After the 2008 financial crisis, the housing market recovered fairly well, with mortgage rates remaining below 5% and competitive housing prices. However, the post-COVID housing market faces instability and long-lasting affordability concerns,

28/36 rule: Housing expenses (including mortgage payments, utilities, HOA fees and homeowners insurance) should be no more than 28% of your gross income and no more than 36% on debts overall. 30% rule: Keep monthly mortgage payments and other housing costs to no more than 30% of your take-home pay.

Most mortgage market observers began the year believing rates were more likely to rise than fall, but that hasn’t panned out. Rates ticked up slightly in early January but have fallen steadily since then in tandem with warning signs about the economy.

Total mortgage application volume jumped 20.4% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

Rates averaged 6.88% a year ago. Mortgage rates have now declined for seven consecutive weeks, returning to levels last seen in December after peaking at just above 7% in the middle of last month. “As the spring homebuying season gets underway,

More homes are expected to come onto the market as the spring homebuying season gets underway. Continued improvements in mortgage rates, which have declined for seven straight weeks, could lead to

U.S. mortgage rates dropped this week the largest percentage in six months. That's the word from Freddie Mac, which released its latest data. Freddie Mac reports the 30-year fixed mortgage rate averaged 6.

Mortgage rates have declined for seven consecutive weeks in a welcome shift for a housing market that has struggled with affordability challenges since the post