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Tag Archives: Mortgage Rates

Buyers Looking Forward to Homeownership in 2024

According to a new Realtor.com survey, while 2024 is expected to remain a challenging year for homebuyers, nearly all first-time homebuyers overwhelmingly feel that they’ll be able to afford a home within their lifetime.

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Mortgage Payments Dip as Lock-In Effect Eases

More home sellers are listing their homes in the New Year, according to a new Redfin report, as mortgage applications tick upwards from last year’s levels while monthly housing payments decline from their all-time high recorded in October 2023.

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How Many U.S. Households Are Considered ‘House Poor’?

According to a new Creditnews report, the number of American households considered "house poor" varies by state, with 17 exceeding the national average, as housing affordability continues to put financial pressure on prospective homebuyers and homeowners alike.

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Inventory Improves as New Listings Offer Buyers More Options

Realtor.com has released its Monthly Housing Market Trends Report for December, which revealed that while the share of active listings on the market remains low compared to pre-pandemic levels, an uptick in inventory could mean a broader range of homes for homebuyers to choose from.

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Accessory Dwelling Units Offer Relief from Housing-Related Challenges

Accessory Dwelling Units, known as ADUs, are small, independent units that are inside of, attached to, or detached from a primary residence, and a new report from the Joint Center for Housing Studies revealed they may have the potential to address housing-related challenges like affordability, equity, and environmental issues.

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Consumers Reveal Their 2024 Mortgage Rate Expectations

The Fannie Mae Home Purchase Sentiment Index revealed consumers' optimism surrounding mortgage rates surged in December, and according to Mark Palim, VP and Deputy Chief Economist at Fannie Mae, "a more optimistic rate outlook among consumers may signal an expectation that home affordability pressures will ease in 2024."

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Starter Home Price Appreciation Ending the Year Strong

Home prices reached a new peak for the eighth consecutive month in November, according to First American's latest Home Price Index report, which revealed that price appreciation for small, affordable homes for first-time buyers remained strong, with starter home prices growing the fastest in many U.S. markets.

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