Mortgage Rates Rise, 30-year Loan Reaches 5%
Freddie Mac: That’s up from 4.72% last week; it’s the first time the 30-year FRM has hit 5% in over 10 years amid persistent high inflation.
Realtor.com: ‘Close the Gap’ in Homeownership
How? By matching up to $100K to the HCA Equity Down Payment Assistance Fund, helping minorities and low- to moderate-income with down payments and closing costs.
Inflation Edges Higher, Affecting Housing
NAR Chief Economist: The Fed Reserve will be forced to raise interest rates multiple times, pushing mortgage rates up and slowing home sales, price increases.
Home Building Shifting to Rural and Small Counties
NAHB: 10.5% of all single-family homes built in 4Q 2021 were constructed in rural areas, up from 10% in 4Q 2020; for multifamily units, it was 6% vs 4.1%.
Don’t Force a Commute as Gas Prices Soar
Gas prices recently reached a 14-year high, and most workers don’t want to return to commutes to the office full time. Employers have options to explore.