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.
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.