Rocket rolls out temporary rate buydown for lower-income households

Detroit-headquartered Rocket Mortgage on Monday rolled out a lender-paid 2-1 temporary buydown program for lower-income households.The program, dubbed “Welcome Home RateBreak,” is available to buyers purchasing a single-family home and earning 80% or less of their area median income (AMI). Rocket es

Millennials want more space in the rental market

As the housing market continues to be marked by high mortgage rates and record-breaking home prices across many U.S. regions, renting continues to play a pivotal role for millions of people. Currently, more than 44 million U.S. households rent their homes, a figure that is expected to continue to ri

Where New Yorkers Can Afford To Rent a Home—Based On How Much They Earn

Getty ImagesLiving in New York City is an extraordinary experience, but it takes more than an ordinary income to afford to rent a roof over your head.The median asking rent in the city for July was $3,421, according to a new Realtor.com® report.At a time when rents in the U.S. have been declining, r

What Mortgage Rate Are You Waiting For?

You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years.