Home price appreciation increased at a steady clip in December as demand sizzled in cold-climate cities. Price gains inched up by 3.9% YOY in December, on par with November’s 3.8% and October’s 3.6%, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. The 10-City Composite increased annually by 5.1%, effectively the same from…
The Federal Home Loan Bank of Chicago has committed $46 million in funding for its 2025 Downpayment Plus grant program. The DPP program assists homebuyers earning up to 80% of the area median income by providing forgivable grants at closing when financing through a participating member. Income-eligible buyers can receive up to $10,000 in assistance….
Home price appreciation reversed a downward trend in November thanks to demand in Northeastern cities propping up national numbers. Price gains inched up by 3.8% YOY in November, increasing from a 3.6% annual rate the month prior, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. The 10-City Composite increased annually by 4.9%,…
Mortgage rates dipped back below 7% after spiking the week prior, cooling on better-than-expected inflation data. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.96%, down from the week prior’s 7.04% and breaking a five-week upward streak. A year ago at this time, the 30-year fixed-rate mortgage averaged 6.69%. Fifteen-year rates…
Home price growth is maintaining a downward trend. Price gains cooled to 3.6% YOY in October, falling from a 3.9% annual rate the month prior but still elevated, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. This was the 21st straight month of increases in the seasonally adjusted index, and the 17th…
Mortgage rates resumed their upward march last week after briefly stalling. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.84%, up from the week prior’s 6.78%. A year ago at this time, the 30-year fixed-rate mortgage averaged 7.29%. Fifteen-year rates ticked up to 6.02% from 5.99%. A year ago at this…
Home price growth cooled slightly in August, remaining high but showing signs of weakness to come. Price gains were down to 4.2% YOY in August, falling from a 4.8% annual rate the month prior but still elevated, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. Month-over-month, national prices flipped, falling at 0.1%…
Fannie Mae changed its requirements for appraisal alternatives, a way to help reduce costs for borrowers, while Freddie Mac expanded access to repurchase loans. For purchase loans for primary residences and second homes, the eligible LTV ratios for Value Acceptance will increase from 80% to 90% and Value Acceptance + Property Data will increase from…
Mortgage rates surged for a second week as the economy showed continued strength. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.32%, up from 6.12% the week prior. This is the largest one-week increase since April. Freddie Mac Chief Economist Sam Khater attributed it to the “stronger-than-expected” September jobs report. Consumer…
Mortgage rates reached a multi-year low, though they barely budged from the week prior. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.08%, down slightly from 6.09% the week prior. A year ago at this time, the 30-year fixed-rate mortgage averaged 7.31%. Fifteen-year loans saw a slight increase, however, up to…
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