[Bankrate, Getty Images] The U.S. housing market is on an absolute tear. Month after month, prices break new records. Sellers are ecstatic. While buyers can revel in mortgage rates near all-time lows, that’s about the only upside to shopping for property in this market. If you’re considering buying a home now, the soaring prices raise an obvious question: Should […]
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[MarketWatch] Home prices are rising in every state across the U.S. The numbers: Home prices continued to grow at a record pace in June, according to a leading barometer. The latest edition of the S&P CoreLogic Case-Shiller Home Price Index showed that home prices increased 18.6% from a year ago in June, marking the third consecutive […]
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[Business Insider, Getty] Rich Americans, millennials, and Wall Street are keeping US home prices permanently higher.Demand is strong as the wealthy and investors scoop up homes at historically high prices.A wave of millennial demand can boost prices even higher, and builders aren’t rushing to step in.The housing market is stuck between a rock and a […]
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[CNBC] Sales of new single family homes fell to an annualized rate of 676,000, 6.6% below May’s rate of 724,000 and 19.4% below the June 2020 level of 839,000.The median price of a newly built home in June rose just 6% from June 2020The inventory of new homes for sale jumped from a 5.5-month supply […]
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[The New York Times] A moratorium on evictions did little to address the bigger problem: The country is running out of affordable places for people to live. The United States averted the most dire predictions about what the pandemic would do to the housing market. An eviction wave never materialized. The share of people behind […]
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[Go Banking Rates, Shutterstock] The lessons of the 2008 housing crisis are a living memory, and the effects of the recession of that era still are being felt. Although today’s housing market is largely hot, experts are bracing for a wave of evictions triggered by pandemic-related disruptions. That, they fear, could be the catalyst for a […]
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[CNBC, Getty Images] The average interest rate for 30-year fixed-rate mortgages decreased to 3.17% from 3.18% last week, but the Mortgage Bankers Association said applications for a mortgage to purchase a home fell 3% and were 2% lower than the same week a year ago.“Tight housing inventory, obstacles to a faster rate of new construction, […]
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[New York Post, Realtor.com] A home that got 88 offers — 76 of which were cash offers — must be really something, right?via Realtor.com A home that got 88 offers — 76 of which were cash offers — must be really something, right? Well, this four-bedroom, two-bathroom abode 30 minutes outside Washington, DC, and only […]
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(CNN) Mortgage rates fell to another record low last week, for the 15th time this year. The average interest rate on a 30-year fixed-rate mortgage dropped to 2.67%, according to Freddie Mac. That’s the lowest level in the nearly 50 years of the mortgage giant’s survey. The 15-year fixed-rate mortgage dropped to 2.21%. This new low comes as […]
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The average US 30-year fixed mortgage rate fell to 2.81% from 2.87%, its lowest in Freddie Mac data going back nearly 50 years.The reading also marks the 10th record low this year, reflecting the tumbling borrowing costs that fueled the housing market’s rebound.Sales of new and existing homes have thrived through the pandemic, but steadily rising prices […]
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