Starter homes are at a 50-year low. In 2020, only 65,000 entry-level homes were built, despite 2.38 million first-time homebuyers buying that year.
"US stocks are stabilizing as investors are clearly in wait-and-see mode over the current wave of inflationary pressures," an analyst said.
Following the ruling, The New York Times reported that President Joe Biden plans to replace FHFA director Mark Calabria.
The decline is good news for homebuyers. Supply shortages lifted sales prices to record highs in March and construction is just starting to catch up.
The supply crunch increased 52% from 2018 through 2020, according to data from Freddie Mac, which says first-time buyers are getting the hardest hit.
As expectations for stronger inflation have lifted Treasury yields, the mortgage market has been impacted with rates going back above 3% and climbing.
The average 30-year fixed mortgage rate fell to 2.67% from 2.71% this week, marking the fifteenth record low of 2020, according to Freddie Mac. The historically low borrowing costs continue to fuel a housing-market surge and establish the sector as one of the few bright spots in the ailing US […]
The average US 30-year fixed mortgage rate dipped to 2.71% from 2.72%, Freddie Mac said Thursday. The new level marks the rate’s 14th record low of the year. Near-zero interest rates have pushed borrowing costs to historically low levels and fuelled a buying spree in the nation’s housing market. Limited […]
The average US 30-year fixed mortgage rate fell to 2.78% from 2.8%, marking the 12th record low this year. Rates are no is the lowest in Freddie Mac data going back nearly 50 years. Inexpensive loans have fuelled a powerful housing rally during the coronavirus pandemic. “Despite the uncertainty that […]
The average US 30-year fixed mortgage rate fell to 2.81% from 2.87%, its lowest in Freddie Mac data going back nearly 50 years. The reading also marks the 10th record low this year, reflecting the tumbling borrowing costs that fuelled the housing market’s rebound. Sales of new and existing homes […]
The US 30-year fixed mortgage rate fell to 2.86% from 2.93%, its lowest level in Freddie Mac data going back nearly 50 years. The rate has hit record lows nine times in 2020, fuelling the housing market’s rally throughout the coronavirus pandemic. Though the housing market’s strength persisted through the […]
The rate on the popular 30-year fixed rate mortgage fell to another record low of 3.13%, according to Freddie Mac data released Thursday. It’s the fourth time the US mortgage rate has slipped to a record low since the coronavirus pandemic began to roil global markets in March. The falling […]
During the coronavirus pandemic, many lenders are offering either mortgage forbearance or deferment, which are both types of relief that allow you to pause or reduce monthly payments. Interest always accrues while payments are in forbearance, and interest sometimes keeps building with deferment. Forbearance typically requires you to repay the […]
Asking your lender about the mortgage deferral process can help you understand what you’re getting into – and maybe even decide whether you want to enroll. You should ask about the basics, including the dates of your deferral period, interest rates, and late fees. Ask how deferral could impact your […]
The Federal Housing Finance Agency (FHFA) has introduced a new deferral repayment option for people with mortgages backed by Fannie Mae and Freddie Mac. If you pause mortgage payments due to the coronavirus, you can request to repay in one lump sum at the end of your loan term. You’ll […]
Fannie Mae and Freddie Mac will begin buying home loans in forbearance to ease lending stresses in the mortgage market, the Federal Housing Finance Agency announced Wednesday. The government-sponsored enterprises previously avoided the loans, but eased forbearance criteria set out in the CARES Act are set to increase requests for […]
https://www.facebook.com/plugins/video.php Private equity firms have invested billions of dollars in US mobile home communities in recent years. In these communities, residents own their homes but rent the land beneath it, leaving them little power to fight rent increases and poor maintenance. In one Florida community, residents are considering legal action […]