Zillow

Mortgage rates jumped to 7.33% in October from 6.86% the month before. That drove the biggest one-month rise in the typical monthly payment in four years, even though home values barely moved.

The silver lining, per Zillow chief economist Mischa Fisher: inventory keeps building, and there are deals to be had for buyers who can make the math work. If rates ease, there’s real upside for sales heading into next year.

Full report: zillow.com/research/octob…

For a lot of people, the down payment is the thing standing between them and a home.

Saving 10% down on a typical U.S. home takes about 4.2 years. With 3.5% covered by down payment assistance, that drops to 2.7.

In some of the priciest metros, the difference is even bigger:
• Los Angeles: 9.1 years down to 5.9
• San Diego: 7.9 years down to 5.1
• San Francisco: 7.7 years down to 5

That’s the gap Zillow Home Loans just launched down payment assistance to help close. Eligible FHA buyers can get up to 3.5% of the purchase price as a no-interest second loan, enough to cover the full FHA minimum down payment.

Full analysis: lnkd.in/gPFRwxZi

$1,380 a month.

That’s what the typical homeowner pays for maintenance, property taxes and insurance, on top of the mortgage. New research from Zillow and Thumbtack finds the annual total is $16,566, up nearly 32% in five years.

Insurance is the fastest-rising cost. In Houston, Phoenix, Denver and Nashville, homeowners now pay more for it than for property taxes.

The pace is cooling, with costs up just 3% this year. But for buyers, these bills are a second affordability hurdle worth planning for before making an offer.

At Zillow, we believe in transparency, and that means showing the full picture of what it takes to own a home, not just the listing price. The more buyers know up front, the more confident their decision can be.

What does $100K rent you?

A $100K income supports a $2,500 monthly rental budget, enough to access 77% of rentals nationwide and nearly 20% more living space than the typical renter.

But that budget looks very different depending on where you live. In Memphis, $2,500 can rent a median 2,119-square-foot, four-bedroom home. In San Jose, that same budget gets a 650-square-foot, one-bedroom apartment.

The takeaway: The places where $100K goes furthest are the places that have built enough housing to meet demand. Where supply has lagged, even high earners can feel the squeeze.

Zillow's September Market Report shows an early winter in the housing market. Newly pending sales, a leading indicator of future closed sales, are down 8.5% from a year ago. But there's a silver lining: buyers have more options than they've had in years.

- Inventory: up 2.5% from last year, the 34th straight month of gains
- Typical home values: up 1% over the past year, holding steady

Searches for "can't sell house" hit an all-time high last month, a sign sellers are struggling to find a buyer at their asking price. With more homes to choose from, buyers who can make the finances work have room to take their time and find the right fit.

Tip for sellers: Price your home right from day one to help it stand out and attract buyers faster.