U.S. Homeowners Gained $3.2 Trillion in Equity, CoreLogic Says
Homeowners with mortgages gained an average of $55,300 in equity, CoreLogic said in a report on Thursday.
March 10, 2022 1 MIN
Homeowners with mortgages gained an average of $55,300 in equity, CoreLogic said in a report on Thursday.
The U.S.housing market likely could withstand a recession without a downturn in home prices, according to Jaret Seiberg, a housing policy analyst for Cowen Washington Research Group.
Employers added 678,000 workers to their payrolls in February, smashing economists' estimates and sending the unemployment rate to a two-year low.
Mortgage rates tumbled in the U.S. as the Russian invasion of Ukraine caused global investors to shift assets into dollar-denominated bonds.
House hunters are contending with a shortage of available properties, as well as rising mortgage rates, NAR says in a report.
Sales of new houses in January retreated for the first time in three months as higher mortgage rates eroded buying power.
Demand for real estate is high as consumers try to buy homes before financing costs rise further, said NAR's Yun.
Rates are rising as the bond markets lose their biggest buyer – the Federal Reserve.
Housing starts plunged by 4.1% last month as Omicron worsened shortages of labor and building supplies.
Homebuilder confidence declined in February, the second consecutive monthly drop, the National Association of Home Builders 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.
Don't wait until you find your dream house to check your credit reports for errors.
Flood insurance is separate from your standard homeowner’s insurance, and if you are buying in a flood plain, most lenders
Shelling out more upfront means you'll get a lower rate and a smaller mortgage payment, but is it the right course for everyone?
