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But right now, borrowers should expect mortgage rates to remain near their current levels for the rest of 2024. See more mortgage rates on Zillow Real Estate on ZillowWhat Are Today's Mortgage Refinance Rates? See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are hovering around 6.20%, according to Zillow data. But now that inflation has decelerated and the Fed is expected to cut rates soon, mortgage rates have trended down.

Persons: Freddie Mac, it's, Fannie Mae Organizations: Federal Reserve, Zillow, Fed, Mortgage, Association, ARM, . Government Locations: Chevron, Government

☆ Homebuyers Have Hope With Lower Mortgage Rates, More Houses Available
▼ + stars: | 2024-10-09 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

Wild swings in mortgage rates discouraged almost everyone from venturing out into the market. As I wrote earlier this year, a gummed-up housing market — the Ice Age I was talking about — is good for nobody. When mortgage rates hit multidecade lows during the pandemic, millions of people were able to snag or refinance their way into cheaper monthly costs. That'd be within spitting distance of what the experts at John Burns Research and Consulting, a housing-research firm, call the "magic mortgage rate." In other words, trying to predict mortgage rates — and buying or selling a home accordingly — is a fool's errand.

Persons: Green, that's, Skylar Olsen, everyone's, it's, there's, Fannie Mae, John Burns, they'd, Ralph McLaughlin, Olsen, Lawrence Yun, Altos, Mike Simonsen, Chen Zhao, Zhao, We're, Mark Palim, Palim Organizations: Federal Housing Finance Agency, Federal Reserve, John, John Burns Research, Consulting, National Association of Realtors, Altos Research, Builders, Sun Locations: Sun Belt, Midwest

☆ 'Good Bones' star Karen E. Laine is selling the 500-square-foot cottage she renovated on the HGTV show for $500,000
▼ + stars: | 2024-10-09 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +1 min

Karen E. Laine is selling the 500-square-foot home she renovated on "Good Bones." Go to newsletter preferences Thanks for signing up! AdvertisementA little over a month after it made its HGTV debut, Karen E. Laine is selling the house she renovated on "Good Bones." During the season, Laine renovated a 500-square-foot home in Wilmington, North Carolina, to split her time between Indiana and the coast. But a little over a month after the series aired, Laine is selling the home for half a million dollars.

Persons: Karen E, Laine, —, Mina Starsiak Hawk, Zillow Organizations: Service, HGTV Locations: Wilmington , North Carolina, Indiana

This has helped push mortgage rates back up near where they were this summer, when 30-year rates were above 6%. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. But now that inflation has decelerated and the Fed is expected to cut rates soon, mortgage rates have trended down. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, they've, Freddie Mac, it's, Fannie Mae Organizations: Federal Reserve, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Fed, Mortgage, Association Locations: Chevron

☆ Zillow will now show climate risk data on for-sale property listings
▼ + stars: | 2024-10-08 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

As intensifying natural disasters threaten growing swaths of the country, assessing an area’s climate risk has become an essential part of shopping for a new home for many Americans. According to a recent Zillow survey, more than 4 out of 5 prospective homebuyers consider climate risks when they shop. Home shoppers can explore climate risk data on Zillow’s site through color-coded maps or on individual listings. The feature not only shows a home’s risks today, but it also estimates a home’s climate risks 15 years and 30 years into the future, which are the typical lengths of fixed mortgages. “Climate risks are now a critical factor in home-buying decisions,” Skylar Olsen, chief economist at Zillow, said in a statement.

Persons: Zillow, ” Skylar Olsen, Hurricane Helene Organizations: CNN, First Locations: United States, Hurricane Milton, Florida, Hurricane

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are hovering near 6% today, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates remain in the low 5% range, according to Zillow data. Average Refinance Mortgage Rates TodayRefinance rates have inched up after dropping in September. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data.

Persons: they're, they've, you'll, Freddie Mac, it's, They'll Organizations: of Labor Statistics, Federal, Zillow, Fed Locations: U.S, Chevron

Since the Fed will likely be able to take a slower approach to lowering rates, mortgage rates are unlikely to go down further this year. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are around 6%, according to Zillow data. In September, 30-year refinance rates averaged 5.89%, while 15-year refinance rates were around 5.19%. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. Now that the Fed has cut rates, mortgage rates may not drop much in October.

Persons: they're, you'll, Freddie Mac, it's, they've Organizations: Bureau of Labor Statistics, Federal, Zillow, Fed Locations: U.S, Chevron

☆ Hallways are disappearing from America's homes
▼ + stars: | 2024-10-05 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +7 min

AdvertisementAs homeowners and builders make tough design choices, hallways are disappearing from many newly built homes. Highland Homes' Palermo floor plan. Courtesy of Highland HomesBy contrast, a Highland Homes floor plan from 2018 for a one-story home has more hallways. Why long hallways are becoming passéThere are several reasons hallways are being phased out of newly built homes, apart from saving money for builders. Courtesy of Highland HomesPictured above is Highland Homes' 608 floor plan, a two-story home of about 4,500 square feet released in 2020.

