Here’s how much equity U.S. homeowners have lost since May
KEY POINTS Homeowner equity peaked at $11.7 trillion collectively last May, after home prices jumped 45% since the start of the pandemic. In September, home prices fell on a month-to-month basis for the third month in a row. Since July, the median home price has dropped by $11,560. The historic run-...
U.S. hiring cooled slightly in October. That could help to ease inflation
The U.S. job market is still tight, but perhaps not quite as tight as it has been. A report from the Labor Department Friday shows that employers added 261,000 jobs in October, compared to a revised 315,000 jobs the month before. Analysts say a decline in job growth is not surprising, since employer...
The Fed’s housing market ‘reset’ isn’t letting up anytime soon – 5 things to know heading into 2023
Fed Chair Jerome Powell took the podium on Wednesday with a hawkish message: Failing to tackle inflation, and allowing it to become entrenched, is far riskier than over tightening. “We have a ways to go, we have ground to cover with interest rates before we get to that level of interest rates tha...
Today’s mortgage and refinance rates: October 31, 2022 | Rates up over two percentage points since August
Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page. Mortgage rates have risen rapidly ove...
Is the US headed toward a housing crash? Experts say it’s not 2008.
Sharply rising mortgage rates, a steep decline in home sales and a record price slowdown have raised concerns that the housing market could crash. The mortgage rate reached over 7 percent this week, the first time in almost two decades that rates climbed that high. U.S. home prices saw a record slow...