Is Now Time to Buy a Home?
The Winds of change are blowing…
With interest rates for a 30-year fixed mortgage surpassing 5% and some home sellers reducing listing prices, that’s the million dollar question.
Last week, the average interest rate for 30-year fixed-rate mortgages, the most common type of home loan, with conforming loan balances ($453,100 or less) increased to its highest level since 2010, to just over 5%, according to the Mortgage Bankers Association and illustrated in the chart below (created by WolfStreet with Investing.com data). [Read more…]