Should we tighten down payment requirements where prices are rising at double-digit rates?
Purchase prices increased most in Warren-Troy-Farmington Hills, Mich., up 6.2 percent in a year.
“The five-year swoon in home prices has done little to shake the confidence of the American public in the investment value of homeownership.” That’s the key finding of a new nationwide Pew Research Center survey that queried about 2,140 adults in late March. Indeed, more than 80 percent of those polled said buying a home was
Mortgage interest rates rose again this week in Bankrate’s weekly survey, creating a dilemma for homebuyers: Act now to avoid the risk that rates might rise further or wait and hope that prices will drop more. Either way, it’s not an easy choice. Mortgage and realty brokers tend to emphasize the risk of rates rising.
U.S. home sales and prices are on a downward slide. Sales of existing homes dropped 9.6 percent in February to a seasonally adjusted annualized rate of 4.88 million units, a pace that’s slowed 2.8 percent compared with the 5.02 million level recorded a year earlier, according to the National Association of Realtors, or NAR. An annual