“After climbing for much of 2018, mortgage rates have been falling since the beginning of the year. The average mortgage APR (annual percentage rate) was recently at 4.28%, according to Freddie Mac, compared to a high of 5% in 2018. But just because rates are down doesn’t mean you’re getting a good deal, says Consumer Reports.”
Median rent is appreciating more quickly this spring than last in 27 of the 35 largest U.S markets, according to the May Zillow Real Estate Market Report. In some of the nation’s most expensive rental markets, median rent is appreciating more slowly now than last spring. In Seattle, for example, where annual rent growth has been among the highest in the country, rent appreciation has slowed from a 5.8% annual growth rate last spring, to a 3.3% annual growth rate now. A similar trend holds true in Los Angeles, Portland and Boston.
“They were blamed for the biggest financial disaster in a century. Subprime mortgages – home loans to borrowers with sketchy credit who put little to no skin in the game. Following the epic housing crash, they disappeared, due to strong, new regulation, and zero demand from investors who were badly burned. Barely a decade later, they’re coming back with a new name — nonprime — and, so far, some new standards.”