US Mortgage Rates Rise for Seventh Week to Highest in 16 Years
Fixed 30-year rate jumps to 6.75% in last week of September MBA index of applications to buy, refinance a home tumbles US mortgage rates jumped to a 16-year high of 6.75%, marking the seventh-straight weekly increase and spurring the worst slump in home loan applications since the depths of the pand...
2022 fourth-quarter housing trends: Prices down, rates up
With mortgage rates recently crossing the 6 percent threshold, home sales cooling significantly and fears of a recession looming across the national landscape, the housing market appears to be firmly in “correction” territory. That’s a quick assessment of the real estate climate entering th...
Mortgage Rates Rise to 6.7%, Highest Since 2007
Rates are more than double where they were a year ago Mortgage rates rose to their highest level in more than 15 years, a new high since the 2008-09 financial crisis that adds pressure to the already cooling U.S. housing market. The average rate on a 30-year fixed mortgage climbed to 6.7%, according...
‘It hasn’t been normal’: As mortgage rates rise for a fifth week, it’s time for homebuyers to abandon their old assumptions
Today’s tougher environment isn’t unusual and could be just the ‘remedy’ the doctor ordered. U.S. mortgage rates surged by over a quarter-point this week, as policymakers continue to battle high inflation by slowing the economy. The rate on the popular 30-year fixed mortgage is at a nearly...
These 210 housing markets are now vulnerable to 20%-25% home price declines, finds latest Moody’s downgrade
The Pandemic Housing Boom is looking more and more like the Pandemic Housing Bubble. Favorable millennial demographics. Tight housing inventory. Low unemployment. That’s why housing bulls said the Pandemic Housing Boom had more room to run. Moody’s Analytics chief economist Mark Zandi, of cou...