The numbers: Mortgage rates remain above 7%, slowing demand for refinancing and dragging overall mortgage demand down for the seventh week in a row. Mortgage applications fell 0.1% this week, Read more
Tag: housingbubble
Mortgage bankers expect rates to drop to 5.4% in 2023. What will home prices do?
NASHVILLE, Tenn. — High mortgage rates and recession fears are hurting home prices, so expect growth to be flat this year, one expert says. “Our forecast is for home-price growth Read more
Mortgage applications fall as rates rise to the highest level in 16 years
The numbers: Mortgage applications fell 2% this week, as rates continue to inch higher, adding hundreds of dollars in costs to potential homebuyers. Rates are a hop and a skip Read more
U.S. will turn into a buyers’ housing marke in 2023, most experts say. Here’s where you’ll see the biggest declines.
Frustrated by the housing market? Housing experts say they’re expecting the market to tip back into buyers’ court by 2023, according to a new report. Mortgage rates are approaching 7%, Read more
U.S. new home sales surge 28.8% in August
The numbers: U.S. new home sales surged 28.8% to a seasonally-adjusted annual rate of 685,000 in August, from a revised 532,000 in the prior month, the Commerce Department reported Tuesday. Read more
U.S. existing-home sales fall for the seventh straight month in August
The numbers: U.S. existing-home sales fell 0.4% to a seasonally adjusted annual rate of 4.8 million in August, the National Association of Realtors said Wednesday. This is the seventh straight Read more
Mortgage rates hit 6% for the first time since 2008, while applications fall to lowest level since 1999
The numbers: A surge in mortgage rates to 6% is giving home shoppers chills, pushing them to wait to refinance or buy a home. With rates doubling from where they Read more