Homeownership is the key pathway to build wealth and narrow the racial income and wealth inequality gap.
The 30-year fixed-rate mortgage remained flat this week after reaching a new record low a week earlier to an average of 2.71%.
The annual inflation rate rose for the sixth straight month in November as the economy gradually recovers from the COVID effect.
Cyber Mondays’ $10.8 billion represents a 15.1% year-over-year increase.
The job numbers show that e-commerce, housing demand, COVID-19 research/testing, and information technology services have been the factors driving job growth during May-November.
The unadjusted new jobless claims totaled 713,824 in the week ending November 28, a decrease of 15% from the previous week.
With teleworking at record high levels, people also decide to move for various reasons.
Jobs recovery becomes even more important to sustain homebuying. Jobs are also critical for commercial real estate.
Mortgage rates hit a new record low this week, decreasing the spread with the 10-year Treasury rate to a more normal range.
38% of renters can afford to buy a home but need 13 years of savings to make a 10% down payment.
Search Economists' Outlook