Tag: mortgage payments

Home Mortgage Payments in Many California Cities Cost Much More Than Rent

May 24, 2023
Californiamortgage paymentsNorthern CaliforniaRegional & State NewsrentSan FranciscoSan JoseSouthern CaliforniaState NewsUS
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Booming housing prices in several California cities have far outpaced rental prices, according to a new analysis by real estate brokerage Redfin. “It probably doesn’t come as a surprise that there are virtually no homes in the [San Francisco] Bay Area that are cheaper to buy than rent,” the national real estate company reported May…

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Home Prices Will Fall for First Time in 10 Years: Real Estate Brokerage

December 8, 2022
30-year mortgageBusiness & Marketseconomymortgage applicationsmortgage paymentsmortgage ratespersonal financereal estateU.S. home pricesU.S. home salesUSUS NewsUS Real Estate
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Yearly home prices in the United States are set to fall next year for the first time in a decade, with residential property sales also declining, according to real estate brokerage Redfin. The median home sales price is expected to drop by 4 percent to $368,000 in 2023, which will be its first annual decline…

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Mortgage Rates Decline Following Signs of Easing Inflation

November 11, 2022
Business & MarketseconomyinflationMarketsmortgage applicationsmortgage demandmortgage paymentsmortgage ratesreal estateUSUS Real Estate
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After data showed inflation cooled in October, mortgage rates fell sharply on Thursday by its biggest ever margin, according to data from Mortgage Daily News (MDN). The Consumer Price Index (CPI) data released on Nov. 10 showed 12-month inflation growing by 7.7 percent in October, down from 8.2 percent in September, and below market expectations…

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Median Price of American Homes Climbs Above $400,000 for the First Time

August 12, 2022
Business & Marketseconomyexisting home saleshigh inflationhousing affordabilityMarketsmedian house pricemortgage paymentsUSUS News
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The median price for a single-family existing-home has crossed the $400,000 mark for the first time ever, according to the National Association of Realtors (NAR). Existing single-family homes had a median price of $413,500 nationally in the second quarter of 2022, a 14.2 percent increase from a year ago, according to an Aug. 11 news…

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Monthly Mortgage Payments for Typical Home Rise $800 in Last 6 Months

June 30, 2022
Business & MarketseconomyFreddie MacinflationInvestmentmortgage paymentsmortgage ratesreal estateUSUS NewsUS Real Estate
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The battle waged by the Federal Reserve to curb inflation heightens mortgage costs, making homes less affordable for first-time buyers. The average rate on the popular 30-year fixed mortgage is now close to 6 percent, which is about double what it was at the beginning of the year. Consequently, the monthly mortgage payment for a typical home in the…

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Monthly Mortgage Payments for Typical Home Rise $800 Since January

June 30, 2022
Business & MarketseconomyFreddie MacinflationInvestmentmortgage paymentsmortgage ratesreal estateUSUS NewsUS Real Estate
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The battle waged by the Federal Reserve to curb inflation heightens mortgage costs, making homes less affordable for first-time buyers. The average rate on the popular 30-year fixed mortgage is now close to 6 percent, which is about double what it was at the beginning of the year. Consequently, the monthly mortgage payment for a typical home in the…

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US Mortgage Delinquency Rates Hit A Record Low In May

June 25, 2022
Business & MarketseconomyforeclosuresinflationInvestmentMarketsmortgage paymentspersonal financereal estateUS Real Estate
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The number of borrowers in a state of delinquency from not making their mortgage payments on time in the U.S. declined five basis points from April at 2.80 percent  to 2.75 percent in May, continuing the downward trend since March, with another new low. The national delinquency rate started to decline in March, according to the May…

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