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Young people can face a lot of challenges when it comes to buying their first home – and that list may be growing. A house can seem far-fetched for someone struggling with student loans, rising rental costs and growing child-care expenses. But recent data from the real estate website Trulia found that people buying starter homes, or those in the bottom third of home values for their market, can also have a harder time closing on their mortgages or finding a home they can afford.
After nine straight weeks of increases, long-term US mortgage rates fell this week.
Economists predict mortgage rates will continue to climb this year – just one of the trends that suggest 2017 could be a more challenging year for homebuyers. While mortgage rates remain low by historical standards, they’ve risen sharply over the past couple of months, pushing the average rate on a 30-year, fixed-rate mortgage to 4.32 percent this week. That’s the highest level since April 2014 and well above the year’s average of 3.65 percent.
Contracts to purchase previously owned U.S. homes unexpectedly decreased in November on a sudden pickup in mortgage rates and limited inventory, according to figures released Wednesday from the National Association of Realtors in Washington.
Long-term US mortgage rates climbed again this week, hitting the highest levels since 2014.
Maybe this time higher interest rates actually mean higher interest rates. A year ago, the Federal Reserve lifted the key U.S. interest rate for the first time in more than nine years. Counterintuitively, mortgage rates then fell, and homebuyers had one more chance to refinance at historically low rates.
Long-term U.S. mortgage rates climbed for the sixth straight week in the aftermath of Donald Trump’s election win, marking new highs for the year.
Mortgage rates sustained their upward march this week without any indication that their trajectory will slow anytime soon.
Purchases of new U.S. homes declined in October to a four-month low, showing the residential real estate market began to soften a month prior to a jump in borrowing costs.
Americans bought homes in October at the fastest pace in nearly decade, helped out by low mortgage rates that have since started to climb following the presidential election of Donald Trump.
Long-term U.S. mortgage rates climbed this week, reflecting deep declines in U.S. government bond prices in the days after Donald Trump’s election victory.
Long-term U.S. mortgage rates rose this week for a second straight week.
Mortgage rates climbed to their highest point in four months this week, rising to pre-Brexit levels.
Long-term U.S. mortgage rates rose this week, with the benchmark 30-year loan reaching its highest level since June. Rates remain at historically low levels, however.
Long-term U.S. mortgage rates rose this week amid expectations in financial markets that an increase in interest rates by the Federal Reserve may be on the horizon. Mortgage rates remain at historically low levels, however.
More Americans signed contracts to purchase homes in July, a sign that demand for home ownership remains strong despite a shortage of listings on the market.
Long-term U.S. mortgage rates didn’t budge this week, remaining at historically low levels that continue to lure prospective home buyers.
g-term U.S. mortgage rates declined this week after rising for three straight weeks, continuing to lure prospective homebuyers.
Long-term U.S. mortgage rates edged higher this week for a second straight week. They still are near historically low levels to encourage potential homebuyers.
The last time Mark McCollam refinanced the loan on his three-bedroom house in Los Angeles, he figured mortgage rates would only head higher from there. He was wrong. Not that he’s complaining. The aerospace engineer recently refinanced again, lowering his mortgage rate by 1 percentage point to 3.5 percent. That’s about $300 a month he plans to put toward school and other costs for his two young kids, and into savings.