US is not prepared to house a growing number of older Americans
A recent report shows that unhoused populations above the age of 55 are on the rise around the country.LEARN MORE
The Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac, revealed on Thursday that the average rate in the last week was 6.95%.
The average interest rate for a 30-year mortgage continues to fall.
The Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac, revealed on Thursday that the average rate in the last week was 6.95%. That's down from 7.03% in the week prior.
This was the first time since August that the average weekly mortgage rate sat below 7%.
The downward trend is leading to an optimistic outlook in the housing market for 2024.
“Given inflation continues to decelerate and the Federal Reserve Board’s current expectations that they will lower the federal funds target rate next year, we likely will see a gradual thawing of the housing market in the new year," said Freddie Mac Chief Economist Sam Khater.
The National Realtors Association is predicting 4.71 million existing home sales in 2024. That would be a 13.5% increase from 2023.
"The demand for housing will recover from falling mortgage rates and rising income," Lawrence Yun, chief economist for the National Realtors Association said. "In addition, housing inventory is expected to rise by around 30% as more sellers begin to list after delaying selling over the past two years."
The National Realtors Association identified real estate markets with the most pent-up housing demand. Markets like Austin and Dallas-Fort Worth-Arlington in Texas, and Dayton, Ohio are expected to outperform other metro areas in 2024.
A recently released report shows rent has dipped across the country, but the housing market is still tough.
Mortgage rates are falling, but potential buyers are still struggling to find homes they can afford.
The New York City Housing Authority is the largest public housing authority in the U.S., housing 1 in 17 New Yorkers across 335 city developments.
Passengers will experience a rare total solar eclipse from the skies, which will sweep through about a 100-mile-wide swath of the U.S. on April 8.
The death of 22-year-old Laken Riley is fueling the debate over U.S. immigration policy after an undocumented immigrant was charged with her murder.
Negotiators have been working to broker a cease-fire deal that would free Israeli hostages from Gaza in exchange for Palestinian prisoners.