Mortgage rates decrease, yet affordability crisis remains

Mortgage rates decreased for the second consecutive week. However, the 30-year fixed-rate mortgage still hovers just above 7%. Yahoo Finance'sEven though rates have been falling for two weeks straight, the number of applications on the market has remained largely unchanged, signaling a continuing affordability crisis facing homebuyers, Chen says.

So definitely we are seeing a little bit more activity and a little bit more drop in the mortgage rate, but there just hasn't been enough of it to entice more buyers to come back to the market. And so with that in mind, Rebecca and with also the caveat that this is largely hinging on the Fed and what they do in the coming months, when could we see rates coming down?Uh to be honest, nobody knows when mortgage rate is coming down.

What this means is we will see some kind of rate cut later on in the year and that will bring mortgage rate down for home buyers. We still see a huge shortage of inventory supply on the housing market and inventory shortage is what is driving prices the most right now.Warren Buffett shares how he would earn a whopping 50% per year if he had less than $1 million in 2024Canadians can use this investing strategy to boost retirement income. The post CPP and OAS Not Enough? How to Earn $4,750 Per Year in Tax-Free Passive Income appeared first on The Motley Fool Canada.

Robert McLister: Buyers are sitting on their wallets and it looks like rate cuts are the only thing that will change that -- China sold a record amount of Treasury and US agency bonds in the first quarter, highlighting the Asian nation’s move to diversify away from American assets as trade tensions persist.

Source: News Formal (newsformal.com)

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