Commentary on higher borrowing costs argues that today’s mortgage rates are squeezing affordability and may push home prices lower if sellers want deals done.
More listings are being discounted as supply climbs and sellers in Texas face tougher negotiations.
Derenda Bradley’s Roseland purchase became the Chicago Housing Authority’s 1,000th successful Choose to Own homeownership milestone.
Higher borrowing costs are forcing some Arkansas buyers to scale back their searches, even as affordability programs and credit improvements can help.
Local lenders say buyers still have options even as borrowing costs climb and homeownership gets pricier.
Mortgage costs kept edging higher Tuesday, with bond-market volatility pushing the average 30-year fixed rate close to a three-year peak.
Selma Hepp said higher rates are still possible as mortgage borrowing costs remain sensitive to broader market pressures.
Forecasts point to a sharp rise in home heating bills, with local fuel dealers promoting payment plans and protection programs to ease the strain.
Local Realtors say the latest rate spike is making affordability tougher, especially for first-time buyers, while some shoppers are leaning more on cash and less on financing.
Economists and brokers say elevated borrowing costs and a shortage of listings are making it harder to buy in Northeast Wisconsin.