Market News
U.S. Existing Home Sales Retreat for a Record Ninth Straight Month in October – Nov 29th, 2022
By Greg Robb The numbers: Existing-home sales fell 5.9% to a seasonally adjusted annual rate of 4.43 million in October, the National Association of Realtors said Friday. Compared with October 2021, home sales were down 28.4%. Economis...
Housing Starts Fall Again as High Mortgage Rates Scare Off U.S. Home Buyers – Nov 22nd, 2022
By Jeffry Bartash The numbers: Construction on new houses fell 4.2% in October as high mortgage rates put off buyers and forced builders to scale back, a situation that’s likely to continue through 2023. U.S. housing starts slowed ...
Just How Low Will Home Prices Go This Year? Our Chief Economist Offers a Bold Prediction – Nov 15th, 2022
By Margaret Heidenry All eyes have been glued to mortgage rates lately as those all-important fees continue their seemingly inexorable upward march. While average rates for a 30-year fixed-rate mortgage dipped to 6.95% last week, that...
U.S. Mortgage Rates Dip Under Seven Percent in Early November – Nov 8th, 2022
By David Barley Based on Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 6.95 percent in the United States. "Mortgage rates continue to hover around seven percent, as the dynamics of a onc...
Here’s Just How Difficult It’s Getting for Home Buyers – Nov 1st, 2022
By: Melissa Dittmann Tracey Mortgage rates, now at a 20-year high, combined with inflation and stock market volatility are causing housing markets to soften quickly. The next several months will be a critical test for the economy, experts sa...
Mortgage Bankers Expect Rates To Drop to 5.4% in 2023. Here’s What That Means for Home Prices. – Oct 24th, 2022
By Aarthi Swaminathan 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 moderation to continue,” Joel...
Do ‘Flashing Red’ Signs Mean That a U.S. Housing Bubble Will Soon Burst? – Oct 18th, 2022
By Clare Trapasso Is America in a housing bubble—and is it getting ready to burst? That fraught question has become top of mind for buyers, sellers, and long-term homeowners alike. Many first-time buyers are coming to beli...
Mortgage Applications Fall to the Lowest Pace in 25 Years, as Interest Rates Nearing 7% Spook Buyers – Oct 11
By Aarthi Swaminathan The numbers: A surge in mortgage rates, and evacuations due to Hurricane Ian, both seriously dampened demand for home purchases and refinances. Rates are inching even closer to 7%, and buyers have pulled back. T...