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affordability

Buyers are back in the market

March 26, 2023 affordability, buying

Market forces push and pull on mortgage rates The combination of the Fed’s efforts to combat rising inflation and uncertainty in the banking sector are having a push and pull effect on mortgage rates. This week the Fed raised the Federal Funds rate by .25%, making it nine rate increases in a row. While the Fed’s move […]

Strong jobs report, slowing home price growth

March 12, 2023 affordability, buying, house hunting, rates

Jobs numbers remain strong, home price growth slows Mortgage rates rose again on a weekly basis, but we saw some improvement towards the end of this week. This comes on the heels of a February jobs report that was strong, but cooler than January’s report, which stoked greater concern around inflation.  While small, the rate improvement is encouraging for buyers […]

Mortgage rate fluctuation return, but buyers remain active

February 10, 2023 affordability, buying, down payment, house hunting, rates, real estate, the morty report

Rates were volatile this week as the market adjusted to a range of mixed signals. The 1-2 punch of a lower Fed interest rate hike and strong jobs data sent rates back up this week, following a month of steady downward movement. This is driven to some extent by uncertainty around inflation – while the […]

Mortgage applications jump as buyer optimism returns

January 27, 2023 affordability, buying, credit, rates, real estate, the morty report

Buyer energy has returned to the market with benchmarks showing mortgage rates hitting some of their lowest levels since September in the past week. While they have ticked up again over the past few days, reflecting continued rate volatility in the market, some signs show that buyer optimism has renewed.

Positive signs in the housing market as rates dip

January 18, 2023 affordability, buying, rates, the morty report

January is looking brighter for homebuyers Newly released data shows the Consumer Price Index (CPI) rose 6.5% annually, reflecting a dip in the inflation we’ve seen over the past year. While inflation remains elevated, this marks two months of positive signs. So what does this mean for homebuyers? On the whole, a few moderately positive indicators […]

Looking ahead to 2023

December 29, 2022 affordability, buying, house hunting, rates, the morty report

Looking ahead to 2023. What homebuyers should know as 2022 comes to a close.

Lower rates at last?

December 16, 2022 affordability, buying, house hunting, rates, the morty report

Inflation shows some improvement, but how does it impact homebuyers?

Where are home prices headed?

December 1, 2022 affordability, buying, house hunting, rates, real estate, the morty report

Experts look ahead to 2023, but conditions are tough to predict Heading towards the end of the year, we’re seeing a lot of discussion around home prices, along with projections on where they may be headed in the coming months.  The National Association of Realtors’ Chief Economist, Lawrence Yun, believes that prices will remain relatively […]

Affordability first: FHA loans now available

November 8, 2022 affordability, FHA, homeready, jumbo, quick close advantage

Morty has announced the latest expansion of its marketplace as it continues to meet the affordability needs of today’s homebuyers. Morty’s marketplace now offers FHA loans, providing customers with access to more flexible down payment and credit score requirements. This expansion reflects the evolving needs of homebuyers and advances Morty’s mission to be a single […]

The Fed’s rate hike: a guide for homebuyers

November 4, 2022 affordability, buying, mortgage, rates, the morty report

The market is changing quickly, as the Fed raises rates again. What to do: focus on Affordability, don’t panic, know your options.

What to expect with rates as a volatile market adjusts

September 30, 2022 affordability, buying, rates, real estate, the morty report

Rates rise again, but volatility remains a constant Even as competition and inventory constraints loosen things up a bit, rising rates have kept affordability a challenge for buyers. We’ve seen significant volatility recently, not just in the wake of a much-expected rate hike from the Federal Reserve, but from world economic events like those surrounding the […]

The Fed’s latest rate hike: here’s what homebuyers need to know

September 27, 2022 affordability, Federal Reserve, inflation, rate hike, rate volatility, rates, the morty report

You may have heard that the Federal Reserve raised the federal funds rate by .75% on Wednesday. This rate controls how expensive it is for banks to borrow and lend from each other – which influences how much it costs for most consumers to borrow money, too.  What does this news mean for mortgage rates […]

Does homebuying have ‘seasons?’

September 26, 2022 affordability, First Time Homebuyers, rates, reader question, seasonality, the morty report

Seasons change, but do they change the market, too? Whether it’s the end of a lease or the start of a new job, there are often deadlines driving the home search. But regardless of what’s on the calendar, buyers almost always want to know about seasonality and whether it’s the “right” time of the year […]

Are home prices *really* falling?

September 2, 2022 affordability, First Time Homebuyers, rates, rent or buy, selling, the morty report

Prices still projected to rise – but stable for now Recent real estate headlines might look a little bleak, with descriptions like “plunging” home prices and a “slumping” market. But are they really? Let’s start with the market: Yes, it’s cooling slightly, but no – it’s not as extreme as some might suggest. We have to […]

Affordable homes in 2022? Yes – in these markets

July 22, 2022 affordability, buying, homeready, rates, the morty report

What does affordability mean to you? A list of the “Top 10 Affordable Cities for Middle-Class Homebuyers” certainly sounds promising for homebuyers chasing affordability – but what does that actually mean?

To buy or not to buy: What rising rates mean for new construction loans

June 30, 2022 affordability, float-down options, new build, new construction, rate locks, rates, the morty report

June 30, 2022. We’ve seen an increase in new construction loans recently as inventory remains at historic lows. But what happens if you were counting on 3% mortgage rates when they signed a contract over a year ago to purchase a home that still isn’t ready today?

What to keep an eye on as home sales fall and prices rise

June 24, 2022 affordability, home prices, homeready, National Association of Realtors, Pre-Approval, rates

June 24, 2022. Existing home sales fell 3.4% in May while the median home price rose above $400,000 for the first time, according to data just released by the National Association of Realtors (NAR). Despite the headlines, these numbers aren’t necessarily a reason to panic.

Get HomeReady: An Affordable Mortgage Program You Might Have Missed

June 15, 2022 affordability, down payment, fannie mae, fannie mae and freddie, fha loan, freddie mac, homeready, rates

It’s not easy being a homebuyer in today’s market. If low inventory and high home prices weren’t enough, once record-low mortgage rates have risen to levels not seen since 2008. It’s enough to inspire anyone to consider all sorts of financing alternatives on the journey toward buying a home. But in your mortgage search, you […]

Are We Finally Catching a Break?

June 9, 2022 affordability, ARMs, closing costs, closing date promise, homebuyer, homebuying

June 9, 2022. Mortgage rates last week dropped for the third week in a row. So the big question on homebuyers’ minds: are we finally catching a break?

It depends on where you are in the homebuying process.

Affordability down 29%

June 9, 2022 affordability, the morty report

June 9, 2022. Even as mortgage rates have stabilized a bit over the past few weeks, home affordability has taken a major hit. Recent data from the National Association of Realtors shows a 29% drop year-over-year in affordability, driven by the double hit of rising mortgage rates and home price growth.

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Morty is a licensed mortgage broker. NMLS ID # 1429243. NMLS Consumer Access. All loans originated by Morty are funded by third party lenders. Morty, Inc. is authorized to do business as “Morty” in certain states. Morty is an equal housing lender.

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