Lately, inflation has been tough to handle. Last month, prices went up by 2. 9% compared to the same time last year, according to the Labor Department. This shows that the Federal Reserve is still fighting against quick price increases. Last year, the Fed started lowering interest rates to levels no
You might have heard that mortgage rates were dropping a few weeks ago. Well, that's not the case anymore. The average rate for a 30-year mortgage just hit 6. 93%, the highest it's been since early July. This is a big deal because it's the most common type of home loan in the U. S. Why the sudden j
As 2024 draws to a close, mortgage rates are on the rise again. The average 30-year fixed-rate mortgage is now just below 7%, the highest it's been in six months. This increase comes despite the Federal Reserve's recent rate cut. The central bank, however, is less optimistic about further cuts this
As we wrap up 2024, the housing market has seen a growth in supply, but there's a catch. Many homes have been on the market for quite a while without finding buyers, a trend not seen since 2019. In November 2024, active listings were up by 12. 1% compared to the same month in 2023, hitting the highe
November saw a surprising boost in home sales, with a 4. 8% increase compared to October. This puts sales at an impressive 4. 15 million units annually, according to the National Association of Realtors. The best part? This is a 6. 1% rise from last year, making it the third-highest pace of the year
The Federal Housing Finance Agency has decided to raise the maximum amount they'll guarantee for single-family home loans, starting in 2025. This change reflects the increasing prices of homes across the country. From January, Fannie Mae and Freddie Mac can now back loans of up to $806, 500 for home
Good news for those hunting for a home! In October, the number of existing homes sold jumped by 3. 4%. This is the first time in three years that sales have gone up from one year to the next. Experts say this might be the end of the home sales slump. There were more homes up for grabs compared to la
Hey there! Did you know that the average rate for a 30-year mortgage in the US just dropped a bit? It went from 6. 79% to 6. 78%, ending a six-week rise. Why is this happening? Well, mortgage rates are like a mirror reflecting the 10-year Treasury bond yields, which have recently been bouncing aroun
You might be wondering what's happening in the housing market lately. Well, mortgage rates have been on the rise, and it seems like everyone is taking a moment to think about what this means. Last week, mortgage rates jumped to their highest point since July. This increase happened as investors star
The mortgage market is experiencing a rare bout of optimism as interest rates plummeted to their lowest level since early 2023. This unexpected development has sparked hope among potential homebuyers who have been waiting on the sidelines for the perfect moment to make a move. Freddie Mac announced
