Migration

As the average 30-year fixed mortgage rate nears 8%, new commentary from First American Chief Economist Mark Fleming details the predictions of where mortgage rates will end up throughout the remainder of the year.

Five Texas metros topped the top 10 list of best places to purchase a home, according to a new study from WalletHub, which examined the strongest local real-estate markets throughout the U.S., as the housing market remains skewed toward home sellers rather than buyers.

Diving into search engine keyword searches, Point2 delved into the thoughts of current real estate investors and those looking to invest/move internationally.

According to a new analysis, of the top ten cheapest cities to buy a home in 2023, nine are located in the South, while eight out of the top 10 costliest cities remain in pricey California.

A new report from CoreLogic revealed annual single-family rent growth has returned to pre-pandemic rates, growing by just 3.3% year-over-year in June, representing the lowest gain since autumn 2020.

“The steep decline in sales driven by the rapid rise in mortgage rates seems to be behind us, as the initial shock of higher mortgage rates has worn off,” said Mark Fleming, the Chief Economist for First American Financial Corporation.

While HELOC activity surged in 2022, a new report from CoreLogic showed that demand slowed significantly in the first half of this year as Freddie Mac revealed the average 30-year fixed-rate mortgage reached its highest level in over two decades.

Despite the increasing risks of flooding, heat waves, and hurricanes, Americans are still flocking to metros such as Las Vegas, Sacramento, and Tampa, which topped the list of most popular migration destinations in Redfin's latest report.

Researchers from Finance of America Reverse report that a lack of education about their options could be preventing Americans’ use of their homes as both a shelter and financial springboard.

“Some buyers are hoping they can get a home for under asking price to make up for high interest rates because they’re hearing the housing market is slow. But what’s happening nationally isn’t necessarily true [locally],” said Kristin Sanchez, a Redfin Premier Agent.