of the Union address Thursday night, saying he wants to create a tax credit that would give homebuyers $400 a month. Biden’s plan would create a $10,000 tax credit over two […]
Homebuyers gained thousands of dollars as mortgage interest rates fall: Redfin
Thanks to lower interest rates, prospective buyers have more purchasing power than last year. (iStock) People looking to buy a home are finding their money going a little further these days. A homebuyer with a monthly budget of $3,000 has $40,000 more purchasing power than he did a few months ago. Redfin report found. A […]
Homebuyers considering purchasing tiny homes and fixer-uppers to combat high home prices
Housing affordability remains low and some potential buyers are turning to alternative housing options. (iStock) As housing costs rise, homebuyers are redefining the traditional path to homeownership. About 43% of prospective buyers considered alternative housing options such as fixer-uppers and tiny houses. Remax study reported. 56% of prospective buyers surveyed by Remax said they would […]