Rates for home loans were little changed near long-time lows, providing a little breathing room for would-be buyers even as policymakers are increasingly taking an interest in housing matters.
Lower mortgage rates are helping the housing market. Applications for mortgages, for both purchases and refinances, jumped in the most recent week, according to data from the Mortgage Bankers Association. VA loans surged 14%, perhaps because Congress is currently considering legislation that would pay for benefits for Vietnam War veterans by raising the guarantee fees on new mortgages, as reported last summer.
And the long-standing issues facing the housing market are also grabbing attention. The National Association of Home Builders on Wednesday commended Democratic Senator Mike Thompson “for raising concerns... that tariffs on Chinese goods represent a $1 billion tax on housing and harm housing affordability” at a trade hearing.
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Home-Price Growth at Slowest Pace in Four YearsSlower price growth could be good news for the housing market in the crucial spring months if it pulls buyers back into the market, especially if mortgage rates, which have fallen recently, remain low. Inflation should show up in house prices so I'd be surprised to see a drop. I feel we need to make housing more affordable for low income individuals, to survive. One thing that I firmly believe if socialism serves, a common theme in America is everyone should have the basic survival nesesities, to live. Like Food, Clothing, Housing ect. Good news 👍
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