Tag Archives: mortgage rates

Wary sellers back off asking prices in June housing slowdown

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The typical asking price for a home on the market took a modest downward turn in late May and early June, a sign of a softening market. Continue reading →

Making $67K? That’s no longer enough to buy the typical US home

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The second quarter of 2022 saw the affordability of the typical home purchase erode at the fastest pace in at least two decades. Continue reading →

Homebuyers are beginning to seek smaller mortgages as rates rise

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As demand picks up for government loans favored by entry-level buyers, the average purchase mortgage request has shrunk by 10 percent, to $413,500. Continue reading →

Fannie Mae’s latest forecast is a shocker: The Real Word

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This week, Byron Lazine and Nicole White discuss Fannie Mae’s new prediction for existing-home sales, summer marketing and the Marketeer. Continue reading →

Demand rebounds as mortgage rates retreat from 2022 peak

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Purchase mortgage applications are still down 10% from a year ago, with mortgage rates nearly doubling in the last 12 months, according to a survey by the Mortgage Bankers Association. Continue reading →

The housing outlook is good, but affordability is a growing problem

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Harvard’s Joint Center for Housing Studies report, published Wednesday, dives into economic factors shaping current homebuying and renting landscapes. Continue reading →

Home affordability hits 15-year low, passing ‘inflection point’ for buyers

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An increasingly unaffordable home market is affecting homebuyer decisions and altering forecasts for price growth in the months to come, according to a new forecast by Zillow. Continue reading →

Fannie Mae downgrades home sales expectations for 2022 and 2023

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Higher mortgage rates are now “housing market’s primary constraint,” economists at Fannie Mae said in a new forecast predicting home sales will fall 13.5 percent this year. Continue reading →

Fed’s biggest rate hike in 28 years might not further impact mortgages

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After bond market sell-off Friday and Monday, investors take Fed’s 75 basis-point rate hike in stride. “The Fed managed to hint at today’s move,” said the CEO of one capital markets advisory firm. Continue reading →

Mortgage demand picked up last week before latest rate surge

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Homebuyer demand for purchase loans picked up before a bond market sell-off sent mortgage rates soaring past 6 percent, according to the MBA’s Weekly Mortgage Applications Survey. Continue reading →