Mortgage applications for home purchases—a gauge of future homebuying activity—were up 13% in the week ending May 2 compared to a year ago, the Mortgage Bankers Association reported Thursday. Mortgage rates have barely budged but home buyers appear to be jumping into the market this spring, despite elevated home prices in most markets Full article here: Following Rise in Pending Sales, Mortgage...
Considering mortgage applications for home purchases are posting double-digit percentage annual increases, “it’s a clear sign that this year’s spring home buying season is off to a stronger start” than last year, says Sam Khater, Freddie Mac’s chief economist. Full article here: After a Wild Ride, Mortgage Rates Settle Back Under 7% (512) 853-0110...
As housing affordability remains a critical challenge across the country, mortgage rates continue to play a central role in shaping homebuying power. Mortgage rates stayed elevated throughout 2023 and early 2024. Recent data, however, shows a modest decline in mortgage rates. Even slight declines can have a significant impact on housing affordability, pricing more households back into the...
Homeownership is a symbol of financial stability for most Americans—but for those living in states where the cost of living is higher, it might seem like they're working solely to keep a roof over their heads. The median home price nationally is $412,000, according to the Realtor.com. Full article here: The Number of Days You Need To Work To Afford a Monthly Mortgage Payment (512) 853-0110...
Mortgage rates are easing slightly and expected to hover in the mid-6% range in the coming weeks, says Jessica Lautz, deputy chief economist at the National Association of REALTORS®. It may bode well for the spring homebuying season: “Buyers can plan and search for homes without the uncertainty of fluctuating mortgage rates,” Lautz says. Full article here: Will Lower Mortgage Rates Make Home...
The 30-year fixed-rate mortgage dropped to the lowest level of 2025, but it doesn’t seem enough to create urgency among prospective home buyers. Freddie Mac reports the 30-year fixed-rate mortgage averaged 6.76% this week. At this week’s 6.76% rate, the monthly mortgage payment on a $400,000 home would be $2,078, assuming a 20% down payment. With a 10% down payment, the monthly mortgage payment would...
The average rate on a 30-year mortgage in the U.S. eased for the sixth week in a row, a welcome boost in purchasing power for home shoppers just as the annual spring homebuying season gets going. The average rate fell 6.76% from 6.85% last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.94%. Full article here: Average U.S. rate on a 30-year mortgage falls for...
Do you know the difference between 550 and 780? Yes, they’re 230 digits apart, but they’re also examples of bad and good credit scores, respectively. If you don’t check yours regularly, now’s the time to start. Small mistakes are a lot more common than you think, and they can do some serious damage to your credit score. Full article here: Keep watchful eye on your credit score (512)...
Experts say rates will come down slightly in the year ahead – but some volatility is expected. So, you shouldn’t try to time the market. Instead, it’s better to focus on how even a small change impacts your future mortgage payment. As rates come down, even a little bit, your monthly payment on your next home will too. Want to see what this looks like at a different price point? Let’s...
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