The average starter home in West Virginia is only $42,000
While credit card and auto loan rates aren't falling, mortgage rates are.
What's happening: U.S. mortgage giant Fannie Mae said in a recent report it expects average U.S. 30-year fixed-rate mortgages rates will drop to 3.7% in the second half of 2019, lowered from expectations of 3.9% in the second half analysts predicted just a month ago. Mortgage rates averaged 4.4% in Q1 and 4% in Q2.
And while the housing market remains out of reach for many Americans, there are some locations where so-called starter home prices remain significantly below the national average.
- West Virginia has the lowest median starter home price in the country, while Washington, D.C. has the highest.