The US housing market is affected by rising mortgage rates, currently at 6.89%. Experts predict a gradual decline but rates above 6.5% for 2024. Different forecasts suggest rates around 7% or potentially dropping to 6.5%. Factors like inflation, economic growth, and global events will influence future rate cuts and mortgage rate movements. Staying informed about … Continued
The housing market saw a surge due to the pandemic and low mortgage rates, but now faces challenges with rising interest rates and inflation. Bank of America economists predict a slow market until 2026 due to factors like the "lock-in effect" and affordability issues. Home prices are expected to rise slowly, with a potential dip … Continued
The Federal Reserve is considering cutting interest rates due to slowing inflation. The Fed's actions impact borrowing rates, affecting economic activity. Despite strong GDP growth and low inflation risk, the Fed may cut rates in July. Data shows a healthy economy with low delinquency rates and rising wages. Economists suggest a modest rate cut to … Continued
High inflation puts a strain on household budgets, so the Fed uses rate hikes to slow down spending and cool the economy.Recent data suggests inflation might be easing, prompting the Fed to consider lowering rates later in 2024.
Analysts predict rate cuts, potentially down to 1.75%-2% by end of 2026. Expected economic conditions in 2024: Cooling inflation and slight increase in unemployment.
New-home sales ↓ 4.7% MoM, and ↓ 7.7% yearly in April, reaching a seasonally adjusted annual rate of 634K units. The inventory of new homes ↑ 12.1% yearly, with 480K new homes available for sale by the end of April.
AI platforms are increasingly being used to connect potential buyers with off-market property listings.AI predicts potential home sales by analyzing detailed data on homeowner habits and property characteristics.
You can skip the wait time required to save for a down payment and become a homeowner sooner. You'll face higher monthly payments and interest rates due to the lack of a down payment.
Assumable mortgages require down payments as low as 15%. A new feature offers purchasing homes with a 2% mortgage rate.