Housing Market

Affordability

Mapping FHA Loans Shows Where Cities Need More Housing

In the hottest job markets, federal loan programs aren’t helping people land homes in the areas that are closest to the best jobs. Federal Housing Authority (FHA) borrowers are often working-class first-time homebuyers. In hot job markets, the supply of affordable homes close to work is so limited that FHA homebuyers chase affordability into neighborhoods […]

The Redfin Housing Demand Index Reached a New High in December

The Redfin Housing Demand Index, based on thousands of Redfin customers requesting home tours and writing offers, increased 15.1 percent from last month to a seasonally adjusted level of 124 in December. This marks the highest level recorded since January 2013, the first month measured by the Redfin Demand Index.   A level of 100 […]

Mortgage Rates Are Back Down: Why They’ll Stay Low

Mortgage rates were down this week, averaging 4.09 percent for a 30-year, fixed-rate loan, down from 4.12 percent last week. Last year at this time, the rate was 3.81 percent, according to Freddie Mac. What’s going on? Immediately after Donald Trump’s unexpected victory in the presidential election, mortgage rates jumped, with the 30-year fixed climbing […]
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