According to the Knock Buyer-Seller Market Index released this month, the housing market appears to be moving further in the direction of favoring buyers. This as markets that cooled the fastest in response to the quickly rising interest rates and home prices continued to lessen. Meanwhile many strongholds show no sign of slowing with some… [Read More]
Mortgage Rates Down Slightly After Several Weeks of Rising
The week ending on October 5th saw the 30-year fixed-rate mortgage averaging 6.66%, down from 6.70% the week before. This is according to Freddie Mac. Since the start of 2022, mortgage rates have more than doubled as the Federal Reserve continues its unprecedented hiking of interest rates to try and tame the rise of inflation…. [Read More]
Home Prices Fell in July for the First Time in 3 Years
For the first time in nearly three years, home prices declined 0.77% from June to July according to Black Knight’s Home Price Index. Black Knight is a mortgage software, data and analytics firm. While the drop may be small at less than 1%, it is the largest single-month decline in prices since the beginning of… [Read More]
The U.S. Housing Market Appears to be Cooling Off
Many sellers are hesitant to lower their prices, but buyers have more options now that houses are sitting on the market longer. After a meteoric rise in home prices emboldened sellers over the past couple of years, there are now signs that the U.S. housing market may be cooling off. In hot markets like San… [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]
Could Baby Boomer Mortality Rates Change The Housing Market?
Before the pandemic, Baby Boomers – those typically classified as people born between 1946 and 1964 – represented 41% of U.S. homeowners. This is according to a special report conducted by the Mortgage Bankers Association’s Research Institute for Housing America. As older Americans age out of their homes to move to assisted living facilities or… [Read More]