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Tag Archives: 30-year fixed mortgage rate

Home Affordability Got a Boost in Time for Christmas

“Homebuyer affordability improved for the second consecutive month in December as interest rates declined significantly from recent highs,” said Edward Seiler, MBA’s Associate VP of Housing Economics and Executive Director for the Research Institute for Housing America. Here’s what to expect as we approach spring.

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Inclement Weather Impacting U.S. Homebuying Activity

As inventory remains alarmingly low, home prices are also rising in parts of the U.S., with some potential buyers being hampered by harsh weather. But in a new report, Redfin agents say that “serious buyers are finding a way to see desirable homes,” and demand is picking up in warmer regions.

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1 in 3 Sellers Are Relocating for More Spacious Homes

According to a new Redfin survey, the most common reason home sellers are relocating is the desire for more space, followed by proximity to family and a lower cost of living. Click here to see why sellers are choosing to move despite record-high mortgage rates and an increasing lack of inventory.

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Pending Home Sales Improve Over Recent Lows

“Fading recession fears and the prospect of further home price increases have brought some house hunters off the sidelines, but for the most part, buyers remain hesitant to jump into the market because their buying power is so much lower than it was a year ago,” said Redfin Chief Economist Daryl Fairweather.

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