He sold his house. Now, he is struggling to find a home he can afford
It can be hard to get a foothold in today's tough housing market — even for folks who have been homeowners before.
mortgage rates
Mortgage rates were supposed to come down. Instead, they're rising. Here's why
Mortgage rates are ticking up, even after the Federal Reserve has started cutting interest rates. Here's why, and where rates — and home sales — could go from here.
2023 was the worst year to buy a house since the 1990s. But there's hope for 2024
Realtors hope it will be easier to buy a house in 2024. It can't get much harder: last year was one of the slowest on record thanks to high mortgage rates coupled with a housing shortage.
Tough housing market is luring buyers without kids and higher incomes
A report from the National Association of Realtors shows the average home buyer this past year had a six-figure income. Others face challenges in a period of high prices and costly home loans.
Mortgage rates just hit their highest since 2002
The average cost of a 30-year fixed-rate mortgage jumped to 7.09% this week, the highest in over two decades. Rising interest rates have put homes out of reach for many would-be buyers.
Some homebuyers lose deposits of $10,000, $20,000, or more due to high mortgage rates
There's a high-stakes tug of war over new homes. Many people who signed contracts before houses were built now are scared to buy them. Builders don't want them to back out and are keeping deposits.
Buying a home gets even harder as mortgage rates top 7%
It's harder to afford homeownership than it's been in decades as a steep run-up in both prices during the pandemic and more recently interest rates hit buyers from both sides.
With mortgage rates near 7%, the housing party is over. Now it's hangover time
Higher rates are dashing the dreams of some would-be homebuyers while others stretch to buy but spend close to $1,000 a month more in monthly payments for a typical house.
Adjustable rate mortgages can be cheaper but risky. Here's what you need to know
With mortgage rates up sharply, many more homebuyers are turning to adjustable rate loans. These can be more affordable, at least at first. But they come with a big risk. Is it worth it?
The pain of rising mortgage rates when you're waiting for your home to be built
Many Americans put down deposits of $20,000 or more with builders to put up new homes. But with mortgage rates rising, some can no longer afford the homes. And they could lose their deposits.