Market News
Mortgage Rates March Towards 6%, Reaching Highest Level Since 2008—but There Is Some Good News for Home Buyers – Sep 13th, 2022
By Aarthi Swaminathan It’s getting more expensive to buy a home. Mortgage rates increased again this week, sensing further aggressive rate hikes from the Federal Reserve. The 30-year fixed-rate mortgage averaged 5.89% as of Sept....
Mortgage demand falls even further, as rates shoot back up to July highs – Sep 6th, 2022
By Diana Olick KEY POINTS: The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 5.80% last week from 5.65% the previous week. Mortgage applications to p...
Current Mortgage Rates Jump Higher – August 30th, 2022
Author: Leslie Cook This week's mortgage rates are back on the rise. The 30-year fixed rate mortgage is averaging 5.55%, an increase of 0.42 percentage points from last week, according to Freddie Mac's weekly rate survey. Mortgage rat...
New-Home Sales Plummet as the Housing Recession Gains Steam – Aug 23, 2022
By Clare Trapasso Nobody’s buying newly built homes anymore. Just a few months ago, builders were sitting on lengthy lists of homebuyers waiting to purchase new construction and holding lotteries to announce who would be allowed to ...
Market Statistics: July 2022 – August 16th, 2022
View Homes Sales Report Here View Press Release Here Source: https://www.nvar.com/realtors/news/market-statistics/market-statistics-july-2022
Consumer confidence in the housing market hits the lowest point in over a decade – August 9th, 2022
By Diana Olick KEY POINTS Consumer confidence in the housing market dropped to the lowest level since 2011, as both prospective buyers and sellers have become more pessimistic. Just 17% of those surveyed in July said now is a goo...
Mortgage Rates Fall to 5.3%, Continuing Volatile Stretch – August 2nd, 2022
By Orla McCaffrey Mortgage rates fell after rising for two straight weeks, another indication that recession concerns are impacting the U.S. housing market. The average rate on a 30-year fixed-rate mortgage dropped to 5.3%, ...
The Housing Market Is Correcting—So Why Are Home Prices Still Soaring? – July 25, 2022
By Clare Trapasso Home prices have continued their seemingly inexorable rise, despite America’s housing market purportedly being in the throes of a correction, a slowdown—whatever you want to call it. It’s defying what ma...