Mortgage Rates Hitting 8% This Year Is Not Impossible—and Yet, That Shouldn’t Be Buyers’ Biggest Concern
Last week, mortgage rates hit a three-year high—a headline that has been on repeat for several months. In fact, in less than four months, the rate has risen a percentage point. The average rate on 30-year fixed home loans rose to 6.49% for the week ending July 9—now it stands at 7.40% for the week
Housing Week Ahead: Home Sales, Luxury Trends, and New Inflation Data
The coming week will bring a steady stream of housing market indicators, as well as new reports from the Realtor.com economics team. On Wednesday, senior economist Anthony Smith will have a look at the latest pricing trends in the luxury market with the September Monthly Luxury Report. On Thursday,
Mortgage Rates Will Remain Above 7% Through 2027, Top Economist Forecasts
Mortgage rates will remain elevated above 7% through the end of next year, according to the forecast of a top housing economist with the Mortgage Bankers Association. "Inflation is too high, leading central banks to raise short-term rates, while budget deficits and debt are unsustainably high, leadi
Price Cuts Are the Best Concession To Motivate First-Time Buyers, Survey Finds
First-time homebuyers are gaining confidence in their ability to make the correct decisions in a challenging market. However, one major factor still needs to change before many prospective buyers will take the leap: Sellers need to bring home prices down. In a survey of people who are searching for
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