housing market

20% of Recent Homebuyers Made an Offer Sight-Unseen, Down from 35% Late Last Year

Redfin Survey Suggests that Buyers Are Under Less Pressure to Make Hasty Bids as Competition Eases One in five recent homebuyers said they made an offer sight-unseen, according to a Redfin-commissioned survey in May of 1,463 people across 14 major markets who had bought a home in the last year. That’s down from 35 percent …

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Mortgage Rates: Housing is Getting Stronger, But Rates Will Stay Low

Mortgage rates inched down this week, averaging 3.48 percent for a 30-year, fixed-rate loan, dropping from 3.50 percent last week. Last year at this time, rates were 3.86 percent, according to Freddie Mac.   Yesterday, in a much-anticipated meeting, the Federal Open Market Committee (FOMC) decided to keep the Federal funds rate unchanged in a contested vote, with …

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Mortgage Rates: Homebuyers Might Not Need to Depend on Cheap Borrowing Anymore

Mortgage rates rose this week, averaging 3.50 percent for a 30-year, fixed-rate loan, up from 3.44 percent last week. Last year at this time, rates were 3.91, according to Freddie Mac. But the real news for homeowners and homebuyers came on Tuesday, when the Census Bureau released its annual report on Income and Poverty in the United States. In an unambiguously …

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