Interest Rates

Confused About the Housing Market? Here’s What’s Happening Now – And What Could Happen Next

Published by CNBC | September 9, 2022 The slowdown in the otherwise red-hot housing boom has been stunningly swift. The U.S. housing market surged during the pandemic as homebound people sought new places to live, boosted by record-low interest rates. Now, real estate agents who once reported lines of buyers outside open houses and bidding …

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Mortgage Rates Temporarily Fall as Home Buyers ‘Flee to Safety’

Published by FOX Business | August 4, 2022 Carroll CEO says 30-year mortgage temporarily falling as people ‘flee to safety’ in uncertain market Just because 20 and 30-year fixed mortgage rates have tumbled in recent days, doesn’t mean it’s the right time to buy or sell your home, according to one real estate expert. “The people …

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Economist: U.S. Home Prices to Plunge ‘Substantially’ on ‘Cratering’ Demand

Published by the New York Post | July 28, 2022 Mortgage rates have risen steadily as the Federal Reserve hikes its benchmark interest rates in a bid to cool the economy.  U.S. home prices are on the cusp of a major correction due to “cratering” demand among cash-strapped buyers, a prominent economist warned in a …

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Mortgage Demand Drops to a 22-year Low as Higher Interest Rates and Inflation Crush Homebuyers

Published by CNBC | July 20, 2022 Buyers have lost considerable purchasing power as rates have almost doubled since earlier this year. The pain in the mortgage market is only getting worse as higher interest rates and inflation hammer American consumers. Mortgage demand fell more than 6% last week compared with the previous week, hitting …

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Home Sale Cancellations Hit Highest Rate Since Start of Pandemic

Published by FOX Business | July 12, 2022 Higher mortgage rates, inflation contributing to cancellations Approximately 600,000 home purchase agreements fell through in June, according to a new analysis by Redfin. The figure is equivalent to 14.9% of homes that went under contract during the month, an increase from 12.7% in May and 11.2% a year …

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JPMorgan’s Mortgage Business Lays Off, Reassigns Hundreds of Employees as Rates Climb

Published by FOX Business | June 22, 2022 Average 30-year, conventional, fixed-rate mortgage hit 5.23% in May: Freddie Mac JPMorgan Chase’s mortgage business has become the latest casualty of layoffs as the Federal Reserve’s efforts to tame scorching-hot inflation send rates higher and dampen housing demand. A source familiar with the matter confirmed to FOX Business …

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