Persons: John Burns, Mikaela Arroyo, Arroyo, It's, Taylor Morrison, Jen Shurtleff, Shurtleff, — Organizations: National Association of Home Builders, John Burns Research, Consulting, Trends, JBREC, Tri Pointe Homes, Forbes, Highland Homes, Highland, Homes, Generations United Locations: Tri Pointe, Texas, Highland, Dallas, Fort Worth , Houston, Austin, San Antonio, Palermo

☆ A new Blue Origin: CEO Dave Limp is bringing urgency and ‘decisiveness’ to Jeff Bezos’ space company
▼ + stars: | 2024-10-05 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +11 min

Blue Origin CEO Dave Limp, left, and founder Jeff Bezos look up at a New Glenn rocket on at the company's LC-36 facility in Florida. Blue OriginDave Limp had only one question for Jeff Bezos when he interviewed last year to become CEO of Blue Origin, the billionaire's space venture. "Jeff felt that [Blue Origin] needed manufacturing expertise; it needed decisiveness; it need a little bit of energy," Limp said. CEO Dave Limp, third from the left, with Blue Origin employees at the company's New Glenn facility in Florida. In the mission's place, Blue Origin will fly a demonstration of its spacecraft Blue Ring on the first New Glenn launch.

Persons: Dave Limp, Jeff Bezos, Jeff, Limp, Bezos, It's, I'm, New Glenn, Allen Parker, Jennifer Pena, Leanos, Ian Richardson, Tim Collins, it's, Origin's, ULA, Paul Hennessy, Glenn, We've, Starliner, Shepard, Blue, let's Organizations: Glenn, Florida ., Amazon, CNBC, Blue, SpaceX, United Launch Alliance, Lab, Firefly Aerospace, Company, NASA, Amazon Devices, Flexport, Vulcan, Cape Canaveral Space Force, Anadolu, Getty, New Glenn, Falcon, Shepard, National Security, Washington , D.C Locations: Florida, New, Mars, Seattle, Kent , Washington, Texas , Florida, Alabama, ULA, West Texas, Cape Canaveral , Florida, Glenn, Washington ,, Huntsville , Alabama, Cape Canaveral , Texas

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are hovering near 6%, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates are in the low 5% range, according to Zillow data. Average Refinance Mortgage Rates TodayRefinance rates are a bit higher today after dropping in September. Last month, 30-year refinance rates averaged 5.89%, while 15-year refinance rates were around 5.19%.

Persons: they've, you'll, Freddie Mac, it's, refinance Organizations: of Labor Statistics, Labor, Federal Reserve, Zillow, Fed Locations: U.S, Chevron

Over the last few months, mortgage rates have dropped dramatically, going from near 7% to below 6%. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. You can calculate this by dividing your closing costs by the amount you're saving on your monthly mortgage payment. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Now that the Fed has started lowering its benchmark rate, mortgage rates are down.

Persons: they've, Freddie Mac Organizations: ADP, Federal Reserve, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Fed Locations: Chevron

☆ Zillow adds climate risk data to home listings as threats rise
▼ + stars: | 2024-10-04 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

As concerns about flooding, extreme temperatures, and wildfires grow, this tool also helps agents inform their clients in discussing climate risk, insurance, and long-term affordability." But climate risk firm First Street, which incorporates the effects of climate change into its property risk scores, shows nearly 12% of homes in the state at flood risk. Each for-sale listing on Zillow now displays First Street risk scores for flood, fire, wind, air and heat. This is especially true for the flood risk, because climate change is already intensifying the severity of rainfall, even in minor storms. More than 80% of buyers now consider climate risk when purchasing a home, according to a survey by Zillow.

Persons: Skylar Olsen, Hurricane Helene, Ed Kearns, We've, Zillow, Kearns Organizations: FEMA, Federal Emergency Management Agency, Government, First Locations: North Carolina, Carolina

☆ Nearly half of U.S. homebuyers use this strategy to lower their monthly mortgage payments
▼ + stars: | 2024-10-04 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

With homes becoming increasingly unaffordable, more buyers are using an increasingly popular strategy to lower their mortgage rate. Buying points — also referred to as "discount points" or "buying down the rate" — involves paying extra to your lender at closing to reduce the interest rate on a mortgage. That reduced rate results in smaller monthly payments and long-term interest savings over the life of the loan. A larger down payment reduces the total loan amount, which also has the effect of lowering monthly payments. Ultimately, whether a larger down payment or buying points will actually lower your monthly payments depends on your specific loan terms.

