Many pros predict that mortgage rates will continue to rise in 2022, but expect ups and downs along the way. We looked into the latest mortgage rate predictions from big real estate players — and asked five experts — to examine what might happen to mortgage rates this year.
Mortgage rates dipped further away from 4% this week, following the decline in the 10-year Treasury yield amid intensifying fighting in Ukraine. The rate on the average 30-year fixed home mortgage fell to 3.76%, down from 3.89% a week ago, according to Freddie Mac. A year ago, the 30-year loan rate averaged 3.02%.
Newsfeed: Mortgage rates retreat more as Ukraine crisis continues Read More »
Federal Reserve Chair Jay Powell said Wednesday that he expects the central bank to raise interest rates by a quarter-point this month, despite the economic uncertainty generated by the Russian invasion of Ukraine. “I do think it will be appropriate to raise our target range for the federal funds rate at the March meeting in a couple of weeks, and I’m inclined to propose and support a 25-basis-point rate hike,” Powell told the House Financial Services Committee.
Newsfeed: Fed Pressing Ahead With Rate Hike in March Read More »
Despite existing home sales unexpected surge in January, new home sales are expected to drop modestly (-1.2% MoM) in January (after a huge unexpected surge in December), but sales actually tumbled considerably more (down 4.5% MoM) to 801k SAAR (from 839k SAAR).
Newsfeed: US New Home Sales Tumble In January As Mortgage Rates Soar Read More »
U.S. home sales unexpectedly rose in January, but investors paying in cash are squeezing out first-time buyers amid record low inventory and higher prices. Existing home sales rebounded 6.7% to a seasonally adjusted annual rate of 6.50 million units last month, the National Association of Realtors said on Friday. Sales rose in all four regions. Economists polled by Reuters had forecast sales decreasing 1.0% to a rate of 6.10 million units.
Home price growth in the U.S. paused in the final month of 2021, but the full year logged in record gains.
Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index posted an 18.8% annual gain in December, unchanged from November. The 20-City Composite posted an 18.6% annual gain, up from 18.3% a month earlier. The 20-City results were higher than analysts’ expectations of an 18% annual gain, according to Bloomberg consensus estimates.
Newsfeed: Yahoo Finance US home price growth stalls in the final month of 2021 Read More »
U.S. home sales unexpectedly rose in January, but investors paying in cash are squeezing out first-time buyers amid record low inventory and higher prices. Existing home sales rebounded 6.7% to a seasonally adjusted annual rate of 6.50 million units last month, the National Association of Realtors said on Friday. Sales rose in all four regions. Economists polled by Reuters had forecast sales decreasing 1.0% to a rate of 6.10 million units.
U.S. home sales unexpectedly rose in January, but investors paying in cash are squeezing out first-time buyers amid record low inventory and higher prices. Existing home sales rebounded 6.7% to a seasonally adjusted annual rate of 6.50 million units last month, the National Association of Realtors said on Friday. Sales rose in all four regions. Economists polled by Reuters had forecast sales decreasing 1.0% to a rate of 6.10 million units.
Newsfeed: U.S. existing home sales surge in January; inventory at record low Read More »
After December’s unexpected tumble, analysts expected existing home sales to continue to slow (-1.3% MoM) in January as mortgage rates rose, omicron hit, and homebuilder sentiment began to slow (catching down to homebuyer’s record low confidence). However, despite the soaring rates and slumping confidence, NAR expects us to eblieve that sales exploded 6.7% higher MoM (a massive beat, even more so given that December was revised slightly better)…
Wall Street won’t rest until it become the biggest – and perhaps only – landlord in the US. On Wednesday, Blackstone cemented its position as America’s largest residential and commercial landlord by buying apartment owner Preferred Apartment Communities in a deal valued at $5.8 billion, demonstrating the unstoppable investor demand for multifamily – i.e., rental – properties in Sunbelt states.