For the week ending July 7, the 30-year fixed-rate mortgage averaged 5.3% according to data released by Freddie Mac. That is down from 5.7% the week before. Even with the 40 basis points drop, it’s still significantly higher than the 2.9% rate from this time last year. At the start of the new year, rates… [Read More]
Homeownership by Age 30 Dwindling by Generation
While generational differences are evolving and having a big impact on homeownership and insurance usage in the U.S., millennials and the youngest of Gen X are experiencing noteworthy delays in owning a home due to the Great Recession, according to a new study by TransUnion’s annual insurance summit. In addition to the delays in homeownership,… [Read More]
U.S. Housing Market Most Affordable Major Country
A new study from the Urban Reform Institute and the Frontier Centre for Public Policy finds the U.S. as the most affordable country in the world. The housing markets of Australia, Canada, Hong Kong, Ireland, Singapore, and the U.K. were also ranked. The Demographia International Housing Affordability report found that the least affordable market is… [Read More]
What to expect in 2022’s spring market
The agreement of much of the real estate industry was that the spring housing market, which happens to be the industry’s peak season, would be less frenzied this year. At least that was the thought when ushering in 2022. The consensus was that it couldn’t get much worse than spring of 2021 when over 70%… [Read More]
New Survey Suggests Real Estate Craze Was Not as Intense as Indicated
Anecdotal evidence that the late-2020-into-early-2021 real estate market was hot but new data from Zillow’s Consumer Housing Trends Report debunks a common misconception that all buyers experienced a grim reality when it came to home buying. The record-setting housing market that begin several months after the onset of the covid-19 pandemic brought reports of frustrated… [Read More]
Spring Housing Market Expected to Be Leanest and Most Competitive Ever
There were nearly half the amount of homes for sale at the end of February in comparison to a year earlier. The inventory of homes for sale in February decreased by 48.6% over the past year, a higher rate of decline compared to the 42.6% drop in January. This amounted to 496,000 fewer homes for… [Read More]