Housing Market Gets Back-to-Back Good News

Mortgage rates fell to their lowest in months amid indications that borrowing costs might come down later in the year, a development that could help with affordability for prospective homebuyers at a time when supply of properties in the market was showing signs of improvement.The 30-year fixed rate mortgage fell again as it averaged 6.77 percent as of July 18, compared to the previous week's 6.89 percent.

At the same time, prices for homes shot up amid heightened demand prior to the central bank's tightening of financial conditions. The increased interest in home purchases was met with diminished supply of homes in the market, contributing to the rise in prices.Inflation fell in June, closer to the Fed's target of 2 percent, and inventory of homes for sale has grown, which has helped to bring down prices, particularly in the South and the Sun Belt.On Wednesday, the U.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Housing Market Gets Bad News as Construction DropsNew construction declined in May, a signal of supply issues in the housing market.
Source: Newsweek - 🏆 468. / 52 Read more »

Housing Market Gets Good News About a Critical ProblemThe supply of homes improved in June, according to government data.
Source: Newsweek - 🏆 468. / 52 Read more »

Here's why international buyers are pulling way back from the U.S. housing marketForeign buyers are facing high prices and tight supply in the housing market, and they’re also up against a strong U.S. dollar.
Source: nbcchicago - 🏆 545. / 51 Read more »

Park Ridge farmers market gets new vendors, welcomes back favoritesFresh pasta, hanging flower baskets and Transylvanian chimney cakes are just some of the offerings that have arrived at Park Ridge’s farmers market this year. The market is in full swing ever…
Source: chicagotribune - 🏆 8. / 91 Read more »

Mortgage rates climb above 7% as loan applications fall in sign of struggling housing marketPolitical News and Conservative Analysis About Congress, the President, and the Federal Government
Source: dcexaminer - 🏆 6. / 94 Read more »