Borrowing costs are not the most pressing issue for home shoppers.After recent increases, the mortgage rate for the 30-year fixed loan pulled back this week, giving home shoppers a slight reprieve on borrowing costs. Still, rates remain above 6.5% for the third consecutive week: The 30-year fixed-rate mortgage averaged 6.71% this week, Freddie Mac reports. “While elevated rates and other affordability challenges remain, inventory continues to b
The housing market is short more than 300,000 homes in price points middle-income buyers can afford, shows research from NAR and realtor.com®.The national housing shortage is most acute in price points that middle-income buyers can afford, according to new National Association of REALTORS® data. The market is short about 320,000 listings worth up to $256,000—which is considered the affordability range for households earning up to $75,000 annu
Dive Brief: Over 14,500 new single-family rental homes were constructed across the country in 2022. This marks an all-time high, up 47% from 2021 and more than double the peak yearly construction rate before the COVID-19 pandemic, according to a new study from RentCafe.The trend shows no sign of slowing. Nearly 44,700 new build-to-rent homes — defined in the study as horizontal apartment-style units in neighborhoods of 50 or more — are u
Friday's strong jobs report renews worries that the Federal Reserve is not done hiking rates to combat inflation as policymakers face June 14 decision to 'hike, skip or pause'Mortgage rates retreated from 2023 highs this week as a last-minute debt ceiling deal averted a crisis, but could quickly rebound on a strong jobs report Friday that’s renewed worries about inflation.The Optimal Blue Mortgage Market Indices show that rates on 30-
Nearly 5.5 million more households are priced out of the housing market today than a year ago, NAR data shows.The 30-year fixed-rate mortgage rose again this week, averaging 6.79% and forcing more home buyers to recalculate their budget. Mortgage applications for home purchases are falling—down 31% year over year, according to the Mortgage Bankers Association. But economists say mortgage rates are likely to drop in upcoming weeks, which could h
Decorating and designing with glass ranges from introducing weight-bearing structures to simple but cleverly placed mirrors. All will work to make a house lighter Making a house lighter can be as simple as bringing more mirrors or glazed panels into your home, or as complicated as replacing sections of roofing with glazing.Here, we explore the best ways to get more light into a house to brighten rooms; some are quick and easy to choose, others me
For bond market investors who provide the funding for most U.S. mortgages, the debt ceiling crisis won't be over until Congress actually votes to approve the deal negotiated over the weekend Worries that the U.S. may default on its debt could keep mortgage rates climbing this week even after negotiators reached a deal over the weekend to raise the debt ceiling.For bond market investors who provide the funding for most U.S. mortgages, th
US home prices rose 0.7% in March, notching a second-straight month of upticks while suggesting declines that began in 2022 may be winding down, according to data from CoreLogic and the FHFA U.S. home prices rose 0.7 percent in March from a year earlier, notching a second-consecutive month of annual increases while signaling a possible end to a year of price stagnation, according to data released Tuesday from CoreLogic.Despite the razor-thin
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Minimaluxe kitchens blend together the simplicity of minimalism with the warmth of a modern rustic style, creating a look that feels wonderful - and luxe - to live in Minimalism is never going out of style. It's been around in some form or another for decades and is loved by designers the world over. However, what tends to happen with such longstanding trends, is every now and then they shift slightly, a 'new' version of the trend starts to come
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