Bankrate says the average 30-year fixed mortgage is back above 7 percent, while the Federal Reserve’s September rate increase may keep pressure on borrowing costs.
Zillow says the monthly gap between renting and buying in Memphis has widened as rates, taxes and insurance keep new mortgage payments far above average rent.
Buying in a high-rate market brought less competition, more room to negotiate, and a chance to refinance later.
Homeowners over 65 are choosing renovations over moves, reshaping demand for accessibility upgrades and keeping bigger houses off the market.
Rates briefly reached 7.49% last week, while inventory, pending sales and purchase applications all pointed to a softer housing market.
Stocks have delivered stronger returns than homes over the past decade, while a frozen housing market is giving buyers more leverage.
A new national survey suggests rent stress is spreading beyond lower-income households and into the middle of the income ladder.
A Houston family used a spreadsheet, a bridge loan and a renovation budget to turn an unusual former medical office into a home.
A Reddit discussion shows how low existing mortgage payments are keeping many owners in place, even when they need more room or a different home.
Redfin says sellers are leaning on incentives to move homes as inventory climbs and buyers gain leverage in many markets.