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

Economy, Interest Rates, Mortgages / By W. J. Mencarow

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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As Housing Cools, Mortgage Loan Size Falls

Interest Rates, Mortgages / By W. J. Mencarow

Published by FOX Business | June 22, 2022 The average mortgage loan amount is down markedly from its peak in mid-March The average loan amount for a home mortgage in the U.S. is down markedly from the high in mid-March, indicating that the housing market is cooling as interest rates rise. The Mortgage Bankers Association’s latest Weekly …

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Housing Starts Collapse in May As Inflation and Soaring Interest Rates Hit Hard

Economy, Interest Rates / By W. J. Mencarow

Published by Breitbart News | June 16, 2022 The pace of new home construction crashed 14.4 percent in May, according to the Commerce Department, as higher interest rates and high home prices drove away buyers and depressed home builder sentiment. Housing starts fell to an annual rate of 1.55 million and permits fell to 1.7 …

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Mortgage Rates Jump, Reaching 5.23%

Interest Rates, Mortgages / By W. J. Mencarow

Published by FOX Business | June 9, 2022 This comes ahead of a Federal Reserve meeting where a raise in its main borrowing rate is expected Average long-term U.S. mortgage rates made a swift jump this week, further squeezing cash-strapped American homeowners. On Thursday, a 30-year fixed-rate mortgage averaged 5.23%, according to Freddie Mac. That’s up from …

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Home Sellers in Hot Markets are Dropping Prices as Demand Wanes

Interest Rates, Mortgages / By W. J. Mencarow

Published by FOX Business | May 31, 2022 The rise in mortgage rates is pricing out buyers Price drops are “becoming increasingly common” in some of the most popular housing markets across the United States. According to new Redfin data, more than 20% of home sellers dropped their price in seven of the 10 most …

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Chief Economist For NAR Predicts Uncertainty For Housing Market

Covid-19, Interest Rates, Mortgages, Russia-Ukraine War / By W. J. Mencarow

Published by Forbes.com | May 5, 2022 NAR calculates purchasing a home is now 55% more expensive than a year ago. Two years after enduring the devastating financial impacts of Covid-19, the U.S. economy has made an impressive comeback, in large part due to a booming housing market. But as Lawrence Yun, chief economist for …

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Real Estate Expert on Whether Home Prices Could Come Down Amid Fed Rate Hikes

Interest Rates, Mortgages / By W. J. Mencarow

Published by FOX Business | May 2, 2022 Data recently released for February 2022 show that home prices continue to increase across the U.S. as limited supply and a race to lock in rising mortgage rates drove enticed buyers. First American Financial Corporation chief economist Mark Fleming discussed where he believes home prices are going …

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Inflation Edges Higher, Affecting Housing

Economy, Interest Rates, Mortgages, Russia-Ukraine War / By W. J. Mencarow

Published by REALTOR Magazine | April 13, 2022 Over the last year, the cost of shelter has increased 5%, marking the largest increase in four decades The rate of inflation reached 8.5% in March, continuing at a 40-year high and showing few signs of relief for consumers. Higher gas prices, food, and housing costs fueled the consumer …

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Why the Public is Not Happy with Inflation!

Economy, Interest Rates, Taxes / By W. J. Mencarow

Written By Dan Harkey | Business & Private Money Finance Consultant In 1913 folks could buy a five-course meal and iced tea for 10 cents. That was about the time when the Federal Reserve system (central bank) was established. Since that time, approximately 109 years later, as of 2022, inflation increased by 2,740%. Many folks …

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How Millennials Are Keeping The Housing Market Alive

Interest Rates, Mortgages / By W. J. Mencarow

Published by FOX Business | April 13, 2022 The real estate market isn’t dead despite rising mortgage rates, one market expert says “What we’re still seeing is really strong demand in the housing market because of the shortage of houses that were built over the last eight or so years,” Advisors Capital Management partner Joanne Feeney told FOX …

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