Why Getting a Mortgage Is Getting Harder for Borderline Borrowers (And Why It May Get Worse)
For the first time since 2012, getting a mortgage today is harder than it was a year ago, largely because lenders are raising the bar on what they think is a minimally acceptable credit score.
As Fed Raises Interest Rates, Homebuyers’ Plans May Bend, But Not Break
Americans are broadly aware of these looming interest rate hikes, and they are certainly giving some would-be home buyers pause. For a few key demographic groups – including current renters and younger would-be buyers – rising interest rates could lead to changes in their home buying plans. But overall, a modest increase in mortgage interest rates is unlikely to completely de-rail most buyers’ plans.
Not a Stretch: Retirement Savings, Living Expenses & Cheap Housing
Looking to stretch your retirement savings? If you're willing to live frugally and in a city with inexpensive housing, you may be able to retire at age 40.
Rising Rents Impact Rental Affordability & Pose Challenges to Homeownership, Too
Comparatively low monthly mortgage payments, coupled with increasingly expensive rents, continue to make homeownership a relative bargain to millennials and other potential home buyers. But there’s a catch.
