#mortgage-rates

#mortgage-rates

Home prices remain high due to builders offering mortgage buydowns, keeping the cost of homes elevated despite lower actual price potential without these incentives.

While private sector employment made a lackluster gain of 74,000, government job creation, especially in education, significantly inflated the total to 147,000, showcasing a profound irony.

The new Dashboard is a tool that enables NAR members to stay ahead of the market and better serve their clients, equipping them with insights into shifts in affordability, demand, and the economy.

Mortgage rates are now at their lowest level in over two years, which is obviously good news for prospective first-time buyers and those looking to switch their mortgage over the coming months.

After the April 2 announcement of a new global tariff regime, markets across the board dropped and rates jumped to 7%. Mortgage rates began to drop after Trump paused the tariffs.

Mortgage rates have reached 7% following President Trump's tariff announcement, but have since fallen to 6.91%, impacting reverse mortgage activity.

Just last week, mortgage rates improved by 0.25% due to the weakest private-sector jobs report in over a year, indicating a nuanced economic reality.

Owning a home is one of the costliest investments, so shopping around for the right mortgage can mean the difference between saving money over the course of a loan or spending more than you need.