Persons: That's, Aaron Gordon Organizations: Guild Mortgage

Housing is one of many issues Vance, the Republican nominee, believes are rooted in the arrival of undocumented migrants in America. But many economists caution that connecting rising numbers of immigrants to housing costs is no simple thing. Other economists have noted links between immigrants and increased housing costs. Vance later shared two studies on housing and immigration that showed a link between increased immigration and rising housing costs — though each offered various caveats, including noting that the impact changes over time. Indeed, Zillow data shows a clear upward trend in Springfield rents this year compared with 2023.

Persons: America’s, Sen, JD Vance, Tim Walz, Vance, you’ve, ” Vance, Donald Trump, Walz, ”, ” Walz, Kamala Harris, Ernie Tedeschi, Joe Biden, Vance’s, Michelle Bowman, Chris Herbert, Herbert, Sharon Cornelissen, Bryan Heck, Democratic Sen, Sherrod Brown, Heck, ” Heck Organizations: Minnesota Gov, Republican, CBS, Democratic, NBC, White House, Federal, Cato Institute, Harvard University’s, for Housing Studies, Consumer Federation of America, NBC Boston Locations: Ohio, America, Springfield , Ohio, U.S, New York City, Los Angeles, Dearborn, Hamtramck, Detroit, Brockton , Massachusetts, Haiti, Cape Verde, Central, South America, Springfield, Washington

See more mortgage rates on Zillow Real Estate on ZillowWhat Are Today's Mortgage Refinance Rates? See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are hovering around 5.90%, according to Zillow data. Current 15-Year Mortgage RatesAverage 15-year mortgage rates are in the low 5% range, according to Zillow data. But now that inflation has decelerated and the Fed is expected to cut rates soon, mortgage rates have trended down.

Persons: Freddie Mac, it's, Fannie Mae Organizations: Fed, ADP, Bureau of Labor Statistics, Zillow, Mortgage, Association, ARM, . Government Locations: Chevron, Government

☆ Gen Z's New Side Hustle: Getting Rich As Airbnb Super Hosts
▼ + stars: | 2024-10-02 | by ( Amanda Hoover | ) www.businessinsider.com time to read: +11 min

Arbitrage hosts like Anderson take to TikTok, YouTube, and Instagram to offer advice and promote paid courses on how to start and build your own short-term-rental empire. A 25-year-old TikToker with the handle @airbbnbmastery101 titled one video "How to quit your job in 2024 and get rich." There's no way to know for sure how popular Airbnb arbitrage is. Related storiesBut Airbnb arbitrage, in theory, isn't illegal; it depends on local laws governing how short-term-rental properties are licensed. DeRose says that he regrets working in short-term-rental arbitrage and that "it's very clearly hurting" the housing market.

Persons: Hailie Anderson, factly, Anderson, —, Donald Trump, Dave Ramsey, Trump, Inayah McMillan, — tycoons, TikTok, she's, Airbnb, Jamie Lane, Alfred, They're, there's, Lane, Konrad Bicher, Wolf, Bicher, Tom DeRose, It's, it's Organizations: YouTube, HGTV, Target Locations: Austin, Salt Lake City, Nashville, Florida, New York, Cities, Barcelona, Europe, Asia

Mortgage rates are starting the month a little higher, with 30-year rates hovering around 5.90%, according to Zillow data. But if conditions hold up, mortgage rates will likely remain near their current levels through the end of 2024. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: they've, Jerome Powell, you'll, They've, Freddie Mac, it's, Fannie Mae Organizations: Federal, Today's, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Fed, Mortgage, Association Locations: Nashville, Chevron

☆ She was still in college when she started applying for the housing lottery. Now, she pays $1,600 for a 1-bedroom apartment in NYC.
▼ + stars: | 2024-10-01 | by ( Amanda Goh | ) www.businessinsider.com time to read: +8 min

AdvertisementMitchell won the NYC housing lottery over a year ago. Molly Stromoski for NYC Department of Housing Preservation and Development"It's damn near as easy as swiping on a dating app. Molly Stromoski for NYC Department of Housing Preservation and DevelopmentTo qualify for an apartment, each household must meet specific income requirements. Applying for the housing lottery is free, but competition is stiff: According to the HPD, on average, there are 450 applications received per rental unit. AdvertisementShe has a piece of advice for those interested in the housing lottery: Apply, apply, apply.

Persons: Ceronne Mitchell, —, Mitchell, you'll, Molly Stromoski, Long, Lacey, It's, There's, I'm Organizations: New, Service, NYC Department of Housing Preservation, Department of Housing Preservation, Housing Development Corporation, Development, World Trade Center, Facebook, New York Locations: New York City, Queens, Brooklyn, NYC, New York, Zillow

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are hovering near 5.70% today, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates remain right around 5%, according to Zillow data. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. Mortgage rates are unlikely to drop back down to the historic lows of 2020 and 2021, when 30-year fixed rates fell below 3%.

