Redfin reports that nine of the 10 housing markets holding up best are either in the Midwest or on the East Coast.
Tagged: Housing Affordability
MBA, however, says the recent stretch of modest affordability improvement likely hit a speedbump this month, as mortgage rates rose above 6%.
As mortgage rates hit 5.89%, it takes 35.51% of median income to pay monthly principal & interest.
Zillow says homes sold at or near $1 million shrank by nearly 500 square feet, a new low for 2022.
The committee will focus on FHFA’s regulated entities like Fannie Mae, Freddie Mac & Federal Home Loan Banks.
Potential homebuyers can use the Home Swap interest-free home-equity advance to increase their down payment and lower their mortgage rates.
The Biden Administration announced a plan with billions of dollars for new steps to tackle the housing supply crisis.
The national median payment applied for by applicants was down just four dollars to $1,893 in June from $1,897 in May.
Redfin found that a record share of homebuyers are relocating as high prices and mortgage rates make affordable areas more attractive.
Lack of supply & housing affordability cited as biggest hurdles in latest NAR survey.