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Mortgage Rates Highest Since October 2019

Pro Builder

Mortgage Rates Highest Since October 2019. Following strong employment in January, the most prevalent 30-year fixed mortgage rate is steadily rising toward 4.0%, the highest since October 2019, Bill McBride reports in the CalculatedRisk Newsletter. Housing Policy + Finance. Housing Policy + Finance.

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How Down Payment Loans Affect the Housing Market

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How Down Payment Loans Affect the Housing Market. As financial standards for loans are getting tighter, potential homebuyers are losing out to all-cash offers or higher down payments from other buyers in an ultracompetitive housing market. In August 2019, 30% of mortgage loans were backed by the FHA, VA, or USDA, according to NAR data.

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A Quarter of American Homeowners Are Considered ‘House Poor'

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are considered “house poor,” meaning they spend more than 30% of their income on housing costs. are considered “house poor,” meaning they spend more than 30% of their income on housing costs. From 2015 to 2019, the percentage of U.S. percent in 2019. From 2015 to 2019, the percentage of U.S.

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NAHB and HUD Showcase Housing Innovations

Pro Builder

NAHB and HUD Showcase Housing Innovations. NAHB Policy Briefing | NAHB partners with HUD on Innovative Housing Showcase seeking solutions for housing affordability and resiliency; data show number of active homebuyers drops. Home Affordability Report Shows Increased Pressure for Affordable Housing.

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The Housing Market Is Hitting a Turning Point, but Where Will It Go From Here?

Pro Builder

The Housing Market Is Hitting a Turning Point, but Where Will It Go From Here? The number of new listings rose 8% in May, the first gain since June 2019, though inventory remains at a historic low nationwide, Realtor.com reports. Combined with rising mortgage rates (now over 5%), the cost of financing a home is up 50% over a year ago.

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Moody's Analytics: 210 Regional Housing Markets Were Overvalued by More Than 25% in the 2nd Quarter of 2022

Pro Builder

Moody's Analytics: 210 Regional Housing Markets Were Overvalued by More Than 25% in the 2nd Quarter of 2022. A housing correction looms, with some markets seeing housing activity slowing and home prices falling. Since earlier this year, housing analysts have been going back and forth about the stability of the housing market.

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Critics Question ‘Housing First’ Approach as Homelessness Crisis Worsens

Pro Builder

Critics Question ‘Housing First’ Approach as Homelessness Crisis Worsens. Nearly 600,000 Americans were left without housing in 2020 as a result of surging costs and a rise in unemployment during the COVID-19 pandemic, CNBC reports. In 2019, New York City spent a record-breaking $3 billion to support its homeless population.