Booming housing prices in several California cities have far outpaced rental prices, according to a new analysis by real estate brokerage Redfin. “It probably doesn’t come as a surprise that there are virtually no homes in the [San Francisco] Bay Area that are cheaper to buy than rent,” the national real estate company reported May…

Yearly home prices in the United States are set to fall next year for the first time in a decade, with residential property sales also declining, according to real estate brokerage Redfin. The median home sales price is expected to drop by 4 percent to $368,000 in 2023, which will be its first annual decline…

After data showed inflation cooled in October, mortgage rates fell sharply on Thursday by its biggest ever margin, according to data from Mortgage Daily News (MDN). The Consumer Price Index (CPI) data released on Nov. 10 showed 12-month inflation growing by 7.7 percent in October, down from 8.2 percent in September, and below market expectations…

The median price for a single-family existing-home has crossed the $400,000 mark for the first time ever, according to the National Association of Realtors (NAR). Existing single-family homes had a median price of $413,500 nationally in the second quarter of 2022, a 14.2 percent increase from a year ago, according to an Aug. 11 news…

The battle waged by the Federal Reserve to curb inflation heightens mortgage costs, making homes less affordable for first-time buyers. The average rate on the popular 30-year fixed mortgage is now close to 6 percent, which is about double what it was at the beginning of the year. Consequently, the monthly mortgage payment for a typical home in the…

The battle waged by the Federal Reserve to curb inflation heightens mortgage costs, making homes less affordable for first-time buyers. The average rate on the popular 30-year fixed mortgage is now close to 6 percent, which is about double what it was at the beginning of the year. Consequently, the monthly mortgage payment for a typical home in the…

The number of borrowers in a state of delinquency from not making their mortgage payments on time in the U.S. declined five basis points from April at 2.80 percent  to 2.75 percent in May, continuing the downward trend since March, with another new low. The national delinquency rate started to decline in March, according to the May…