Newsfeed: Mortgage rates jump back over 7% as inflation fears drive yields higher
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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Newsfeed: US Existing Home Sales Crash To 8 Year Lows
After the collapse in housing starts data (and mortgage applications and homebuyer confidence and homebuilder sentiment), it should be no surprise that analysts expected existing home sales to continue their streak of declines in September.
Newsfeed: Housing ‘brought to its knees by the Federal Reserve,’ expert says
Mortgage applications on Wednesday became the latest sign showing how hard rates are hitting housing. And it could get worse.
Newsfeed: Mortgage refinancing drops to a 22-year low as interest rates surge even higher
Mortgage rates drove even higher last week after the Federal Reserve signaled it would continue its aggressive action to cool inflation. That, and rising uncertainty in the overall housing market, caused mortgage application volume to drop 3.7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
Newsfeed: Mortgage demand falls even further, as rates shoot back up to July highs
Bank of America this week announced that it will be launching a mortgage option for first-time home buyers offering no down payments, no closing costs and no minimum credit score.
Newsfeed: Wells Fargo Cuts Back on Mortgage Lending
The company strived to be No. 1 and once churned out a third of all U.S. mortgages. But it’s cutting ties to outside lenders after years of regulatory struggles.
Newsfeed: New Home Sales & Prices Plunged In June As Pulte Admits Order Cancellations Are Soaring
Amid a plunge in homebuilder confidence, record low affordability, tumbling single-family starts and permits, and multi-decade lows in mortgage applications, it is no surprise that analysts expected a 5.9% MoM plunge in new home sales in June
Newsfeed: Mortgage demand drops to a 22-year low as higher interest rates and inflation crush homebuyers
The pain in the mortgage market is only getting worse as higher interest rates and inflation hammer American consumers.
Newsfeed: The Fed’s housing market ‘reset’ has us in a housing correction. Here’s what to expect next
Through the first 24 months of the pandemic, U.S. home prices soared 38.5%. In some markets, like Phoenix and Dallas, home prices grew by more than 50%.
Newsfeed: Here’s how far house prices are set to fall as rates go up, according to this forecasting firm
Stocks are veering south post holiday, following earlier optimism over reports President Joe Biden may lower tariffs on some Chinese goods to help ease the inflation sting.