The numbers: The housing sector continues to face headwinds. The 30-year fixed-rate mortgage averaged 7.08% as of Nov. 10, according to data released by Freddie Mac FMCC, +0.03% on Thursday. Read more
Tag: fanniemae
Mortgage rates surge to 6.94%, a 20-year high, leading to steep decline in home sales
The numbers: Mortgage rates have risen to the highest level in 20 years. The 30-year fixed-rate mortgage averaged 6.94% as of October 20, according to data released by Freddie Mac Read more
Mortgage rates surge to the highest level since April 2002. ‘The next several months will undoubtedly be important for the economy and the housing market.’
The numbers: U.S. mortgage rates have resumed their journey upwards, hitting a 20-year high. The 30-year fixed-rate mortgage averaged 6.92% as of October 13, according to data released by Freddie Read more
These 5 charts show the depth and seriousness of the U.S. housing downturn. Expect a ‘further weakening in demand.’
The U.S. housing market has been pushed into a recession, helped by pandemic-era prices and mortgage rates now surpassing 7%. “The headwind from higher mortgage rates has already been visible Read more
Fannie Mae launches pilot program to include on-time rent payments in credit reports. Here’s why this could be a game changer for renters.
When tenants pay their rent on time, it largely fails to improve their credit scores, while homeowners reap the benefits of better credit by making their mortgage payments. That lopsided Read more
American attitudes about whether it’s a good time to buy a home just hit the lowest level in a decade, another sign of a slowdown in the housing market
Both prospective home buyers and sellers are backing off from the U.S. housing market, a new survey shows. Their anxiety over higher mortgage rates and a softening market was registered Read more