Realtor.com says price cuts hit a September record for this cycle as inventory rose and pending sales weakened across the country.
Borrowing costs are rising again just as home prices stay elevated, leaving many households with tighter monthly budgets and fewer affordable options.
A new five-year outlook suggests mortgage costs may ease gradually, but not return to the ultra-low levels seen during the pandemic era.
Rising vehicle prices, longer repayment terms and frequent trade-ins are making it harder for many borrowers to escape underwater loans.
Borrowing costs kept rising as refinance applications sank sharply and homebuyers faced higher rates alongside firmer home prices.
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.
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.