In short, no. You probably shouldn’t wait to buy a home until mortgage rates drop more drastically. Mortgage rates are just one part of the affordability equation. You also have to consider home prices, a factor of housing supply and demand. The current housing market is in a crunch. To put it simply, buyers outnumber […]

The Federal Reserve’s recent rate cut, while anticipated, doesn’t automatically translate into lower mortgage rates. Mortgage rates are complex and are influenced by several factors, including the 10-year Treasury yield, investors’ expectations about the economy, and inflation. This means that even with the Fed signaling further rate cuts, mortgage rates could still rise if inflation […]

After a period of sustained high interest rates, the real estate market has been defined by a “lock-in” effect, where homeowners with low-rate mortgages have been hesitant to sell, leading to limited inventory and high prices. However, with the Federal Reserve widely anticipated to lower its benchmark interest rate this fall, the housing landscape could […]

With a growing gap between supply and affordability, a new report from Cotality reveals the U.S. housing market is seeing a significant shift in what defines a “starter home.” Once characterized by modest new builds on the outskirts of town, the starter home is now more likely to be an older, smaller property — and it’s commanding […]

For the past several years, home sellers have been in the driver’s seat, able to command high prices for homes, often selling quickly and with multiple offers.  Times appear to be changing. According to data recently released by Redfin, nationally there are currently 500,000 more home sellers than homebuyers.  While somewhat surprisingly, this has yet […]

When deciding whether to buy a home in today’s climate, you’ll want to think beyond market conditions and focus on your individual circumstances. Here are some personal considerations to keep in mind. Financial health Take stock of your current savings, credit score, and debt. Can you afford a home? Or does renting make more sense?  Housing is a […]

Starter homes are getting even smaller. Inflation is hard-felt by typical Americans, even if it seems to be mostly under control on paper. It’s hit the housing market too, only in the form of shrinkflation. Homes are getting smaller—and more costly. In fact, they’re hitting levels we haven’t seen since 2009 and 2010, after the Great Recession. […]

Potential homebuyers are responding to lower mortgage rates and a higher supply of homes for sale. That fueled mortgage demand last week, as consumers looking to refinance pulled back. Total mortgage application volume rose 2.8% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. An additional adjustment was made for […]

Annual inflation dropped to 2.4% last month as housing costs continued decelerating, an upbeat sign for prospective homebuyers. The September inflation figure from the consumer price index released on Thursday was down from 2.5% the prior month, giving Federal Reserve policymakers a positive signal for further rate cuts. For homebuyers, the lower inflation figure should […]