Inflation is moving in the right direction, but it is not quite at the point for the Fed to cut interest rates.
A net of 272,000 payroll jobs were added to the economy in May 2024, which is an acceleration from recent months.
The 30-year fixed mortgage rate from Freddie Mac eased slightly to 6.99% over the last week from 7.03%. At 6.99%, with 20% down, a mortgage payment on the median-priced existing home of $400,000 is $2,127.
The inflation rate remained at 3.4% in April 2024, relatively unchanged from the rate a year ago, in April 2023.
Built-for-rent is the concept of new single-family home construction for the intent of renting, and may be a good solution for people not yet able to buy their first home.
April's pending home sales fell 7.7% from last month and decreased 7.4% from a year ago.
The 30-year fixed mortgage rate from Freddie Mac rose to 7.03% over the last week from 6.94%. With 20% down, the mortgage payment on the median-priced existing home of $407,600 would be $2,176.
The 30-year fixed mortgage rate from Freddie Mac averaged 6.94% over the last week.
The study's results suggest that the industry is right at the beginning of a "green revolution."
An analysis of data from metropolitan areas between July 2022 and July 2023 showed that the South maintained its position as the nation's fastest-growing region.
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