Since the Fed cut rates 50 basis points on September 18th, we’ve seen 30-year fixed mortgage rates rise meaningfully. You may be wondering how this can be. The Fed is reducing the Fed Funds Rate, which is not mortgage rates or even a long-term rate. The Fed Funds Rate is a very short-term rate, literally […]

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 […]

After months of anticipation, the Federal Reserve cut interest rates on Wednesday by half a percentage point. That will have an impact on the housing market — but it’s unlikely to make a huge difference for those struggling to afford a home. Mortgage rates might not actually drop much further right now Mortgage rates have been pretty […]

Housing sentiment was largely unchanged in August as consumers remained cautious despite some improvements in mortgage rates and home listings.  Fannie Mae’s Home Purchase Sentiment Index (HPSI) showed a modest rise of 0.6 points to 72.1, but overall homebuying sentiment saw little change. A notable 39% of consumers surveyed said they expect mortgage rates to decline […]

Mortgage interest is the fee you pay for borrowing money to buy a home. It’s calculated as a percentage of the loan amount and is paid over the life of the mortgage. This interest rate can be fixed or adjustable and is added to your monthly payments throughout the loan term.  For example, with a […]

The housing market has been tough in 2024, with stubbornly high mortgage rates keeping many homebuyers on the sidelines. But in August, a light appeared at the end of this tunnel when rates dropped to yearlong lows—below 6.5% for a 30-year fixed home loan. And with the Federal Reserve signaling a much awaited interest rate cut in September that […]

While the Federal Reserve doesn’t directly set mortgage rates, it influences them by making changes to the federal funds rate, the interest rate that banks charge each other for short-term loans. The Fed’s decisions alter the price of credit, which has a domino effect on mortgage rates and the broader housing market.  “When the Fed […]

One in every 5,071 properties across the United States had a foreclosure filing in June, according to ATTOM’s midyear foreclosure market report. The report revealed a total of 177,431 properties with foreclosure filings, including default notices, scheduled auctions, or bank repossessions, in the first six months of 2024. This number was down 4.4% from the […]

There is a mismatch between the prices of homes being built, and the prices home buyers expect to pay, according to recent surveys from NAHB and the U.S. Census Bureau. While 38% of buyers expect to pay less than $250,000 for their next home nationwide (and 19% expect to pay less than $150,000), only 5% […]

It could soon be easier to borrow against your home after U.S. regulators approved a Freddie Mac pilot program for purchasing second mortgages.  The plan, announced Friday, is meant to help homeowners who secured low-interest mortgages and want to access their home’s equity for a loan. The Federal Housing Finance Agency (FHFA) said it granted “conditional […]