Should Homebuyers Wait for Lower Mortgage Rates?

Today’s average rate on a 30-year home loan is just under 7%, not far from the historical average. Still, some homebuyers say they’re waiting for rates to drop.

Prices Top Location in Dream Home Purchase

A national survey showed 39% of consumers plan to move, and Florida is among the top destinations. About 13% prefer ranch-style homes.

Builder Sentiment Unchanged in April

The April NAHB/Wells Fargo HMI survey showed that 22% of builders cut home prices in April, down from 24% in March and 36% in December 2023.

What is PITI in a Mortgage Payment

Many new homeowners don’t realize the monthly payments on fixed-rate mortgages can go up and down depending on PITI – principal, interest, taxes and insurance.