homebuyers

“I thought, ‘Oh, the down payment and closing costs and those kinds of things are going to be the most expensive part of buying a house, and it ain't,” says Ashley Ayala.

They’re cheaper in the short term, riskier in the long run.

The problem? A combination of interest rates (too high) and housing supply (too low).

Two days before the start of the war with Iran, mortgage rates dipped below 6% for the first time in three and a half years. Rates topped 6.5% this week.

They’re worried about the economy going forward — and may be hoping for even lower interest rates and home prices.

At the age of 40, Brandon Adams bought his first home in Durham, North Carolina. He chose a townhome as he felt it would be an easier transition from being a renter.

One reason? More inventory.

Sales rose nearly 8% compared to a year earlier.

If the housing market is a roller coaster, mortgage rates are at the controls. If they drop, things could speed up.

But the cost of fixing up can be high.