Top Quality and Affordable Homes
National |
Average Rate* |
| 30-Year FHA Rate | 7.10% |
| 30-Year Fixed Rate | 3.25% |
| 20-Year Fixed Rate | 7.03% |
| 15-Year Fixed Rate | 3.25% |
| * Conforming FNMA Loan Amount. Rates may include points. | |
Information updated: 5/17/2024
State Level Employment Situation: April 2024
Nonfarm payroll employment increased in 38 states and the District of Columbia in April compared to the previous month, while 11 states saw a decrease. Alaska reported no change during this time. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 175,000 in April, following a gain of 315,000 jobs...Slowing Multifamily Building Market Holds Elevated Built-for-Rent Share
According to NAHB analysis of quarterly Census data, the count of multifamily, for-rent housing starts declined significantly during the first quarter of 2024. For the quarter, 80,000 multifamily residences started construction. Of this total, 75,000 were built-for-rent. This marks a notable 39% decline from the first quarter of 2023 for the multifamily built-for-rent category. The...Year-over-Year Gains for Single-Family Built-for-Rent Starts
Single-family built-for-rent construction posted year-over-year gains as of the first quarter of 2024, as builders sought to add additional rental housing in a market facing ongoing, elevated mortgage interest rates. According to NAHB’s analysis of data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design, there were approximately 18,000 single-family built-for-rent (SFBFR) starts...A Strong Quarter for Townhouse Construction
Year-over-year gains for townhouse construction continued at the start of 2024 as demand for medium-density housing continues to be strong. According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, during the first quarter of 2024, single-family attached starts totaled 42,000, which is 45% higher than the first quarter...Higher Interest Rates Keep Single-Family Housing Starts Flat in April
Single-family starts remained flat in April as mortgage interest rates moved above 7% last month and builders continued to face tight lending conditions. Overall housing starts increased 5.7% in April to a seasonally adjusted annual rate of 1.36 million units, according to a report from the U.S. Department of Housing and Urban Development and the...Orange County, Riverside County, San Bernardino County, Los Angeles County, San Diego Real Estate!
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Should I Rent or Buy a Home? [INFOGRAPHIC]
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