A sign in front of a house for sale on July 14, 2022 in San Francisco, California. The number of homes for sale in the US rose 2% in June for the first time since 2019. Justin Sullivan | Getty Images Rising mortgage rates and inflation in the broader economy sharply lowered housing demand in …
Home prices fell at a record pace in June, according to the housing data company Read More »
A sign in front of a house for sale on July 14, 2022 in San Francisco, California. The number of homes for sale in the US rose 2% in June for the first time since 2019. Justin Sullivan | Getty Images Just a day after the Federal Reserve raised its benchmark interest rate, mortgage rates …
Mortgage rates drop sharply after negative GDP report and recent Fed hike Read More »
Mortgage rates fell this week, and continued to be volatile as markets digested the onset of an economic recession that will have repercussions on the US housing sector. The average 30-year mortgage was 5.30% as of Thursday, according to the latest data from Freddie Mac. The rate is down from the previous week, when it …
Mortgage rates drop amid recession fears: Freddie Mac Read More »
1. Credit Cards Kina Betancourt | View Click | Corbis News | Getty Images Since most credit cards have a variable rate, as opposed to a fixed rate, there is a direct connection to the Federal Reserve standard. As the fed funds rate goes up, so does the base rate, and the annual percentage rate …
Here are the best moves for your money after big Fed rate hikes Read More »
The housing slowdown we’ve been anticipating for months has been here. The Big Picture: Home sales are slowing, and some of the hottest “zoomtowns” of the pandemic era — sleepy areas where remote workers have raised property prices — are already seeing prices plummet. why does it matter: The idea of a downturn in the …
Housing market ‘pushed to the limit’ as mortgage rates rise and sales fall Read More »
A “Sale Pending” sign outside a home in Discovery Bay, California, on Thursday, March 31, 2022. David Paul Morris | Bloomberg | Getty Images The National Association of Realtors said Wednesday that contracts signed to purchase existing homes fell 20% in June compared to the same month last year. This is the slowest pace since …
Pending home sales fell 20% in June from a year earlier, as mortgage rates soar Read More »
A leading economist warned in a note to clients on Tuesday that US home prices are on the cusp of a major correction due to a “collapse” of demand among cash-strapped buyers. Ian Shepherdson, chief economist at Pantheon Macroeconomics, points out that single-family home listings are up 40% in the past four months even as …
US home prices fall “significantly” due to “exhausted” demand Read More »
Contractors work on the roof of a home under construction at the Steelpoint subdivision in Sumter, South Carolina, on Tuesday, July 6, 2021. Mika Green | Bloomberg | Getty Images After two years of not being able to build homes fast enough to keep up with demand, home builders in the country are now suffering …
Homebuilders boost incentives because they suddenly struggle to sell their homes Read More »
New York (AFP) – Kyle Tomcack has been searching for a home for his in-laws in the suburbs around Denver, with a price tag of nearly $450,000. Tomcak became frustrated that he lost out to investors who bid $100,000 on the asking price. Then mortgage rates inflated, making the price range out of reach. “All …
Housing market shiver as mortgage rates scare off buyers Read More »
