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As the economy improves, mortgage rates could dip as low as the 4% range, bringing buyers back to the market. The inflation rate has been calming in recent months, contributing to falling mortgage rates through the holidays. Consumer prices are still running well above the typical 2% inflation rate, but November’s level of 7.1% was the lowest in 2022. Decelerating inflation is the key reason for the...

Younger generations are showing a desire to buy investment properties before—or even instead of—a primary residence. Younger generations are showing a desire to buy investment properties before—or even instead of—a primary residence. Mynd, a high-tech property investment and management firm, dubbed these buyers “rentvestors” in its 2022 Consumer Insights Report, based on a survey of more...

Borrowers stand to save thousands by gathering multiple quotes from lenders. As mortgage rates surge and remain volatile, it’s becoming increasingly necessary for home buyers to shop around for a loan to find savings. According to Freddie Mac, borrowers potentially could save an average of $1,500 over the life of a loan by gathering one additional rate quote from a lender. And borrowers could save...

NAR Chief Economist Lawrence Yun paints a picture of what could happen with borrowing costs once it passes a critical threshold. Mortgage rates remained just shy of 7% this week—the 30-year fixed rate loan is at 6.94%—which could be a “new normal” after recent rapid increases in borrowing costs, says Nadia Evangelou, senior economist and director of forecasting for the National Association of...

There’s some encouraging news in NAR’s latest housing report, though sales of existing home are still falling amid economic uncertainty. Home sales continued sliding in September as home buyers retreat from the market amid near-7% mortgage rates and mounting recession fears. Total existing-home sales—comprising transactions for single-family homes, townhomes, condos and co-ops—dropped 1.5% last...

The median age of a home in the U.S. is 39 years old. The aging housing stock signals a growing remodeling market ahead, according to a new report from the National Association of Home Builders. As homes age, they need repairs or updated components such as appliances. Homeowners may add amenities to older homes as well, to have them better compete against more modern home styles and amenities. The...

From volunteering at local homeless shelters to community cleanup efforts, REALTORS® turned out in large numbers during the nationwide REALTOR® Volunteer Days, and the results of their giveback efforts are rolling in. At least half of the nation’s 1,138 local and state REALTOR® associations planned volunteer projects and invited their members to join the efforts during the week-long nationwide...

Smart-home technologies may help a growing number of older adults age in place, enabling them to improve their quality of life and continue to live independently longer, research shows. “Emerging technologies like smart beds and systems that detect falls can make aging in place a safer and more viable option,” Nadia Evangelou, senior economist and director of forecasting for the National Association of...

April 22 marks Earth Day and a new mobile app is showing homeowners how to track and reduce their home maintenance costs and carbon emissions. Dwellin is touted as a free, sustainable home mobile app that can help home, apartment, condo, and townhouse owners estimate and reduce annual home maintenance costs and their carbon footprint. “EV manufacturers, governments, and businesses are all working...

High home prices and mortgage rates are serving as a wake-up call to potential home buyers this spring that their budgets just aren’t going to go as far as they would have a year ago. In the first quarter of this year, 81% percent of consumers said they could afford less than half the homes for-sale in their markets. That marks the highest share since before the pandemic, the National Association of Home...