Instant Reaction: Mortgage Rates, May 16, 2024

Depending on one's outlook, mortgage rates from Freddie Mac today are either a bright spot or a weak spot. Fact: the 30-year fixed mortgage interest rate averaged 7.02% over the last week. At 7.02%, a mortgage payment on a $400,000 home with 10% down is $2,400 and $2,133 with 20% down. Positive: Mor

Instant Reaction: Housing Starts, May 16, 2024

Housing starts in April bounced back slightly after a large decline in the previous month. The latest monthly gain of 5.7%, following a 17% fall in March, was led by more activity in the South region. The total annualized rate of 1.36 million is insufficient overall. The country needs around 1.6 mil

The Dual Impact of Lower Mortgage Rates on Affordability and Availability of Homes

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