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US pending home sales hit nearly 3-year high
Dec 29 (Reuters) – Contracts to purchase previously owned U.S. homes unexpectedly shot to the highest in nearly three years in November, as improving affordability conditions drew in buyers, the National Association of Realtors said on Monday. Pending home sales rose 3.3% last month after an upwardly revised 2.4% gain in October, the NAR said. […]
Average rate on a US 30-year mortgage holds steady at 6.76%, not far from highest levels this year
The 30-year mortgage rate stays at 6.76% for a second week, as affordability challenges persist and economists expect continued rate volatility in 2024.
Home ownership further out of reach as rising prices, high mortgage rates widen affordability gap
U.S. homebuyers now need $114K+ income to afford a median-priced home. High mortgage rates and rising prices keep ownership out of reach for many.
