Industry News

Mortgage rates fall for the first time in 3 weeks, but demand is still light

Mortgage rates fall for the first time in 3 weeks, but demand is still light

Tom Oslund

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less) decreased to 3.03% from 3.06%.

Applications for a loan to purchase a home increased 3% for the week but were 16% lower than the same week one year ago.

Applications to refinance a home loan moved just 1% higher for the week and were 3% higher than the same week one...

Housing-Market Surge Is Making the Cheapest Homes the Hottest

Housing-Market Surge Is Making the Cheapest Homes the Hottest

Tom Oslund

The red-hot U.S. housing market is giving an extra boost to the cheapest houses, including many in historically stagnant neighborhoods that have suffered from a lack of investment.

It is pushing forward efforts to revive the local economies of Detroit, Cleveland, Youngstown, Ohio, and other areas where homes can sell for as little as a few thousand dollars but typically require a lot of...

What Homes Will Be Worth in Your State by the End of 2021

What Homes Will Be Worth in Your State by the End of 2021

Tom Oslund

With so much uncertainty surrounding the housing market, many Americans may be afraid that buying or selling a house is too risky of a move to make. A recession isn’t great news for buyers, especially with the average family unable to afford a home in many parts of the country as it is. Prospective homebuyers are also concerned about their ability to make mortgage payments. But with all of...

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