Sales of previously owned homes declined 2.4% in March compared with February, according to a monthly report from the National Association of Realtors.
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Existing home sales in February jumped 14.5% to an annualized rate of 4.58 million, the largest monthly percentage increase since July 2020 and ending a 12-month slide, data from the National Association of Realtors out Tuesday showed.
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The average rate on the popular 30-year fixed mortgage dropped to 6.57% on Monday, according to Mortgage News Daily. That’s down from a rate of 6.76% on Friday and a recent high of 7.05% last Wednesday.
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The average rate on the 30-year fixed mortgage jumped back over 7% on Thursday, rising to 7.1%, according to Mortgage News Daily.
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Builder sentiment in the market for single-family homes fell into negative territory in August, as builders and buyers struggle with higher costs.
Newsfeed: Homebuilders say U.S. is in a ‘housing recession’ as sentiment turns negative Read More »
Consumer confidence in the housing market dropped to the lowest level since 2011, as both prospective buyers and sellers have become more pessimistic, according to a monthly survey released Monday by Fannie Mae.