Articles by Alcynna Lloyd

Poor credit scores keep Gen Xers from entering the housing market

On average, Gen Xers owe more than $20,000 in student loan debt
A recent report from LendingTree reveals that although Gen Xers are now in their prime earning years, many are refraining from homeownership due to substantial debt. According to LendingTree’s analysis, 28% of homeowners owe a median of $28,557 in student debt, whereas 27% of renters have a median of $28,203.
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Freddie Mac: Mortgage rates hold steady despite mounting economic tension

The 30-year fixed-rate mortgage averaged 4.07% this week
Despite mounting global economic tension, mortgage interest rates are holding steady, according to the latest Freddie Mac Primary Mortgage Market Survey. However, Freddie Mac Chief Economist Sam Khater said modestly weaker consumer spending and manufacturing data, along with continued jitters around trade policy, caused interest rates to decline throughout the yield curve.
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After months of setbacks, housing starts rise nearly 6%

Single-family construction up 6.2% from previous month
Housing starts rose nearly 6% in April, according to the latest report from the U.S. Dept. of Housing and Urban Development and the U.S. Dept. of Commerce. Senior Economist George Ratiu said from rising inventory to lower mortgage rates and higher consumer confidence, new housing construction mirrored improvements in the housing market.
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Homebuilders are becoming more confident with the housing market

But labor and material cost concerns still weigh heavy
Despite affordability and labor constraints, home builder confidence rose to 66 points in May, according to the National Association of Home Builders/Wells Fargo Housing Market Index. NAHB Chief Economist Robert Dietz said although the market is improving, builders continue to deal with factors that are holding back supply and harming affordability.
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