The housing market continues to be impacted by high mortgage rates. That's reducing the supply of available housing, sending home prices to an all-time high.
The Federal Reserve held interest rates steady while signaling it can cut rates only once this year. The decision came after data earlier showed inflation cooling slightly.
Lawmakers grilled the head of the VA home loan program this week about a self-inflicted error with the department's COVID forbearance program that left thousands of veterans in danger of foreclosure.
Senators are introducing a bill to help thousands of veterans who, through no fault of their own, were left facing foreclosure when a VA COVID-assistance program ended abruptly.
The median home price has risen to $413,800 – the second-highest price ever — thanks to a shortage of homes on the market and high mortgage rates. Experts say renting may be a better option.
The buying frenzy of a year ago is long gone. Home buyers have pulled away, sellers are holding back, and the whole housing market is locked in a deep freeze.
The highest rates in 20 years are dashing the dreams of some would-be homebuyers. Others stretch to buy but spend close to $1,000 a month more in monthly payments for a typical house.
Remote appraisals shot up during the pandemic, replacing in-person inspections by appraisers. Even as restrictions ease up, they could be the standard for how homes are valued.
Higher mortgage rates and home prices have pushed the monthly payment to buy the median-priced home in the U.S. up more than 50% since the start of last year. Many first-time buyers can't afford it.
The Department of Housing and Urban Development disproportionately sells homes in flood-prone areas, NPR finds. Housing experts warn that this can lead to big losses for vulnerable families.
Sales of existing homes fell 6.6% in February from the month before. Meanwhile, prices are up 16% over the past year, giving homeowners about $2 trillion more in equity and widening the wealth gap.
