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
Tag: mortgagerates
For-sale homes are spending more time on the market. That may be good news for home buyers.
It’s taking more time for homeowners to sell their homes. And that’s potentially good news for homebuyers, who now have more room to negotiate. Mortgage rates are soaring, with the Read more
Why the housing market should brace for double-digit mortgage rates in 2023
Even if Federal Reserve Chairman Jerome Powell and his cohorts stopped hiking policy rates soon, the 30-year fixed mortgage rate still would climb to 10%, according to Christopher Whalen, chairman Read more
Home builders sentiment index falls for record tenth month in a row in October. Home builders say the ‘situation is unhealthy and unsustainable.’
The numbers: The National Association of Home Builders’ (NAHB) monthly confidence fell 8 points to 38 in October, the trade group said on Tuesday. It’s the tenth month in a Read more
Builder sentiment drops to the lowest level since 2012. Home builders say the ‘situation is unhealthy and unsustainable.’
The numbers: The National Association of Home Builders’ (NAHB) monthly confidence fell 8 points to 38 in October, the trade group said on Tuesday. It’s the tenth month in a Read more
Builder sentiment drops to the lowest level since 2012. Home builders say the ‘situation is unhealthy and unsustainable.’
The numbers: The National Association of Home Builders’ (NAHB) monthly confidence fell 8 points to 38 in October, the trade group said on Tuesday. It’s the tenth month in a 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
One chart reveals how sellers are adjusting to higher mortgage rates by slashing home prices
Here’s a chart that speaks a thousand words about the state of the real-estate market right now. The chart above, part of a new report by real-estate brokerage Redfin RDFN, Read more
Short-term rentals ‘gobbled up’ homes, worsening housing supply, Philly Fed president says. But Airbnb pushes back, saying it’s too easy an explanation.
Short-term rentals are partly to blame for the shortage of homes on the market, a Federal Reserve president said. In a blog post about the soaring cost of housing in 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