Far Rockaway Village in New York is the kind of housing Fannie Mae wants to invest more in: Homes that low-income people can afford in their own neighborhood.
If builders were able to double this year’s increased pace of new home production, it still would take five to six years to close the gap, according to a report from Realtor.com.
Every homebuyer is hoping to get approved for a mortgage at the current, historically low rates, but experts warn that only people who have high credit scores are likely to receive them.
U.S. home prices gained at a record pace in April as a shortage of available properties boosted competition among buyers.
The average U.S. rate for a 30-year fixed mortgage rose to 3.02% from 2.93% from last week, Freddie Mac said on Thursday.
The FHA announced updates to calculations for monthly student loan payments that will make it easier for some applicants to qualify for a home loan.
The U.S. median home price rose by a record pace of 24% in May, compared with a year earlier, as tight inventory sparked bidding wars.
Pandemic-level mortgage rates are expected to be around at least through the end of 2022, according to a forecast from Fannie Mae, the world’s largest mortgage buyer.
The average U.S. FICO score rose to a record high in 2020 amid the worst pandemic in more than a century, according to Experian data.
Veterans and service members can again use their VA benefits to fund their fixer-upper projects....
