January 16, 2024
“…The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.81% from 6.76%, with points remaining unchanged at 0.61 (including the origination fee) for loans with a 20% down payment. That rate… Continue Reading…
January 10, 2024
“…Only 15.5% of homes for sale last year were affordable for the typical US household, the lowest level since Redfin began tracking the data in 2013. That’s down from the typical level of 40% seen before the pandemic homebuying frenzy began and… Continue Reading…
January 4, 2024
“Billions of dollars in loans on office buildings that are about to come due could play havoc with the US economy after interest rates soared. About $117 billion worth is expected to be due this year and needs to be repaid or… Continue Reading…
January 2, 2024
“…The government-sponsored mortgage finance company forecasted total home sales to slump to just 4.8 million this year, marking the slowest sales environment since 2011. That figure will only improve slightly in 2024, with total home sales expected to hit 4.9… Continue Reading…
December 19, 2023
“The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 7.07% from 7.17%, with points falling to 0.59 from 0.60 (including the origination fee) for loans with a 20% down payment, according… Continue Reading…
December 18, 2023
“Mortgage rates continued to drop last week after hitting a 23-year high in October. Between Dec. 1 and 7, rates for 30-year fixed-rate mortgages fell from an average of 7.05% to 6.95%, according to mortgage finance agency Freddie Mac. This marks the seventh straight… Continue Reading…
December 8, 2023
“After surging over 8% in October, mortgage rates are falling back toward 7% again, and that is jump-starting the refinance market… As a result, applications to refinance a home loan increased 14% from the previous week and were 10% higher… Continue Reading…
November 29, 2023
“…Home prices in the 20 major U.S. metro markets were up 3.9% in the past 12 months ending in September. The August report saw a 2.5% rise in home prices year-over-year. A broader measure of home prices, the national index,… Continue Reading…
November 21, 2023
“…It was the slowest sales pace since August 2010. Analysts were expecting a smaller drop, to 3.9 million units. Sales were down 14.6% year-over-year… Tight supply kept pressure under prices. The median price of an existing home sold in October… Continue Reading…
Recent Comments