Real Estate News 05/01/2025

Today’s News Synopsis:

In The News:

The Mortgage Point – “VA Terminates Foreclosure Assistance Program” (05-01-25)

“The VA is ending its pandemic-era mortgage relief program, leaving thousands of struggling veterans at risk of foreclosure. The move ends critical support many relied on to stay in their homes.“

CNBC – “Homebuyer mortgage demand drops further, as economic uncertainty roils the housing market“ (04-30-2025)

“The average interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 6.89% from 6.90%

Yahoo Finance –  “Mortgage rates drop as bond market stabilizes“ (05-01-25)

“The average 30-year mortgage rate was 6.76% this week through Wednesday, down from 6.81% a week earlier, according to Freddie Mac data. 15-year mortgage rates averaged 5.92%, compared with 5.94% last week.”

Redfin – “Monthly Mortgage Payments Are Falling in 12 of the 50 Most Populous U.S. Metros, Mostly in the Bay Area, Florida and Texas” (04-30-25)

“Monthly mortgage payments are declining in some parts of the country as homebuying demand slows amid widespread economic uncertainty. The silver lining for buyers in those places: They have some negotiating power. ”

NAR –  “Median Home Prices and Mortgage Payments by County“ (04-30-25)

“The interactive map above provides a visual representation of the median home prices for each county. Scroll over your desired regions to understand the range of median home values.”