Rates Shoot Back Above 7%, Veterans Expect Housing Search To Be “Challenging”

Mortgage interest rates tipped back over 7% last week, continuing to yo-yo back and forth from the high 6.90s, Freddie Mac reported Thursday. Freddie’s Primary Mortgage Market Survey found that the 30-year fixed-rate mortgage averaged 7.08%, up from 6.95% the week prior. A year ago at this time, the 30-year FRM averaged 2.98%. “As the housing market adjusts to rapidly tightening monetary policy, mortgage rates again surpassed 7%,” said Sam Khater, Freddie Mac’s Chief Economist.  “The housing market is the most interest-rate sensitive segment of the economy, and the impact rates have on homebuyers continues to evolve. Home sales have declined significantly and, as we approach year-end, they are not expected to improve.” Purchase loans ticked up recently after a…

Raleigh, NC, Is The Best U.S. City For Veterans

Americans agree that military families deal with more financial stress than the average family. Ahead of Veterans Day, WalletHub looked at the best places veterans can live to reduce that burden. The Midwest and South offer the best places for veterans to live well, according to WalletHub’s 2022 Best & Worst Places for Veterans to Live report. The report analyzed the 100 largest U.S. cities for key metrics related to veterans’ quality of life, including the share of military skill-related jobs, housing affordability, and proximity to VA health facilities. Raleigh, NC, took the top spot for the best place for veterans to live, followed by Austin, TX, and Laredo, TX. Madison, WI, and Tampa, FL, rounded out the top five.…