Allowing the VA loan fees to reset as scheduled will save veterans and active-duty military members about $200 million annually, the lenders’ group said.
A homebuyer would need $48,435 of annual income to qualify for a mortgage on a $180,000 median-priced home in Detroit, making it the most affordable U.S. metro area.
The average down payment for homebuyers in Oklahoma City is a fraction of the U.S. average of $62,611, a new report shows.
“A surprising bounce back in new-home construction is welcome,” said Lawrence Yun, chief economist of the National Association of Realtors.
Home equity lending is soaring as higher interest rates caused demand for other types of home loans to soften.
Blackstone's Home Partners of America said it will stop buying single-family homes in 38 U.S. markets, another sign the real estate market is cooling.
A surge in the number of homes on the market shows buyers are calling the shots.
Higher interest rates will soften demand for real estate and provide a "reset" for home shoppers, Fed Chairman Jerome Powell said.
