“If you’re regularly paying your rent on time, that’s a good indication you will also pay your mortgage on time,” says the Federal Housing commissioner.
Pending home sales are posting annual losses in the double-digits as home buyers continue to back away from the market due to surging mortgage rates.
The monthly mortgage payment on a $400,000 loan is about $2,470 compared to $1,660 a year ago, according to NAR.
Leslie Rouda Smith, the association’s president, joins administration officials and other housing leaders to discuss a comprehensive plan to address shortages.
Still, homeowners are faring well, with property prices surging despite a pullback in buyer demand, says NAR’s chief economist.
Despite an unexpected jump in new construction in September, demand for new homes is falling due to high prices and mortgage rates. Builders are lowering their asks to boost buyer traffic.
NAR Spire pairs real estate pros in underserved areas with experienced practitioners to help them find new business opportunities.
Monthly mortgage payments are 60% higher than a year ago, according to NAR. Buyers can save by shopping around for different types of loans.
Real estate professionals are deepening their involvement in giving back to the communities, according to a new NAR report.
At NAR’s iOi Summit this month, the annual Pitch Battle will aim to identify the next great innovation to help your business flourish.