While U.S. home prices grew at record speed in December, rising mortgage rates threatened rapid price appreciation as buyers were sidelined by affordability concerns. S&P Case-Shiller’s National Home Price Index reported 18.80 percent year-over-year home price growth in December. The 20-City Home Price Index posted a year-over-year gain of 18.60 percent as compared to November’s year-over-year home price gain of 18.30 percent. Home prices rose by 1.50 percent from November to … [Read more...]
Which Home Equity Loan Is The Best Option?
There are a number of significant advantages that come with homeownership, and one of the biggest advantages is the ability to take out a home equity loan. As homeowners pay off the mortgage, the amount of equity in the house increases. Homeowners can borrow against the equity in their house to fund other projects. For example, homeowners could borrow against home equity to complete a home renovation, pay medical expenses, or pay down student loans. The most common home equity loans include … [Read more...]
What’s Ahead For Mortgage Rates This Week – February 22, 2022
Last week’s economic reporting included readings from the National Association of Home Builders on housing markets, reports on sales of previously owned homes, housing starts, and building permits issued. Weekly readings on mortgage rates and jobless claims were also released. NAHB: Rising Materials Costs, Supply Chain Problems Weigh on Builders The National Association of Home Builders’ February housing market index reading was 82 and one point lower than in January. This was the … [Read more...]
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