Buyers Gaining Ground as Market Shifts
Mortgage rates dipped to 6.86% as listings rose 32% year over year. With more homes for sale and stable prices, buyers are gaining leverage in markets nationwide.
Mortgage rates dipped to 6.86% as listings rose 32% year over year. With more homes for sale and stable prices, buyers are gaining leverage in markets nationwide.
Freestanding cabinets, hutches, and vintage pieces offer stylish, flexible storage at lower costs, as interest grows in “unfitted” kitchens and resale finds.
Federal Reserve officials expect inflation to rise but still anticipate two interest rate cuts by the year’s end. Interest rates impact mortgage rates.
Rates on 30-year mortgages fell to 6.81% from 6.84% last week, while 15-year mortgage rates eased to 5.96% from 5.97%, mortgage buyer Freddie Mac said.
Housing starts fell 9.8% in May, driven by a sharp drop in multifamily construction, while single-family starts were mostly flat amid ongoing market pressures.
New home purchase mortgage applications fell 4.5% year-over-year in May, with estimated sales down 12.1% from April, the MBA said.
Before you start house hunting, use tools and formulas to estimate how much house you can afford.
Simple furniture swaps, like a new chair, bench or coffee table, can refresh a home for summer guests and gatherings with no renovations needed.
New laws boost housing, end the business rent tax, strengthen property rights and improve condo transparency. Some measures still await the governor’s signature.
Builder confidence eased in June, but increased price incentives reflect efforts to make homes more affordable and attract buyers in today’s market.