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Current news on the housing market, including articles on home trends, home buying, home selling, and homeowner advice.
If you’re reading this article, you are more than likely purchasing your first home or are at least interested in taking the first steps towards that goal. That’s something to be proud of!
Mortgage rates fell for the second straight week last week, and that helped boost refinance demand for the first time in a while.
The average interest rate on a 30-year fixed-rate mortgage decreased to 3.336% today. It’s the second day in a row the 30-year rate has declined after last week’s surge.
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.
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.