Time to Renovate the Mortgage Interest Deduction

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The lack of affordable housing in America’s fast growing cities is reaching epic proportions as more and more families are being priced out of homeownership .  In 2012, a middle class family could afford 44 percent of the homes for sale. By 2016, the share of affordable listings declined 12 percentage points to just 32 percent. This housing equality gap … Read More

Mortgage Rates: They May Go Up in 2017

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Mortgage rates were up this week, averaging 3.52 percent for a 30-year, fixed-rate loan, up from 3.47 percent last week. This is the first time in four months the rate has been above 3.50 percent. Last year at this time, rates were 3.70 percent, according to Freddie Mac . A consensus is growing on what may happen in the near … Read More

Mortgage Rates: Housing is Getting Stronger, But Rates Will Stay Low

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Mortgage rates inched down this week, averaging 3.48 percent for a 30-year, fixed-rate loan, dropping from 3.50 percent last week. Last year at this time, rates were 3.86 percent, according to Freddie Mac .   Yesterday, in a much-anticipated meeting, the Federal Open Market Committee (FOMC) decided to keep the Federal funds rate unchanged in a contested vote, with three of ten members … Read More

Mortgage Rates: Homebuyers Might Not Need to Depend on Cheap Borrowing Anymore

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Mortgage rates rose this week, averaging 3.50 percent for a 30-year, fixed-rate loan, up from 3.44 percent last week. Last year at this time, rates were 3.91, according to Freddie Mac . But the real news for homeowners and homebuyers came on Tuesday, when the Census Bureau released its annual report on Income and Poverty in the United States . In an unambiguously positive turn, the … Read More

Mortgage Rates: Does the Federal Reserve Drama Really Matter?

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Mortgage rates inched up this week, averaging 3.46 percent for a 30-year, fixed-rate loan, up from 3.43 percent last week. Last year at this time, rates were 3.89 percent, according to Freddie Mac . While mortgage rates are very likely to stay low in the near and medium term, there was some drama with the Federal Reserve last week.   … Read More

Working-Class Homeownership: Still Possible in Many Big U.S. Cities

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Homebuyers in cities across the U.S. are saying affordability is their biggest concern as home prices rise and inventory shrinks. But there is some good news for working-class homebuyers. Across 40 large U.S. cities, 55 percent of homes for sale last month were affordable for a working-class household and still between two and four bedrooms in size. Homes of this … Read More

Mortgage Rates: Good News (For Buyers With Good Credit)

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Mortgage rates dipped this week, averaging 3.43 percent for a 30-year, fixed-rate loan, down from 3.45 percent. At this time last year, rates averaged 3.93 percent, according to Freddie Mac . Source: Freddie Mac Rates have held below 4 percent for 33 weeks, the second-longest run of cheap borrowing the U.S. has ever had. The record was set from March 2012 … Read More

Mortgage Rates: No Tantrums Here, Just Cheap Loans

Build RealtyMarket News

Good economic news pushed mortgage rates up last week, with a 30-year fixed loan averaging 3.45 percent. A year ago, rates averaged 3.94 percent, according to Freddie Mac ’s weekly survey. Source: Freddie Mac Rates edged higher after a closely watched report on job creation came in strong, surprising economists and markets. The upbeat employment news has more people betting the … Read More