Anna Bahney

Homeownership gap between Black and White owners is worse now than a decade ago

Mortgage rates continued to climb this week amid a stronger-than-expected economy. The 30-year fixed-rate mortgage averaged 7.79% in the week ending October 26, up from 7.63% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 7.08%. “For the seventh week in a row, mortgage rates continued to climb toward eight percent, resulting in the longest consecutive rise since the Spring of 2022,” said Sam Khater, Freddie Mac’s chief economist. Rat…

US pending home sales ticked up in September despite mortgage rates surging over 7%. In a surprise move, pending home sales rose 1.1% in September from August, according to a report released Thursday by the National Association of Realtors. Pending sales were down 11% from a year ago. The Northeast, Midwest and South saw monthly gains in transactions while the West experienced a loss. All four US regions had year-over-year declines in transactions. Pending sales had seen slight increases in Jun…

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While more Americans own homes today than a decade ago and the rate is increasing across all races, the gap between Black homeownership rates and that of any other race or ethnic group is even larger now than in 2011, according to a new analysis by the National Association of Realtors.

While more Americans own homes today than a decade ago and the rate is increasing across all races, the gap between Black homeownership rates and that of any other race or ethnic group is even larger now than in 2011, according to a new analysis by the National Association of Realtors.

Pending home sales crushed expectations in January, when mortgage rates dropped from recent highs of more than 7% and home buyers jumped at the opportunity.