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Tag Archives: Mortgage Rates

How Much Purchasing Power Have Homebuyers Lost YoY?

Mortgage rates hovering around the 7% mark are cutting into buyers’ budgets, according to a new report from Redfin. It found that a buyer on a $3,000 monthly budget can afford a home valued at $429,000, assuming a 7.4% mortgage. But how does this stack up when compared to last year?

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Examining 2023’s Hottest U.S. ZIP Codes for Housing

The Hottest ZIP Codes of 2023 report from Realtor.com showed that homebuyers are seeking areas with larger homes and closer proximities to work, with many Americans flocking to areas that are more affordable relative to the rest of the country and less expensive than their nearby metro areas.

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Many Homeowners, Renters Moved in 2019 or Later

Metros where large shares of homeowners have recently moved are more likely to experience significantly higher home price appreciation, according to a new study from LendingTree, while renters are three times more likely to relocate than those who own their homes.

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