Posts about:
People who are in the market to purchase a home are constantly on the lookout for a good bargain. There's nothing novel about it. In today's tightening real estate market, however, a genuine deal is rarer and more precious than ever.
According to Christopher Whalen, head of Whalen Global Advisors, even if Federal Reserve Chairman Jerome Powell and his colleagues stopped rising policy rates soon, the 30-year fixed mortgage rate still would increase to 10%.
Landlords around the country have increased rents to unfathomable levels, leaving renters with little good news.
South Carolina, Delaware, and Illinois had the greatest rates of foreclosure.
There were 34,501 homes in the United States with foreclosure filings (deficit notifications, scheduled auctions, or bank repossessions) in August 2022, an increase of 14% from the previous month and 118% from August 2021. This data comes from ATTOM's August 2022 U.S. Foreclosure Market Report.
The rate at which foreclosure lawsuits are being filed around the country has reached epidemic proportions.
In August, Manchester-Nashua, New Hampshire, reclaimed its position as the top housing market, marking the tenth time in the past year that this has occurred. Since March 2021, this region has occupied the number one spot in the hottest markets a total of 17 times. It wasn't until May of 2018 that Manchester finally broke into the top 20, and since the beginning of 2019 it has been a consistent top 20 city. Source: Realtor.com
Potential homebuyers who waited until this month instead of last may be regretting their decision. Inflation has pushed up the cost of buying a home by 12% in the last month alone. Mortgage payments have increased by $250 per month over the past month due to the rapid increase in mortgage rates, which Nadia Evangelou, senior economist and director of forecasting for the National Association of REALTORS®, writes about on the NAR blog.
