Market News
Mortgage refinance demand jumps 18% as interest rates drop for the fifth straight week – Feb 9, 2023
By Diana Olick KEY POINTS Refinance demand surged 18% week to week but was still 75% lower than the same week one year ago. Mortgage applications to purchase a home rose 3% for the week and were 37% lower than the same week o...
Mortgage Demand Falls 9% Despite Rates Falling for Fourth Week in a Row – Feb 1st, 2023
By Aarthi Swaminathan The numbers: The housing market is not out of the woods yet, as mortgage demand fell again despite an improvement in rates. Despite mortgage rates dropping for the fourth consecutive week, mortgage demand fell 9...
U.S. Housing Starts Fell in 2022, as the Nation Builds Fewer Homes – Jan 25th, 2023
By Aarthi Swaminathan The numbers: Construction on new U.S. homes fell a seasonally adjusted 1.4% in December to 1.38 million, the Commerce Department said Thursday. The drop in construction on homes followed the decline in November,...
Current Mortgage Rates Retreat Once Again – Jan 17th, 2023
By: Leslie Cook Mortgage rates took a step back this week. The average rate on a 30-year fixed-rate loan decreased to 6.33% for the week ending January 12, according to Freddie Mac. That's a change of 0.15 percentage points from last ...
Mortgage Rates Give Homebuyers Some Holiday Relief, Falling for Sixth Week in a Row – Jan 11, 2023
By Aarthi Swaminathan The numbers: Mortgage rates continued to inch downwards, providing some relief to prospective homeowners. The 30-year fixed-rate mortgage averaged 6.27% as of December 22, according to data released...
Current Mortgage Rates End The Year Higher – Jan 3rd, 2023
By: Leslie Cook Mortgage rates increased for the first time in more than a month. The average rate on a 30-year fixed-rate mortgage increased to 6.42%, a change of 0.15 percentage points from a week ago, according to Freddie Mac. The 15...
Will High Inflation and Recession Fears Lead to a Drop in Remodeling? – Dec 27th, 2022
By Clare Trapasso During the height of COVID-19, it seemed like everyone knew someone who had bought a home and then remodeled the kitchen, created a home office or gym, or turned the scraggly backyard into an outdoor oasis. But as th...
Is the Housing Market in a Bubble? How Today Compares With the Great Recession – Dec 20, 2022
By Clare Trapasso It’s like déjà vu in the housing market. Just a few months ago, home prices hit record heights, investors were gobbling up scores of homes, and buyers were racing to purchase whatever they could before prices ros...