The idea of portable mortgages is making waves. It's a concept where homeowners can take their mortgage with them when they move. This means keeping the same interest rate and terms instead of getting a new loan. The goal? To get more people moving in a slow housing market. Right now, many homeowners are stuck. They have low interest rates, around 3%, and don't want...
Homeownership is often seen as a dream, but the reality is that it comes with a lot of extra costs. These hidden expenses are adding up and making it harder for people to afford homes. Things like maintenance, insurance, and property taxes are increasing faster than people's incomes. This is making it tough for many families to keep up. Zillow, a real estate company...
The idea of portable mortgages is making waves in the housing market. This concept would let homeowners move their current mortgage to a new home, keeping their old interest rate and terms. It sounds like a dream for those stuck with low rates, but is it really the solution to the housing market's problems? Right now, many people are hesitant to move because they do...
The Federal Reserve decided to lower its interest rate this week, but mortgage rates didn't follow suit. Instead, they went up. The average rate for a 30-year fixed mortgage increased by 20 basis points after the Fed's announcement and Chairman Jerome Powell's press conference, according to Mortgage News Daily. This isn't the first time this has happened. The bond m...
In September, the U. S. housing market saw a slight boost in home sales. This uptick happened because mortgage rates dropped a bit, and more homes became available for buyers. The number of homes sold went up by 1. 5% compared to August. This is the fastest pace since February. However, it's important to note that this increase is not a huge surge. It just shows that...
Buying a home has been tough lately. Prices keep going up, and so do mortgage rates. But there's some good news. Experts think things might get better by 2030. First, let's talk about what "normal" means. A home is usually considered affordable if it costs about 30% of your income. That's the standard. Back in 2018, things were pretty balanced. Mortgage rates were l...
The real estate market is feeling the pinch. In May, sales of new single-family homes took a nosedive, plummeting by 13. 7% compared to April. This drop brought the sales figure down to 623, 000 units on a seasonally adjusted, annualized basis. To put that into perspective, it's not just lower than last month but also 6. 3% below May 2024. It's also lagging behind th...
The U. S. housing market is feeling the pinch. Home sales in May barely budged, rising just 0. 8% from April. This sluggish pace is the slowest for May since 2009, a year when the market was still recovering from a major crash. Compared to last year, sales dropped by 0. 7%, showing that the housing market is still struggling. Prices are still climbing, but not as fa...
The confidence of homebuilders has taken a hit, reaching near-record lows in June 2025. This drop is largely due to higher mortgage rates and economic uncertainty. The National Association of Home Builders and Wells Fargo Housing Market Index (HMI) showed a decline in builder sentiment, falling 2 points to 32. This is a stark contrast to June 2024, when the index wa...
The housing market is facing a tough start to the spring season. The reason is a mix of higher mortgage rates and worries about the economy. This has led to a slowdown in home sales. In March, sales of previously owned homes dropped by 5. 9% compared to February. This brings the annualized rate to 4. 02 million units. This is the slowest pace since 2009. Compar...