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....
