Mortgage rates fell, but buying a home is still expensive! We break down the current housing market and what it means for you.
Mortgage Rates Fall, But…
Good news: Mortgage rates went down a bit! But don't celebrate too soon. Buying a house is still really expensive.
Lower Interest Rates
The average 30-year mortgage rate dropped. This is helpful for people looking to buy a home.
High Home Prices
In current days monthly mortgage rates still in higher side. This makes it hard for many people to afford a home.
More Homes on the Market
more homes are available for sale even new homes are too much expensive.
Who Can Afford a Home?
Many people can't afford even a moderately priced home. The cost of houses is very high.
What's Happening Now?
More homes are on the market, but not the affordable ones.
Homes are taking longer to sell.
Some sellers are lowering their prices.
Fewer people are buying homes.
The housing market is changing. Lower interest rates might help more people buy homes later in the year. But high prices remain a big challenge.
Source: Yahoo finance
0 Comments