The premium Americans are paying for a mortgage versus rent hasn't been this big since the housing bubble peaked 17 years ago
The difference between monthly mortgage payments and rents hasn't been this big since 2006, around the peak of the housing bubble that led to the Great Financial Crisis.
Limited housing inventory in the US has kept prices elevated, and the Fed's aggressive interest rate hiking campaign over the last year has made mortgage payments more costly. On Thursday, mortgage giant Freddie Mac reported that mortgage rates fell for a second consecutive week, offering some relief in affordability. The average for a 30-year, fixed rate loan was 6.42%, down from 6.6% the week prior to mark the largest one-week decline since January.
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Spring home buying season shows 'steady demand' as mortgage rates slip for second weekDemand for home buying has been 'steady' as mortgage rates continue to slip. Mortgage rates fell for the second week to 6.42%, according to Freddie Mac, after the Federal Reserve said it would modestly hike rates.
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Mortgage rates fall for second weekIt was the biggest one-week decline since mid-January.
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Homebuyers who want a low rate can assume the sellers’ FHA mortgageWith an eye on low-to-moderate income borrowers, this is one financing tool to capture once-in-a-lifetime low rates.
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Mortgage rates dip amid economic uncertaintyThe 30-year mortgage rate is averaging 6.42%, Freddie Mac said in its latest weekly survey, released Thursday.
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