Appraisal Buzz
APRIL 22, 2022
Rapidly rising mortgage rates are worsening affordability challenges that have been brought on by record home value growth. According to the March Zillow Real Estate Market Report, monthly mortgage payments on the typical U.S. home are 19.5% higher than they were three months ago, and 38% higher than a year ago.
Housing Wire
JUNE 4, 2024
Shopping around for a mortgage could prove beneficial for borrowers looking to save money, particularly in a high interest rate environment, according to a new report from LendingTree. While savings would be much lower in states with lower home values, shopping around could still prove beneficial for borrowers.
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Housing Wire
FEBRUARY 23, 2024
The gap between Black and white renter families that could afford a mortgage narrowed significantly during the COVID-19 pandemic, according to a Zillow report released Friday. of Black renter families earned enough income in 2022 to afford a mortgage with a 3% down payment, compared to 12.5% About 7.8% percentage points. About 13.3%
Housing Wire
FEBRUARY 21, 2024
Mortgage demand continued its downward trajectory last week as interest rates moved back above 7%. Mortgage applications decreased by 10.6% 16, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey. The 30-year fixed-rate mortgage averaged 6.77% as of Feb. And the U.S.
Housing Wire
APRIL 4, 2024
In the March rate update , we discussed why Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs) utilize two interest rates. The “ expected rate ” is unique to reverse mortgages and is calculated by adding the lender’s margin to the weekly average 10-year constant maturity treasury (CMT).
Inman
JULY 12, 2023
The typical home value breached $350,000 for the first time in June, a new peak in typical values according to a report by Zillow. Redfin shows nearly 92 percent of homeowners have a mortgage rate below 6 percent.
Appraisal Buzz
DECEMBER 22, 2021
The value of U.S. homes surged 31.4% Home prices have skyrocketed during the pandemic as record-low mortgage. The post Home Values Increase $9 Trillion Over the Past Year for U.S. year over year to a total of $38.3 trillion last month, far outpacing the 9.7% ($2.6
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