U.S. mortgage rates jumped more than half a percentage point this week, an increase not seen in decades and one sure to price even more Americans out of the housing market.
A little over a month ago, when mortgage rates were still “only” 5% we shared several devastating anecdotes from real estate agents and industry execs who validated our worst fears: US housing was imploding… fast, with subsequent observations only confirming this dire conclusion about the state of the most popular asset class among the US middle class.
Kim Drotar is a public school teacher who rents an apartment in St Louis. But she doesn’t have the best neighbors.
Newsfeed: Rents across U.S. rise above $2,000 a month for the first time ever Read More »
Black Knight publishes a monthly Mortgage Monitor report that contains interesting information on the mortgage market and housing.
Mortgage costs are the most expensive in years as the Federal Reserve embarks on aggressive quantitative tightening, implying that the souring macroeconomic climate may not support extraordinary home price growth for much longer as the national inventory of homes increases for the first time in years, according to Realtor.com data.
Newsfeed: “Major Turning Point” – US Housing Inventory Rises For First Time Since 2019 Read More »
With home sales slumping across the nation (while mean home prices are surging relative to median, signaling higher-end homes dominating the sales), this morning’s Case-Shiller (newly minted S&P Global) home price index data exploded higher.
Newsfeed: Caser-Shiller Home Prices Soared By Record In March, But… Read More »
Housing prices could drop by as much as 10% in many U.S. cities, per Fortune, referencing a new report from Moody’s Analytics.
Newsfeed: Housing Prices Are Expected to Drop in These Cities — Is Yours One of Them? Read More »
America’s red hot housing market is cooling down fast sparking fears of a housing bust and crippling recession as nearly half of home sale prices are slashed in some areas.
US mortgage rates posted the biggest drop in more than two years, offering homebuyers a slight reprieve from this year’s massive surge in borrowing costs.
Newsfeed: Mortgage Rates Fall to 5.1% in Biggest Drop Since April 2020 Read More »
After new- and existing-home sales tumbled, it should have been no surprise that pending home sales dropped in April.