Borrowing costs may see temporary increases in the coming weeks but are expected to stabilize. Mortgage rates jumped this week, driven up by a record number of jobs and higher-than-expected inflation, says Nadia Evangelou, senior economist and director of real estate research for the National Association of REALTORS®. The 30-year fixed-rate mortgage averaged 6.32%, up from 6.12% last week, according to Freddie Mac.While mortgage rates may see te
After falling for five straight weeks, mortgage rates jumped last week, triggering a decline in mortgage demand.Total mortgage application volume fell 7.7% last week, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.39% from 6.18%, with points rising to
Builder confidence rose 7 points in February, to 42, according to the latest NAHB Housing Market Index. It's the highest score since September and the largest 1-month increase in a decade The outlook for the housing market has improved for two-consecutive months, leaving builders cautiously optimistic as the spring homebuying season fast approaches, according to the latest Wells Fargo/National Association of Home Builders Housing Market Inde
The tech behind the video doorbell is ever evolving, so this updated list includes the best options based on what’s available today, plus a few recommendations.Since this series first compared Ring and Nest in 2020, much has changed in the video doorbell realm. The technology has improved, new models have come out and options have expanded. We’ve been able to test eight popular new video doorbells to provide you with the most up-to-date inf
Could that fixer-upper be a health nightmare? It’s a question worth asking after Christina Hall, host of HGTV’s “Flip or Flop,” went public in December about being diagnosed with mercury and lead poisoning. She blames her symptoms—skin rashes, joint pain and swollen lymph nodes, among others—on “all the gross houses” she’s fixed and flipped over the last decade for television. Hall’s announcement has put a spotlight on the hea
A slowdown is now underway, says NAR Chief Economist Lawrence Yun. But don’t expect to see dramatic price drops.After three years of runaway home prices, buyers may soon find relief. In some markets, they may have already found it.The National Association of REALTORS®’ latest quarterly housing report shows that home price growth is cooling—though that doesn’t mean prices are falling. The national median price for a single-family existing
Rates in the 6% range are helping to bring buyers back to the market in time for the spring selling season.Mortgage rates ticked up slightly this week, but they continue to remain well below their November 2022 peak, which eclipsed 7%. The 30-year fixed-rate mortgage averaged 6.12% this week, according to Freddie Mac. Lower rates in the 6% range since the beginning of the year are helping to bring costs down for potential buyers. “Interested ho
Mortgage rates continued to fall last week, and both current homeowners and potential homebuyers reacted swiftly.Total mortgage application volume, including refinances and loans to purchase a home, jumped 7.4% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) dec
You’ve heard of the open-concept kitchen. How about the open-concept bathroom? It may sound slightly scandalous, but the idea centers on creating a private, waterproof space. It includes all the elements of a luxe bathroom, according to Ferguson Bath, Kitchen & Lighting Gallery’s 2023 Trends & Influences IX(link is external) report.The report called out “wetroom bathrooms” as a hot trend for 2023. The trend has been popu
After a strong jobs report, traders are betting the Fed might raise interest rates two more times this year The U.S. labor market remains incredibly strong. Investors can’t decide if that is a good or bad thing.At first glance, Friday’s jobs report seemed to have very little for money managers to dislike. The U.S. economy added a whopping 517,000 jobs in January, while the unemployment rate fell to its lowest level si
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