Persons: We're, there's, you'll, Freddie Mac, it's, they've, They'll Organizations: Zillow, Fed Locations: Realtor.com, Chevron

In spite of this, many buyers are holding off since mortgage rates are expected to continue going down. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's interest rates will affect your monthly payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are around 5.60%, according to Zillow data. Mortgage rates are determined by a variety of different factors, including larger economic trends, Federal Reserve policy, your state's current mortgage rates, the type of loan you're getting, and your personal financial profile. Now that the Fed has cut rates, mortgage rates may not drop much in October.

Persons: you'll, Freddie Mac, it's, they've Organizations: Federal Reserve, Fed, Zillow Locations: Chevron

☆ My daughter lives in Asheville, and I lost contact with her for 3 days as the hurricane hit. I imagined the worst.
▼ + stars: | 2024-09-30 | by ( Jeneane Nicodemus | ) www.businessinsider.com time to read: +6 min

I texted her when I heard Hurricane Helene was headed her way to see how she was preparing. I then didn't hear from her for three days, and as I watched the news, I feared the worst. I found myself rocking back and forth for three days, imagining the worst for my ill-prepared daughter. Related storiesShe sent a series of short texts right before they lost power — "Five trees went down outside our building, water, and power out." A woman shared that her sister was pregnant and stuck on top of her roof in Black Mountain, a neighborhood my daughter lived in when she first moved there.

Persons: Helene, —, wasn't Organizations: Asheville, Service, Facebook, Weather Locations: San Francisco, Asheville, Carolina, Broad Rivers, Buncombe, Buncombe County

See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-Year Mortgage Rates TodayAverage 30-year mortgage rates are hovering near 5.80%, according to Zillow data. 15-Year Mortgage Rates TodayAverage 15-year mortgage rates are near 5%, according to Zillow data. Last month, 30-year refinance rates averaged 6.59%, while 15-year refinance rates were around 5.90%. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data.

Persons: you'll, Freddie Mac, it's, they've, They'll, refinance Organizations: Federal Reserve, Fed, Zillow Locations: Chevron

☆ A record number of apartments are getting built this year. That's great news for real estate affordability.
▼ + stars: | 2024-09-28 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +4 min

The US will see construction completed on a record number of apartments this year. The Sun Belt region in particular is seeing this dynamic play out. The US will see construction on a record number of apartments completed this year. They're now seeing rent prices fall, or at least remain stagnant as the rest of the nation lags behind. That means the market will eventually balance itself in the next few years, which will lead rent prices to once again rise, she said.

Persons: —, Laurie Goodman, Goodman, Austin, Chen Zhao, Zhao Organizations: Service, Housing Finance, Center, Urban Institute, Sun, metros, Dallas, Harvard Locations: Dallas, New York, Austin

☆ One couple relocated from Wyoming to South Carolina but moved after 5 months due to cost of living and traffic
▼ + stars: | 2024-09-28 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +7 min

The Mitchells are originally from Mississippi but moved to a small town in Wyoming in 2022. "And I was in the wedding and events industry, and that's really, really big in Charleston, so I was super interested in it." But just five months after they relocated, the Mitchells discovered Charleston didn't live up to the hype for them. Charleston challengesThe Mitchells told Business Insider that the cost of living in Charleston almost prevented them from moving there. AdvertisementOnce they moved to Charleston, the cost of living continued to be a pain point for the Mitchells regarding expenses like eating out or gas prices.

Persons: Morgan, Dawson Mitchell, —, " Dawson, that's, Dawson, Zillow, there's Organizations: Service, Mitchells, Charleston, Facebook, BI, Morgan Locations: Charleston, Mississippi, Charleston , South Carolina, Wyoming, Morgan, Southern, Louisville , Mississippi, Louisville

☆ When a millennial moved to Detroit from SF, he bought a home and opened a coffee shop. He said that would have been impossible on the West Coast.
▼ + stars: | 2024-09-28 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

David Valdez, 35, moved to Detroit from San Francisco in 2018. Valdez moved to Detroit for better job opportunities and to be with his partner, Juna Durrant, who is from Michigan. In San Francisco, Valdez said he worked two jobs and lived with roommates just to get by. At the time, Valdez worked at various cafés in Detroit, including Astro, a coffee shop in the historic Corktown neighborhood. "If I stayed in San Francisco, I wouldn't even begin to try to open a coffee shop," Valdez said.

Persons: David Valdez, he's, Valdez, —, I've, Juna Durrant, Durrant, Detroit Valdez, San, California Valdez, refinanced Organizations: Service, Census Bureau, Starbucks, Astro, Business, David Locations: Detroit, San Francisco, Michigan, California, Mexico City, Alba, Mexican, David Valdez, ProsperUs, Corktown

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