As the seller’s market wanes, negotiations can include mortgage-rate buydowns, seller financing and repair credits. Scott Weber and his real estate agent had a focused and disciplined strategy for finding his family a good deal in the city of La Verne.All hands-on deck. Scour the market for homes matching his family’s wants and needs. Only make offers on properties sitting on the market for at least 30 days. Make low offers.Just four sho
The Federal Reserve is expected to raise its key benchmark rate this coming week. What impact could it have on mortgage rates? Mortgage rates rose slightly this week ahead of the Federal Reserve’s highly anticipated meeting next Tuesday, when it is expected to increase its benchmark rate by up to a full percentage point. What impact could that have on mortgage rates ahead?“Even though the upcoming rate hike will be more aggressive, it’s exp
Nearly every region of the country saw a major decline in real estate transactions last month as more buyers are priced out of the market, new NAR data shows. Prices for existing homes climbed to a record high in June, continuing at a breakneck pace with double-digit-percentage annual increases. The median price for an existing home rose to $416,000 last month, up 13.4% compared to a year earlier, the National Association of REALTORS® reported W
Danielle Hale on home prices, inventory and more. If you feel a bit of whiplash hearing the varying takes on the housing market right now, you’re not alone. Home prices are still rising — but not as much! Mortgage rates are generally up — but recently they’ve held below 6%! (See the lowest mortgage rates you can get now here.) There are bidding wars galore — but not everywhere! That’s why MarketWatch Picks created a series w
U.S. home purchases by international buyers are at their lowest on record, new NAR data shows. But there’s reason to believe in a comeback. Worsening housing affordability and stubborn inventory shortages are not only pushing more Americans out of the real estate market but also blocking many foreign investors from purchasing homes in the U.S., according to the National Association of REALTORS®’ newly released 2022 Profile of Internatio
Borrowing costs tick up again as the Federal Reserve’s inflation policy has economists bracing for even higher rates in the future. Mortgage rates are showing volatility as the economy slows and recession fears take center stage. The 30-year fixed-rate mortgage rose to an average of 5.51% this week, up from 5.3% last week, according to Freddie Mac.Home buyers are facing rising costs across the spectrum. Inflation shot to a new 40-year high in J
For the week ending July 8, mortgage applications to purchase a home fell 4% compared to the previous week The average size of a home purchase loan has pulled back from its record high as demand for mortgage applications fell for the second straight week. According to the Mortgage Bankers Association, the average purchase loan size fell to $415,000 for the week ending July 8, down from $460,000 hit in March. Total mo
The real estate market is starting to show signs of cracking in some of the most expensive cities in the country, and other pricey areas should brace for a rough stretch ahead.In the early part of the year, the prevailing real estate narrative suggested that housing prices would stay buoyant because of a historic shortage of available inventory even as mortgage rates surged. But for all the signs that the market was facing headwinds, few people w
State Sen. Anthony Portantino's request for the money out of the new state budget for a regional housing trust was approved. The future of an affordable housing trust fund among the cities of Pasadena, Glendale and Burbank took a step forward this week, as officials announced the approval of a $23 million infusion to get the fund off the ground.Under state Sen. Anthony J. Portantino’s proposed SB 1177, the money — carved out from the state’
With the Fed aggressively trying to manage record-high year-on-year inflation rates with a series of interest rate hikes, rising mortgage rates are impacting home affordability for many American homebuyers. Housing market activity arguably got way overheated amid the pandemic, especially in 2021, and should experience a natural slowdown. Many housing markets are showing signs of a cooling off in activity. However, in other cities, houses are
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
