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Borrowers stand to save thousands by gathering multiple quotes from lenders. As mortgage rates surge and remain volatile, it’s becoming increasingly necessary for home buyers to shop around for a loan to find savings. According to Freddie Mac, borrowers potentially could save an average of $1,500 over the life of a loan by gathering one additional rate quote from a lender. And borrowers could save even more by gathering five different quot
High inflation eases, but price pressures still intense The U.S. grew slightly through end the August, a Federal Reserve survey found, but the outlook for the economy over the next year “remained generally weak” because of rising interest rates and nagging labor and supply shortages.The regular Fed survey, known as the Beige Book, said the sharp increase in prices earlier in the year has begun to fade, but that inflation “remained elev
In June the average rate on the 30-year fixed shot over 6% briefly, and that was enough to turn the once-hot housing market on its heels. Rates pulled back in July and August, but the damage was already done. Now rates are heading past 6% yet again, causing already beleaguered mortgage demand to fall even further.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.94%
Housing sales are falling in response to rising interest rates, but the real estate market is not in a recession, according to Wharton’s Fernando Ferreira. He explains why the persistent lack of supply will continue to put pressure on homebuyers. Wharton real estate professor Fernando Ferreira doesn’t believe the U.S. housing market has entered a recession.Home sales are falling in response to rising interest rates, but th
The government’s main measures of US growth pointed in different directions in the first half of 2022, adding to the ongoing debate on the health of the economy.Inflation-adjusted gross domestic product, or the total value of all goods and services produced in the economy, decreased at a 0.6% annualized rate in the April to June period, Commerce Department data showed Thursday. That reflects an upward revision to consumer spending and compares
iPro was founded on the idea of building a better living with champion real estate services. We focus on incorporating and mastering the latest technologies and perform all types of real estate transactions. Our team of professionals set a stronger standard of business and give superior results.Click here for information on becoming a Broker-Partner.
If borrowing costs get just a little higher, the average household may be blocked from homeownership, warns an NAR economist. Mortgage rates continued inching up this week, nearing a threshold that would bring the average American household to a financial tipping point, warns Nadia Evangelou, senior economist and director of forecasting for the National Association of REALTORS®.The 30-year fixed-rate mortgage jumped to an average of 5.66%, Fredd
3 in 5 say climate risks have already impacted their decision on where to live; but housing prices and cost of living are still bigger factors. New survey data reveals that the vast majority (87 percent) of US adults believes climate change poses a risk to the world. The findings come as the effects of climate change are becoming ever more visible around the world — think recent catastrophic flooding from Australia to Kentucky&nb
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