Long-Term Mortgage Rate Hits 7.57% this Week
It’s the highest average rate for a 30-year, fixed-rate loan in two decades – up from last week’s 7.49% as more buyers now turn to adjustable-rate loans.
Three Things Homebuyers Can Ask for Now
It’s still a seller’s market, but its strength has declined. Buyers now have a little leeway with sellers and notably more bargaining leverage with lenders.
Fewer Retirees Downsizing Due to Finances
Older adults once downsized to reduce monthly costs, but facing few small properties for sale and higher interest rates, many now feel locked into their current home.
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