Experts say there are ways buyers can trim mortgage costs and make ownership more affordable, including comparing lenders and exploring VA, FHA or USDA loans.
With first-time buyers at a record low of 21%, NAR urges all levels of government to adopt policies that expand ownership and boost housing supply.
The average rate on 30-year mortgages moved up to 6.22% from 6.17% last week. Rates on 15-year mortgages rose to 5.5% from 5.41%, Freddie Mac said.
AI tools like ChatGPT are changing how buyers search for homes. Agents should keep profiles current and share conversational, local posts to stay part of the search.
Many homeowners misunderstand how equity works, from what it is to how much they can borrow and what that really means for their finances.
UF researchers report Florida’s consumer sentiment fell for a fourth month in October, reflecting weaker views on finances and the national economy.
Key steps, from locating shut-off valves to budgeting for repairs, can help new homeowners stay safe, save money and avoid costly surprises.
Agents are embracing “digital door knocking,” using genuine online conversations, comments, messages and polls to build trust and attract new clients.
NAR research also shows the typical first-time buyer is now 40, repeat buyers average 62 and 88% of all buyers used an agent or broker.
The Sunshine State once again ranks as the best state to retire, thanks to its warm climate, coastal lifestyle and lack of state income, inheritance or estate taxes.
