Bigger isn’t always better! The National Association of Home Builders recently reported that the average square footage of new construction homes is actually shrinking, reversing a trend that we’ve been seeing for decades. Brand new homes are now about 3% smaller than this time last year. Additionally, townhomes are making up a larger share of…
Mortgage rates inch higher this week after Federal Reserve Chair Janet Yellen announced that U.S. interest rates may rise later this year. Currently, the average 30-year fixed rate loan stands at 3.46% according to Freddie Mac, up from last week’s average of 3.43%. Yellen cited the strong labor market and promising economic outlook and inflation as…