mortgage

2022 marked the end of cheap mortgages and now the housing market has turned icy cold

5:13am December 26, 2022

by Arezou Rezvani

The buying frenzy of a year ago is long gone. Home buyers have pulled away, sellers are holding back, and the whole housing market is locked in a deep freeze.

Mike Johansen stands by the door of the camping trailer where the couple is living while they wait for construction on their new home to be finished.

With mortgage rates near 7%, the housing party is over. Now it's hangover time

1:13pm October 12, 2022

by Chris Arnold

Higher rates are dashing the dreams of some would-be homebuyers while others stretch to buy but spend close to $1,000 a month more in monthly payments for a typical house.

Queue Listen Now

The appraisals done for home sales are increasingly done remotely rather than in person.

Economy

Even home appraisers are doing their jobs remotely

10:41am April 16, 2022

by Anthony Tellez

Remote appraisals shot up during the pandemic, replacing in-person inspections by appraisers. Even as restrictions ease up, they could be the standard for how homes are valued.

Mortgage rates on 30-year, fixed-rate loans rose above 5% this week. That's pushing the cost of buying a home higher and making homeownership unaffordable for more people.

Mortgage rates just hit 5%. Here's how much more expensive that makes home ownership

6:12pm April 08, 2022

by Chris Arnold

Higher mortgage rates and home prices have pushed the monthly payment to buy the median-priced home in the U.S. up more than 50% since the start of last year. Many first-time buyers can't afford it.

Queue Listen Now

A "for sale" sign is posted on a home last month in Philadelphia.

First-time homebuyers are getting squeezed out by investors

7:39pm February 18, 2022

With a historic shortage of homes for sale, investors making cash offers are pushing first-time homebuyers out of the market.

New homes under construction in Mebane, N.C., earlier this month. A historic shortage of homes for sale has been pushing prices sharply higher. So builders are trying to ramp up projects.

Home prices rose faster than ever in 2021. The typical home gained $50,000 in value

2:47pm January 20, 2022

by Chris Arnold

For first time homebuyers it was one of the hardest years ever to afford a house. But homeowners saw tremendous gains in housing wealth.

Race
Economy

Barriers for home ownership in East Winston: mortgage void and cash buyers

11:18am November 16, 2021

by David Ford

Winston-Salem is an economically divided city, and those divisions have only accelerated following the Great Recession.

Queue Listen Now

Homes that were sold by the Department of Housing and Urban Development between January 2017 and August 2020 are in federally designated flood zones at almost 75 times the rate of all homes sold nationwide in that period. New Jersey is one hot spot. Here,

Science

The Federal Government Sells Flood-Prone Homes To Often Unsuspecting Buyers, NPR Finds

4:04pm September 13, 2021

The Department of Housing and Urban Development disproportionately sells homes in flood-prone areas, NPR finds. Housing experts warn that this can lead to big losses for vulnerable families.

Race
Housing

The Secret Bias Hidden In Mortgage-Approval Algorithms

12:42pm August 25, 2021

by Associated Press

A record low number of homes for sale is pushing up prices and making it harder for first-time buyers to afford homeownership.

Out Of Whack: Lack of Homes For Sale Sends Prices Surging, Frustrates Buyers

3:56pm March 22, 2021

by Chris Arnold

Sales of existing homes fell 6.6% in February from the month before. Meanwhile, prices are up 16% over the past year, giving homeowners about $2 trillion more in equity and widening the wealth gap.