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The mortgage rate decline it would take to make an average home affordable is ‘unrealistic,’ Zillow says
Since the pandemic, U.S. mortgage rates have risen dramatically. This surge, combined with historically high home prices, has tanked housing affordability, with first-time homebuyer rates falling to half the historical average. Even a substantial drop in mortgage rates would not restore housing affordability for most Americans.
Mortgage Rates Hit 4-Month Low After Sharp 2-Day Decline
Rates on new 30-year loans have fallen two days in a row, pushing the average to its lowest level since early April. Rates have moved lower for other loan types as well.
Mortgage rates hit 10-month low
The average 30-year fixed mortgage is now 6.58%, falling after last Friday's weak jobs report increased the likelihood the Fed will cut interest rates next month.
Mortgage rates plunge to 10-month low, opening window of opportunity for house hunters
Mortgage rates are plunging as the financial markets try to make sense of the poor July jobs report. The average rate on a 30-year mortgage fell to a 10-month low of 6.57% on Monday, down from 6.74% on July 28,
Here's How Much Mortgage Rates Have to Drop to Make Housing Affordable
Key Takeaways A Zillow study showed that mortgage rates in many major U.S. cities would have to drop well below current levels of around 6.7% to make housing affordable.Mortgage rates need to fall by two percentage points in places like Dallas,
LAist on MSN8d

Home sales are down. So why are prices at an all-time high?

Those with equity in a home can trade up more easily, while many first-time homebuyers are still stuck on the sidelines.
Daily Camera1mon

Why first-time buyers are leaving city life - Boulder Daily Camera

For many first-time homebuyers, the dream of homeownership can feel out of reach. This lack of affordability is prompting would-be homebuyers to leave city living and drive to the exurbs — areas ...
National Mortgage Professional9d

More Buyers Taking a Time-Out

More and more would-be homebuyers are hitting the pause button, with those who do pull the trigger more likely to be buying ...
KOB 42mon

Average rate on a 30-year mortgage in the US falls to 6.85% ... - KOB.com

The average rate on a 30-year mortgage in the U.S. fell this week for the first time in a month, but borrowing costs for homebuyers remain elevated. The long-term rate dipped to 6.85% from 6.89% ...

More tough news for buyers. Home prices jumped to all-time highs in June.

It's a tough time for homebuyers in the US. Unfortunately it got a bit tougher in June, as prices jumped to fresh all-time ...

Homebuyers Can Save $200K by Building a New Home Instead of Buying an Existing One in This State

In several states, new-construction homes are emerging as the more affordable option compared with existing homes.
The Canadian Press on MSN11d

Seniors rarely downsize. Here’s why it hurts first-time homebuyers

Experts say it's a myth that seniors who own their homes are keen to downsize to fund their retirements, when the reality is ...
Newsday2mon

Average rate on a 30-year mortgage in the US falls to 6.85% ... - Newsday

WASHINGTON — The average rate on a 30-year mortgage in the U.S. fell this week for the first time in a month, but borrowing costs for homebuyers remain elevated. The long-term rate dipped to 6. ...