First-time buyers are still living in last year’s housing market thanks to limited affordable inventory, leading to tight competition and soaring prices. A new report from Zillow found that typical home values for the least-expensive one-third of houses rose by 8% YOY, or $13,000. In comparison, mid-level homes saw a 3% YOY increase, and the…
The average mortgage rate declined for another week, giving buyers planning to finance a home this spring a little more bang for their buck. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.28%, down from 6.32% the week prior. A year ago at this time, the 30-year FRM averaged 4.27%. The 15-year…
New American Funding is launching a new initiative for first-time homebuyers. Officials at the company announced the Pathway to Homeownership program on Monday. Qualified borrowers in select areas can receive up to $8,000 in assistance to help them buy a new home. The money distributed through Pathway to Homeownership is a grant, not a loan….
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