Discover Real Estate
- Current Mortgage Rates Drop Slightly
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- Metros with the most mortgage-burdened homeowners
![Metros with the most mortgage-burdened homeowners Roughly half of all Americans agree a lack of affordable housing in their city is a major problem, according to a 2021 Pew Research Center survey. Pew also found a proportion of Americans concerned about dwindling housing affordability has grown in recent years—and for good reason. Knowing this, Stacker analyzed U.S Census Bureau data to find where homeowners are spending the largest share of their income on mortgage payments. To be included, each metropolitan area had to have at least 100,000 mortgage holders in 2020, the latest data available. Residents of some of the most populous metro areas in the U.S. are feeling the squeeze in their mortgage payments as home values continue to grow nationwide. For decades experts have used the same tried and true measure for housing affordability—when a person keeps their housing expenses within 30% of their annual income, it allows for spending on life’s other necessities, such as food, transportation, and health care. Analyzing how many homeowners are contributing more than 30% of their income to mortgage payments in any given metro can paint a picture of how financially stretched thin a population is. Experts call these homeowners “mortgage-burdened.” Almost 49 million Americans have mortgages, and around 27% of them are considered mortgage-burdened, according to the most recent Census data available. Stacker found metro areas in California ultimately topped the list of places with the most mortgage-burdened homeowners. The Golden State has become notorious for an affordable housing shortage, though metros in several other states also rose to the top of the rankings. Continue reading to see if your metro made the list. You may also like: What the 50 biggest cities in America looked like 50 years ago]()
- 'Shock to the System': Higher Mortgage Rates Slam the Brakes on the...
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- Current Mortgage Rates Tick Higher
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- Freddie Mac’s 30-Year Mortgage Rate Edges Closer to 6%
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- How to Improve Your Credit Score to Land a Mortgage for Your First Home
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Buying a Home
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You Won't Believe What These Buyers Did to Stand Out—and Get the HouseToo many home buyers, too few houses—in a seller's market, buyers have to think outside the box to get the deal.By Margaret Heidenry
Market
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WASHINGTON (AP) — Average long-term U.S. mortgage rates eased back this week after shooting up...
![A sign is displayed outside a home in Wheeling, Ill., Thursday, May 5, 2022. Average long-term U.S. mortgage rates made their biggest one-week jump in 35 years, one day after the Federal Reserve raised its key rate by three-quarters of a point in bid to tame high inflation. Mortgage buyer Freddie Mac reported Thursday, June 16, that the 30-year rate climbed from 5.23% last week to 5.78% this week, the highest its been since November of 2008 during the housing crisis.]()
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WASHINGTON (AP) — Average long-term U.S. mortgage rates inched up this week following last week's...
![FILE - A home with a "Sold" sign is shown, Sunday, May 2, 2021, in Surfside, Fla. Average long-term U.S. mortgage rates inched up this week following last week’s mammoth jump, the biggest in 35 years. Mortgage buyer Freddie Mac reported Thursday, June 23, 2022, that the 30-year rate ticked up to 5.81% this week, from last week’s 5.78%.]()
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JPMorgan Chase & Co. is laying off hundreds of home-lending employees and reassigning...
![The JPMorgan Chase & Co. logo.]()
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WASHINGTON (AP) — Average long-term U.S. mortgage rates had their biggest one-week jump in 35...
![A sign is displayed outside a home in Wheeling, Ill., Thursday, May 5, 2022. Average long-term U.S. mortgage rates made their biggest one-week jump in 35 years, one day after the Federal Reserve raised its key rate by three-quarters of a point in bid to tame high inflation. Mortgage buyer Freddie Mac reported Thursday, June 16, that the 30-year rate climbed from 5.23% last week to 5.78% this week, the highest its been since November of 2008 during the housing crisis.]()
Home Improvement
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The latest installment of HGTV's "Battle on the Beach" shows off three beautiful but completely...
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The teams on HGTV's "Battle on the Beach" renovate three gorgeous living rooms in hopes of...
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Aphids are one of the most common pests found in gardens, and while they’re tiny, they can do a...
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Cleaning can be tricky if you're not hip to professional cleaners' sneakiest tactics. Here are...
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