The average mortgage size for new homes rose to a record high of $408,522, a gain of 15% from a year ago, according to MBA’s Builder Application Survey.
It’s half the size of President Joe Biden’s original bill, but it still includes homebuyer assistance and a rescue of the nation’s flood insurance program.
U.S. pending home sales dipped in September as supply-chain bottlenecks kept new houses from coming on the market.
The average U.S. rate for a 30-year fixed home loan climbed for the third consecutive week as bond investors demanded higher yields, Freddie Mac said.
U.S. home prices gained 18.5% in August from a year earlier, slowing from July’s record pace of 19.2%, as rising mortgage rates crimped the ability of buyers to engage in bidding wars.
New-home sales surges in September and the median U.S. price rose to a record as house-shoppers rushed to take advantage of low mortgage rates.
The share of mortgages late by 30 days or more fell to 3.91% in September, almost half the level of a year ago, Black Knight said in a report.
Some of the housing provisions of the Build Back Better bill that seemed destined for the chopping block are now back in play, including some form of down payment assistance.
About 1.24 million mortgage holders remain in Covid-19-related forbearance plans, the lowest since the beginning of the pandemic, Black Knight said in a report on Friday.
The median existing home price in September was $352,800, an increase of 13% from a year earlier, and prices rose in every region, NAR 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?
