Mortgage rates eased slightly after a weak jobs report, but inventory of single-family homes is increasing, likely to exceed 2020 levels this summer. [ more ]
Mortgage Rates Just Hit a Nearly 8-Month Low: Should Homebuyers Shop Now Rather Than Wait Until Spring?
Mortgage rates for a 30-year fixed-rate home loan have reached their lowest level since last spring, which is encouraging for the housing market and first-time homebuyers.
Winter might be a good time to buy a home as there is a fresh wave of new listings and an uptick in inventory due to hesitant buyers and sellers making their move ahead of the spring.
The main engine that drives the housing market is mortgage rates, and when rates drop, the market becomes more affordable and encourages buyers to re-enter the market. [ more ]
Inventory levels were already low before COVID-19 due to various factors like post-financial crisis regulations and millennial homebuying trends. [ more ]