November 18, 2016
- Rates for home loans rose for a second straight week just before the end of the presidential election, mortgage provider Freddie Mac said Thursday. The 30-year fixed-rate mortgage averaged 3.57%, up three basis points during the week. The 15-year fixed-rate mortgage averaged 2.88%, up from 2.84% the prior week.
- Prospective homebuyers faced a challenging housing market during the third quarter, mostly due to ongoing inventory shortages that are resulting in a faster rate of home price appreciation, according to a quarterly report from the National Association of Realtors (NAR) covering the third quarter.
- More renters claim they are concerned about high utility costs than about rising rent prices, according to a new survey from Freddie Mac. The only thing rising faster than home prices may just be rent prices. Home prices are rising across the nation to levels not seen since before the housing crisis and yet, it’s still cheaper to buy than rent, according to a study by online real estate listing service Trulia.