Affordability

A recent survey from Bank of America asked would-be homebuyers what would help them feel better about making a move, and it’s no surprise the answers have a clear theme. They want affordability to improve, specifically prices and rates (see below): Here’s the good news. While the broader economy may still feel uncertain, there are signs the housing market is showing some changes in both...

For the past couple of years, it’s been tough for a lot of homebuyers to make the numbers work. Home prices shot up. Mortgage rates too. And a number of people hit pause because it just didn’t feel possible. Maybe you were one of them. But there’s some encouraging news. If you’ve been waiting for a better time to jump back in, affordability may finally be showing signs of improvement...

The Federal Reserve (the Fed) meets this week, and expectations are high that they’ll cut the Federal Funds Rate. But does that mean mortgage rates will drop? Let’s clear up the confusion. The Fed Doesn’t Directly Set Mortgage Rates Right now, all eyes are on the Fed. Most economists expect they'll cut the Federal Funds Rate at their mid-September meeting to try to head off a...

You’ve been waiting for what feels like forever for mortgage rates to finally budge. And last week, they did – in a big way. On Friday, September 5th, the average 30-year fixed mortgage rate fell to the lowest level since October 2024. It was the biggest one-day decline in over a year. What Sparked the Drop? According to Mortgage News Daily, this was a...

Not every homebuyer wants the biggest house on the block. Some want something simpler, more affordable, and easier to maintain, especially in a market where every dollar counts. That’s where condos come in. For first-time buyers, they can be a smart way to get into homeownership without stretching your budget. For downsizers, they offer less space to maintain with the flexibility to stay in a...

Over the past few weeks, mortgage rates hit their lowest point of the year – and it was big news. So, what you need to know if you’re buying a home is, whenever these shifts happen (whether they’re now or later), even a small change in rates can make a big difference in your monthly payment. While major drops in mortgage rates aren’t projected for the rest of 2025, smaller declines are still...