Last week's economic news included readings from the National Association of Home Builders on housing markets and Commerce Department readings on housing starts and building permits issued. Weekly reports on mortgage rates and jobless claims were also published.
Last week's economic reporting included readings on job openings, inflation, and consumer sentiment. Weekly reports on mortgage rates and jobless claims were also released.
Last week's economic reporting included readings on construction spending and public and private-sector employment data. Weekly reports on mortgage rates and jobless claims were also released.
Last week's economic reports included readings on home price growth, new and pending home sales, and inflation. Weekly readings on mortgage rates and jobless claims were also released.
The housing market is extremely competitive right now because mortgage rates are still near record lows. While mortgage rates are rising this year, the rates are still attractive to many individuals and families who are looking to buy a home. At the same time, when mortgage rates change, families need to reassess their budgets. A change in mortgage rates will impact the monthly mortgage payment, so families need to know what they can afford.
Most of the focus on stimulus checks has been on "when" they will arrive, but if you are in the market for a new home (and mortgage) you should know how that payment will impact your financing. Part of the latest Covid 19 relief package includes payments and protections for existing borrowers and renters, but what about those who are looking to buy? According to the IRS, here are a few things to know about how your stimulus impacts your upcoming mortgage.