Mortgage rates are ringing in the new year much lower than their near-8% peak this past fall. The 30-year fixed-rate mortgage has decreased for the past nine weeks, though breaking for a slight uptick this week to reach 6.62%, Freddie Mac reports. “The overall trajectory of mortgage interest rates in 2024 is expected to decrease,”…

The interest rate on 30-year fixed-rate mortgages in the US has been steadily declining for the past nine weeks, reaching its lowest point since May. The Federal Reserve's decision to keep interest rates steady and the expectation of further rate cuts in the coming year have contributed to this trend. The decline in mortgage rates…

Experts predict increased activity in the housing market in the first quarter of 2024 due to lower mortgage rates. Despite the usual slow start in winter, the market is expected to gain momentum as spring approaches. Buyers will face low housing supply and increased competition, but housing inventory is expected to increase starting in February.…

The USDA (United States Department of Agriculture) mortgage loan program is a government-backed home loan initiative designed to promote rural development by providing affordable financing options for eligible borrowers in rural and suburban areas. The USDA offers several types of loans, but the most common one is the USDA Rural Development Guaranteed Housing Loan Program.…

Home Sales “Will Improve in 2024” Home Sales “Will Improve in 2024”. Pending Home Sales were unchanged from October to November, though October’s figures were revised slightly higher according to the National Association of REALTORS (NAR). Sales were also 5.2% below the level reported in November of 2022. This data measures signed contracts on existing…

This follows weeks of mortgage rate declines and listings increases. Homebuying rebound? A report by Redfin, a real estate brokerage, found that US pending homes sales dropped by 4% year-over-year during n the four weeks that ended on December 24. This was the smallest decline seen since March 2022. The Redfin Homebuyer Demand Index saw…

US housing crash – how likely is it? Buyers’ activities based on fear could produce a crisis. Given the mercurial and unpredictable market, it’s almost become fashionable for people to predict a housing crash. Those taking a contrarian view have been all but ridiculed – particularly among those not understanding the intricacies of the market.…

When is the right time to buy a house? With rates dropping and even likely to drop next year, some say it’s time to act In terms of buying a home, the time to make a move is now. That’s what some in the mortgage business are saying on the heels of the Fed’s decision…

This was an increase from the data year-over-year in Florida’s housing market. Florida’s housing market saw more new listings and higher statewide sales prices in November compared to the numbers from the previous year, Florida Realtors’ latest housing data revealed. “November brought some welcome news for Florida homebuyers, as mortgage rates started to ease and…