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mortgage rates

May 2, 2025

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.

A for sale sign with a home in the background
May 1, 2025

Average rate on a US 30-year mortgage eases to 6.76%, its second straight weekly decline

U.S. mortgage rates dipped to 6.76%, offering slight relief to buyers, but high costs and rising home prices continue to dampen spring housing activity.

FILE - A "For Sale" sign is displayed in front of a home in Des Plaines, Ill., Monday, Aug. 26, 2024. (AP Photo/Nam Y. Huh, File)
Apr 24, 2025

Average US rate on a 30-year mortgage eases to 6.81%, hovering near highest level in over two months

The average rate on a 30-year mortgage in the U.S. eased this week, though it remains close to its highest level in more than two months. The rate fell to 6.81% from 6.83% last week, mortgage buyer Freddie Mac said Thursday.

FILE - A housing development in Cranberry Township, Pa., is shown on March 29, 2024. (AP Photo/Gene J. Puskar, File)
Apr 24, 2025

March home sales slowed in a lethargic opening to the spring buying season

Sales of previously occupied U.S. homes slowed in March, a sluggish start to the spring homebuying season as elevated mortgage rates and rising prices discouraged many prospective home shoppers.

A for sale sign with a home in the background
Apr 4, 2025

Average US rate on a 30-year mortgage dips to 6.64% for the second drop in 2 weeks

The average rate on a 30-year mortgage in the U.S. edged lower for the second week in a row, a modest but welcome boost for prospective home shoppers in the midst of the spring homebuying season. The rate fell to 6.64% from 6.65% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the […]

FILE - A for sale sign stands outside a single-family home Thursday, June 27, 2024, in Englewood, Colo. (AP Photo/David Zalubowski, File)
Mar 20, 2025

US home sales rose in February as mortgage rates eased and more homes put up for sale

LOS ANGELES (AP) — Sales of previously occupied U.S. homes rose in February as easing mortgage rates and more properties on the market encouraged home shoppers. Existing home sales rose 4.2% last month from January to a seasonally adjusted annual rate of 4.26 million units, the National Association of Realtors said Thursday. Sales fell 1.2% […]

FILE - A sign stands outside a home for sale in the Alamo Placits neighborhood Tuesday, Aug. 27, 2024, in central Denver. (AP Photo/David Zalubowski, File)
Mar 20, 2025

Average US rate on a 30-year mortgage rises slightly for the second week in a row

Associated Press (AP) — The average rate on a 30-year mortgage in the U.S. rose slightly for the second week in a row, a modest setback for prospective home shoppers as the spring homebuying season ramps up. The rate rose to 6.67% from 6.65% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate […]

Feb 3, 2025

Trump 2.0: Making real estate great again?

Let Trump be Trump. A campaign staffer’s now-famous motto during President Donald Trump’s 2016 bid for president nods to the mercurial nature of the real estate mogul and former reality television star — as well as a similar slogan from “The West Wing.” And Trump himself has repeatedly said he trusts his gut over his […]

Jan 24, 2025

2024 Va. housing market outpaced 2023 — barely

There were 102,509 home sales in Virginia in 2024. That’s 4,000 more than the previous year, according to Virginia Realtors. “While Virginia’s 2024 housing market ended stronger than 2023, it was still relatively slow compared to average levels,” Ryan Price, chief economist for the trade organization, said in a statement. “Looking ahead to 2025, we predict pent-up […[...]

Dec 20, 2024

Statewide home sales, inventories rose in November

The fall 2024 housing market has outpaced the fall 2023 market across the commonwealth, according to statewide November sales data released Dec. 20 by Virginia Realtors. “For two months in a row now, Virginia has seen double-digit growth in closed sales,” Ryan Price, the trade organization’s chief economist, stated in a news release. In November, […]

A bar chart of Virginia home sales in July.
Aug 26, 2024

Inventory grew in Va. housing market in July

Inventory grew for Virginia’s housing market in July, according to Virginia Realtors data released Aug. 21.  At the end of July, there were 19,162 active listings in the state, which was 4,223 more listings than in July 2023 — a 28.3% increase. Of those listings, 12,439 came onto the market in July, a 13.6% increase […]

Virginia home sales in past Februarys. Figure courtesy Virginia Realtors
Mar 24, 2023

Va. home sales down 20% from a year ago

Virginia home sales were down 20.3% in February compared with the same month last year, marking the 15th consecutive month of declining sales, according to a Virginia Realtors report released March 21. Home sales in the commonwealth last month totaled 6,505, a decrease of 1,655 sales from February 2022. The Northern Neck and parts of […]

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