Zonda’s Ali Wolf says federal efforts to make homes more affordable won’t work without local changes. Many Americans agree there’s a housing crisis—and it’s radically different from the last one. Instead of the values of homes dropping too fast, as they did during the foreclosure debacle starting in 2007, they’ve stayed stubbornly high—locking many would-be buyers out…

Mortgage rates have dropped significantly in recent months, and that means one thing for those who bought a home in the last couple years: It might be time to refinance. Refinancing your mortgage means swapping your current interest rate for a new one. This is typically done if rates have fallen a good amount since…

You might expect that mortgage rates would be falling right now after the Federal Reserve cut interest rates by a half-point last month. Here are 4 ways the Federal Reserve’s big rate cut could change the housing market Instead, mortgage rates jumped higher. The latest data from Freddie Mac showed that the average 30-year mortgage rate had…

Beyond the pride of owning a home, there are significant financial benefits that come with it, especially during tax season. Navigating these benefits doesn’t have to be overwhelming despite the complexity of tax laws. With some foundational knowledge, homeowners can maximize their savings and enhance their financial well-being. Mortgage Interest Deduction Homeowners can deduct the…

The presidential election in 2024 is poised to have a significant impact on interest rates, a critical factor influencing various financial markets and economic conditions. Historically, elections bring a degree of uncertainty that can lead to volatility in financial markets and subsequently affect interest rates. Here are some key factors to consider: Policy Uncertainty Elections…

With rising inventory and the expectation of continued Fed rate cuts, increased sales can’t be far behind. Retreat for First Timers In August, first-time buyers accounted for 26% of sales, matching the all-time low last seen in November 2021. This is down from 29% in both July 2024 and August 2023. A market requires both…

It rises for the third week in a row. The average rate on a 30-year mortgage in the US rose for the third week in a row, reaching its highest level in eight weeks. The rate rose to 6.44% from 6.32% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.63%. The last time the average…

Should I Buy a Home Now? With the ever-changing real estate market, deciding if now is the right time to buy a home can be challenging. Various factors such as market conditions, interest rates, personal financial situation, and long-term plans should all be taken into account. This blog will guide you through some critical considerations…

Should I Refinance My Home Now? Refinancing your home can be a beneficial financial move, but it’s important to evaluate whether now is the right time for you. Various factors, including current interest rates, your financial goals, and the length of time you plan to stay in your home, play key roles in this decision.…

Should You Use Your Home Equity to Pay Off High-Interest Debt?