Mid-Year Housing Market Update + Mortgage Rate Forecast
We’re almost halfway through 2024, and the housing market is at a standstill. Mortgage rates are high, inventory is low, buyers have fewer choices, and many homeowners refuse to put…
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The mortgage rate lock-in didn’t start in 2022
Mortgage rate lock-in happens because even small changes in mortgage rates can make a big difference in costs. For example, for a home priced at $390,000 — the median price…
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Pending Home Sales Fell In April But Expected Rate Cuts Offer Some Hope
Contract signings fell 7.7 percent between March and April to a score of 72.3 on the Pending Home Sales Index last month, according to data released Thursday by the National…
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2024 inventory growth challenges mortgage rate lockdown
The mortgage rate lockdown premise holds that very few people will list their homes when mortgage rates are this high, thus suppressing inventory. But 2024 has proven that theory wrong. 2024…
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One year after expansion, Guaranteed Rate remains bullish on reverse mortgages
Increased adoption When asked about how reverse mortgage business is going in the first half of the year, Ogata said that he’s happy with the division’s performance and its ability…
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Expect the growth rate of existing home prices to cool down this year
From NAR: The median existing home price for all housing types in April was $407,600, an increase of 5.7% from the previous year ($385,800). All four U.S. regions registered price…
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I Sold a Property With a 3% Mortgage Rate Instead of Renting It—Here’s Why I’m Not Crazy
In This Article A few months ago, I had to decide whether to sell my primary residence or turn it into a rental. At this point, I didn’t have…
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How a 3% Interest Rate Cost Me Over $180,000 (Avoid My Mistake)
“Subject to” real estate has been exploding in popularity. When mortgage rates began to rise, subject to (often called sub to) came in as the hero to save the day….
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The mortgage rate lock-in didn’t start in 2022
FHFA, in its March 2024 research paper, The Lock-In Effect of Rising Mortgage Rates, quantified the degree to which rising mortgage rates slowed housing purchases in 2023. Researchers developed a…
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Zillow Now Showing Homebuyers How Rate Changes Affect Their Options
Powered by mortgage rates from Zillow Home Loans, BuyAbility tool could help listing portal’s lending affiliate get a head start on other lenders it competes with for borrowers. At Inman Connect…
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