“Our phones are silent” — halt disrupts government homebuying initiatives.
The ongoing government shutdown is hitting unprecedented lengths, making it the longest total shutdown in U.S. history. The effects on the housing market are becoming increasingly severe. In rural Oklahoma, real estate agent Christina discusses the challenges. “About 80 percent of our mortgages are USDA or HUD-184. We’re already starting to feel the effects. Two […]
Mortgage rates sail past 7% as market moves into critical spring homebuying season
Mortgage rates rose to new highs this week, but buyers are adjusting. (iStock) Mortgage interest rates have climbed above 7%, which is likely to dampen the appetite for home buyers during the market’s key spring home buying season, Freddie Mac said. The average interest rate on a 30-year fixed-rate mortgage was 7.10% for the week […]
Mortgage rates creep up to 7% as home-buying season begins
Average long-term mortgage rates in the U.S. rose to a five-week high, a setback for prospective homebuyers during what is traditionally the busiest time of the year for home sales. Mortgage buyer Freddie Mac announced Thursday that its average interest rate on 30-year mortgages rose to 6.88% from 6.82% last week. The average interest rate […]
Spring homebuying season brings slightly more optimism as listings continue to rise
The home purchase sentiment index rose 2.1% in February. (iStock) The spring buying season is heating up as more homes hit the market and homebuyers are eager to make purchases now that the winter frosts have subsided. fannie mae’s Home purchase sentiment indexThe index showing home sales rose 2.1 points in February. This is the […]
Realtors group agrees to cut commissions in landmark $418M settlement — here’s how it’ll change the homebuying landscape
The National Association of Realtors agreed Friday to a landmark settlement over allegations that they conspired to inflate brokerage commissions. The agreement is likely to reduce costs and change the way Americans buy and sell homes. The powerful lobbying group will pay $418 million in a national antitrust lawsuit that requires NAR to eliminate decades-old […]
Mortgage rates ease slightly as spring homebuying season nears: Freddie Mac
Buyers expecting lower mortgage rates will have to wait longer. (iStock) Mortgage rates fell slightly this week, enough to rekindle homebuying momentum as the market prepares for this year’s traditionally busy season, Freddie Mac said. The average interest rate on a 30-year fixed-rate mortgage for the week ending March 7 was 6.88%, according to Freddie […]