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: mortgagenews
‘The housing market will get smaller in 2023’: Redfin lays off 13% of staff
Redfin RDFN, -8.10% is laying off staff again, as the housing market continues to hurt from high mortgage rates and low demand. Redfin CEO Glenn Kelman said on Wednesday that Read more
Mortgage refinancing demand falls to lowest level since 2000
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
Home builders struggle to find buyers as cancellations by developers rise: ‘The build-for-rent market is going to become increasingly important’
It’s a tough time to be selling a home. That’s also true for home builders, who are seeing canceled orders and dwindling interest among would-be buyers. “Mortgage applications have been Read more
Home-buying sentiment hits all-time low, as mortgage rates surpass 7%, Fannie Mae says
Home shoppers have been so put off by elevated home prices and mortgage rates that buying sentiment has hit an all-time low, Fannie Mae FNMA, +1.03% said. The agency on Read more
‘Incentives come in many forms’: Here are ways to lower your mortgage rate, according to this mortgage company CEO
Mortgage rates are double where they were a year ago, making home buying a much more costly endeavor. Home sellers are trying to help them out. Buyers are not feeling Read more
People are keen to move out of big cities due to inflation. They are eyeing these sunny locations for lower-cost living.
Americans are fed up with the high cost of living in big cities, and they’re planning on moving to sunny, more affordable locations. That’s according to a new report by 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