Mortgage rates continue to move lower this week even as higher borrowing costs have kept activity subdued across many areas of the housing market. According to data at HousingWire’s Mortgage Rates Center, the average rate for 30-year conforming loans was at 7.01% on Tuesday, down 5 basis points from one…
Continue reading →Former federal housing officials are weighing in on a new dynamic that has quickly emerged in this fall’s race for the White House. Marcia Fudge, former secretary of the U.S. Department of Housing and Urban Development (HUD) during the Biden administration, has publicly endorsed Vice President Kamala Harris in the…
Continue reading →Record-high home prices and elevated mortgage rates are prompting buyers to back out of home purchase agreements at elevated levels. Redfin’s newest housing market report shows that buyers backed out of 56,000 purchase agreements in June, which constitutes 14.9% of homes that went under contract. That’s the highest percentage of…
Continue reading →Home price growth in the second quarter was stronger than previously anticipated, but economists at Fannie Mae believe it will likely moderate soon, closing 2024 and 2025 at annualized rates of 6.1% and 3%, respectively. Even with more listings of homes available for sale compared to a year ago, existing-home…
Continue reading →The number of down payment assistance (DPA) programs for homebuyers has reached an all-time high. That’s according to the second-quarter 2024 Homeownership Program Index report from Down Payment Resource, which tracks homebuyer assistance programs. In Q2 2024, the number of down payment assistance options rose 2% relative to the previous…
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