Jay Washington grew up in the house his mother bought in 1984 in Augusta, Ga., with no college degree and only her single income at a local manufacturing plant. He said her real estate agent had a prediction when she got the keys."'In about, like, five years, you're probably going to give me a call and thank me for being able to get this house,'" Washington said.Indeed, she did just that. Today, she's still in the home, whose value has steadily g
Builders are facing rising costs long before the first nail is hammered, but theyāre still finding ways to compete for affordability-minded buyers.Buying a brand-new home may seem like it starts with a floorplan and foundation. But long before the first wall goes up, the price tag is already climbing.Builders are covering costs for:purchasing the site for constructionsecuring permits and zoning approvalsconnecting water, sewer, electricity and
āThe 30-year fixed-rate mortgage averaged 6.55% this week,ā said Sam Khater, Freddie Macās Chief Economist. āPurchase application demand has weakened recently, but housing affordability is more favorable and housing inventory continues to rise, thus the backdrop for prospective homebuyers is modestly improving.āThe 30-year FRM averaged 6.55% as of July 16, 2026, up from last week when it averaged 6.49%. A year ago at this time
Condos are becoming cheaper as inventory swells ā but experts warn that the list price doesnāt paint the full picture.More than half of community associations (54%) plan to increase regular assessments ā the recurring fees that condo owners pay to help cover expenses like building maintenance, insurance and landscaping ā because of rising insurance costs and to build up cash reserves to meet new lending standards, according to a May 2026&
Affordability challenges continue to rattle buyers, but the latest data suggests conditions may soon start to improve.Housing affordability is showing signs of improvement lately, but costs still may be the biggest reason many buyers remain hesitant to get into the market.Ā Existing-home salesāwhich includes single-family homes, townhomes, condos and co-opsāfell 2.4% in June from the previous month, backing off a five-month high reached in Ma
As America celebrates its 250th anniversary of independence, we're reminded that the American Dream has always been about more than freedomāit has been about opportunity, family, and having a place to call home.For two and a half centuries, generations of Americans have worked hard to build brighter futures. They've started businesses, raised families, invested in their communities, and created lasting memories in homes where milestones were ce
Homeowners tapped an estimated $47 billion in equity during the first three months of 2026, according to a new report from Intercontinental Exchange.The June 2026 ICE Mortgage Monitor notes that this is the highest first-quarter withdrawal figure since 2021.Additionally, an estimated 3.9 million homeowners who took out a mortgage between 2020 and 2022 now also carry a second lien.The full picture? The "lock-in effect" holding the housin
Ā Freddie MacĀ (OTCQB: FMCC) today released the results of itsĀ Primary Mortgage Market SurveyĀ®Ā (PMMSĀ®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.49%.āThe average 30-year fixed mortgage rate was little changed this week at 6.49%ā said Sam Khater, Freddie Macās Chief Economist. āRates have remained relatively stable over the last six weeks. Meanwhile, purchase activity eased modestly and refinance activity has continued
The long list of spiraling costs includes property taxes, insurance, maintenance and home improvements.For many Americans, the math of homeownership doesnāt add up any more.A home buyer in 2019 could expect to spend about $20,000 a year on basic homeownership expenses: mortgage payments, property taxes, insurance, maintenance and repairs, according to data from Intercontinental Exchange and home-services marketplace Angi.By 2025,
