This week's increase in U.S. mortgage rates has added to the skepticism about any significant reductions in interest rates for prospective homebuyers in the near future.
Based on CoreLogic's latest Home Price Index January 2024, year-over-year home price gains reached the highest rate in a year in January, but growth is expected to begin slowing in the coming months, falling to 2.6% by early 2025.
Based on new data from Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 6.94 percent.
Based on new data from Zillow, U.S. home shoppers today need to make more than $106,000 to comfortably afford a median-priced home in America.