Tag Archives: Mortgage Rates

According to a new survey from Arrived, Americans are seeking financial security and stability from homeownership, but many remain hindered by unaffordability. Nearly 80% of Gen Zers report home prices are their biggest barrier to entering the housing market and purchasing a home.

While households nationwide continue to struggle with the increased cost of living, doxoINSIGHTS’ 2023 State by State Bill Pay Market Report revealed the average American is spending almost $25,000 per year on household expenses, with 73% of consumers reporting that inflation is currently impacting their ability to pay bills.

A new Zillow survey reveals that 80% of mortgage holders report having a rate of less than 5%, as over time, homeowners will come to terms with higher rates as commonplace.

While housing affordability remains a worry for many Americans, the MBA's Purchase Applications Payment Index revealed purchase applications inched downward in June, as home prices and mortgage rates remain elevated nationwide.

According to ATTOM's 2023 U.S. Home Equity & Underwater Report, the share of mortgaged homes that were equity-rich in Q2 2023 increased from 47% in Q1, reaching the highest point in four years.

Five California metros have been named the least affordable cities and worst cities to purchase a home for first-time homebuyers, according to a new study from WalletHub. Multiple Golden State areas were also ranked for the highest cost of living throughout the U.S.

While rents for one-bedroom units experienced their first year-over-year decline since 2020, prices remain 24.1% higher than 2019. However, Realtor.com’s June 2023 Rental Report predicts slowing inflation throughout the remainder of the year and continued financial relief for renters' budgets.

Housing demand remains strong across the U.S., according to the RE/MAX National Housing Report for June, as home sales rose 5.4% from May, posting the highest median sales price since June 2022's peak price of $426,000.

Following three quarters of decline, ATTOM reports that home investment returns rose in Q2, led by a springtime surge in buyer demand, pushing seller profits back up to nearly their highest level recorded in the past decade.

According to First American’s Potential Home Sales Model, the nationwide sales pace will begin to settle into a new normal, as potential existing-home sales decreased in June, suggesting they may have hit bottom.