How the Current Real Estate Market Can Affect Your Finances
The real estate market is in an interesting state right now. Home sales are slowing because of higher interest rates, but prices in some areas have yet to drop. Overall, the median existing home sales price in January 2023 was up 1.3% from the same time last year, but home prices in expensive areas have gone down, while prices in less expensive areas have gone up.
Hispanic Homeownership Growth Continues Eight Year Trajectory
“Latinos continue on an 8-year homeownership growth trajectory despite home price appreciation and soaring interest rates once again demonstrating a resilience that will help fuel economic growth and prosperity for an increasing number of American households,” said Gary Acosta, NAHREP Co-Founder & CEO.
Housing Market in ‘Tug of War’ as Prices Continue to Drop Across U.S.
Mortgage rates ticked up again in February after a brief respite, showing once again just how rate-sensitive the market continues to be, according to the latest Originations Market Monitor report from Black Knight.
Homeowners Look to Alternative Loans to Combat Rising Interest Rates
By mid-2022, as mortgage rates suddenly more than doubled, most housing experts predicted that the booming market would finally cool down, after two years of high demand, skyrocketing home prices, and low inventory heated up the market so much that many aspiring buyers found homes simply unaffordable.