Most millennials think that buying a home is a top priority. Also: Mortgage rates are nearing the 5 percent mark. Check out these and other key housing headlines in Pacific Union's latest Real Estate Roundup.
Tag Archive: mortgage rates
Intense demand for U.S. real estate combined with a shortage of homes on the market have caused prices to soar over the past few years, helping to fuel an increase in the number of Americans who are dishonest on their mortgage applications.
Almost one-third of the U.S. population now lives in an area where a six-figure income is necessary to afford a home purchase, and here in the Bay Area, buyers will need to earn quite a bit more than that to get a foot in the door.
America's housing market continues to see annual price appreciation, but gains are beginning to slow, driven in part by higher mortgage rates. Potential homebuyers in California and the Bay Area, however, are not seeing as much relief, with prices growing at roughly double the national average.
A relatively affordable ZIP code in Alameda County ranks among the country's hottest real estate markets this year. Meanwhile, mortgage rates have climbed to a seven-year high. Read more in Pacific Union's latest weekly Real Estate Roundup.
An Alameda County city ranks as one of the top places in America for raising a family, while home flippers in two Oakland ZIP codes netted substantial profits in the second quarter. Keep up to date with the latest housing headlines of interest in Pacific Union's latest Real Estate Roundup.
The U.S. economy added jobs for the 95th consecutive month in August. Pacific Union Chief Economist Selma Hepp weighs in on the just-released numbers.
Though first-time homebuyers face multiple challenges in today's housing market -- including rising interest rates, strong appreciation, and critically low inventory levels -- that group was busier than it has been in 13 years in the first half of this year.
Besides student debt, rising home prices, and higher mortgage rates, most millennials also face the challenge of improving their credit scores to enter the housing market.
The number of Golden State residents who could afford to purchase a home declined in the most recently completed quarter, with more than 80 percent of counties less affordable than they were one year ago.
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