Mortgage Rates Fell to 10-Month Low

Mortgage rates edged lower this week, with the average rate for a 30-year falling to 4.41%, down from 4.46%, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year fixed-rate mortgage was 4.32%. The drop follows the Federal Reserve’s announcement in late January that it…

How to Get a Better Perspective on Affordability

Headlines spotlight the fact that buying a home is less affordable today than it was at any other time in more than a decade. Those headlines are accurate. Understandably, buying a home is more expensive now than immediately following one of the worst housing crashes in American history. Over the past decade, the market was…

Is Student Loan Debt A Threat to Homeownership? No!

Over the course of the last thirty years, a shift has happened. An entire generation has been raised to believe that a college education is their key to unlocking opportunities that were not available to their parent’s or grandparent’s generations. Due to this, student loan debt has soared to $1.5 trillion and represents the largest…

Lack of Inventory Pushes ARM Share to Eight-Year High

Adjustable-rate mortgages (ARMs) represented 9.2% of all loans originated in December – an eight-year high – according to Ellie Mae’s monthly Origination Insight report. A year ago, the ARM share was around 5.6%. “With the strong demand for housing and the rapid increase in property value appreciation, more consumers are turning to ARMs in order…