Homebuyers with good credit scores will soon encounter a costly surprise: a new federal rule forcing them to pay higher mortgage rates and fees to subsidize people with riskier credit ratings who are also in the market to buy houses.
Today’s homebuyers are exceptionally sensitive to mortgage rates with house prices so high — and they’ve found their tipping point.
There’s no sign of a slowdown in central bank gold buying. In February, central bank gold reserves rose by another 52 tons …
A new report from real estate brokerage Redfin indicates that, despite elevated mortgage rates, homebuyers continue to leave expensive metro areas like New York and Seattle for more affordable housing options in cities like Miami and Phoenix.
On Friday, residential real estate brokerage firm Redfin released new data on home prices, showing that prices fell 0.6 percent in February, year over year. According to Redfin’s numbers, this was the first time that home prices actually fell since 2012.
Newsfeed: Real Estate Markets Are Addicted to Easy Money Read More »
Despite a recent softening in the US housing market, a combination of rising borrowing costs and still-high prices have put prospective first-time homebuyers in a serious bind.
Newsfeed: First-Time Homebuyers Are Absolutely Screwed Right Now Read More »
The average rate on the 30-year fixed mortgage jumped back over 7% on Thursday, rising to 7.1%, according to Mortgage News Daily.
Newsfeed: Mortgage rates jump back over 7% as inflation fears drive yields higher Read More »
Before we dig into this morning’s new home sales data, we note that both homebuilders and homebuyers have seen a rebound in confidence this year (even though the latter remains near extreme lows as one would expect)…
Newsfeed: US New Home Sales Unexpectedly Soared In January As Prices Plunge Read More »
Lower mortgage rates are pulling some current homeowners back to the refinance market, but not enough to offset the drop in demand from homebuyers.
Newsfeed: Mortgage demand falls again even as rates sink further Read More »
Home sales declined for the ninth straight month in October, as higher interest rates and surging inflation kept buyers on the sidelines. Sales of previously owned homes dropped 5.9% from September to October, according to the National Association of Realtors. That is the slowest pace since December 2011, with the exception of a very brief drop at the beginning of the Covid-19 pandemic.