mortgage rates

Real estate stocks slid at Wednesday’s market open, weighed down by the latest disappointing data on housing starts and a spike in mortgage rates, darkening the outlook for the sector. By 9:00 a.m. EST, the Real Estate Select Sector SPDR Fund (NYSE:XLRE) had dropped by 0.3%. This marked its...

The recent spike in national mortgage rates stirred concerns among homebuyers and economists alike. With the 30-year fixed-rate mortgage (FRM) climbing to 6.88% on April 11, questions arise about the trajectory of the housing market. Chart Source: Freddie Mac Additionally, other key indicators...

Mortgage lock-in is an often overlooked area of the U.S. housing market. It hampers the ability of homeowners to sell their properties, adding to the shortage in supply of available homes, pushing house prices ever higher. Here’s the problem. Most of the 50 million active mortgages in the U.S...

Mortgage rates moved lower again last week, after rising in three of the previous four weeks. This will come as a welcome relief to the hundreds of thousands of homeowners and loan applicants, who followed Wednesday’s Federal Reserve outcome with trepidation. Mortgage rates are highly...

Homebuyers are getting more for their money now that mortgage rates have dropped to 6.7% — down from nearly 8% in October. A homebuyer with a $3,000 per month budget can afford a house that costs nearly $40,000 more since mortgage rates peaked last fall, according to a new report from Redfin. A...

As the new year unfolds, the housing market is making headlines with a surge in mortgage applications, marking a 9.9% uptick from just a week ago despite a slight increase in mortgage interest rates. Insights from the Mortgage Bankers Association's (MBA) Weekly Mortgage Application Survey, adjusted...

Euro Pacific Asset Management CEO and Chief Global Strategist Peter Schiff is well known for his predictions of seismic global financial events.  In a podcast with Sachs Reality Founder Todd Sachs, Schiff spoke about the impact of government policies in artificially inflating real estate...

The average American wage earner needs to earn tens of thousands of dollars per year more than in the past to afford the average house in America.  According to the U.S. Census, the average American household income in 2022 was $74,580. The average home price is $431,000, according to the...

Potential homebuyers found further relief on Thursday after mortgage rates fell in the U.S. for the fifth consecutive week. The average rate for a 30-year loan fell to 7.22%, down from 7.29% last week, said Freddie Mac, the mortgage-backed securities broker. Although conditions for buyers appear to...

The mortgage market seems to find the first glimmers of light at the end of a long tunnel. What Happened: The Mortgage Bankers Association (MBA) announced Wednesday that mortgage applications increased by 2.5% for the week ending Nov. 3, snapping three straight weeks of decreases. A rise in...

The portion of mortgaged homes that are equity-rich slipped at its fastest pace in at least four years, but the number of loans that are seriously underwater improved in the third quarter, according to real estate data firm ATTOM's 2023 U.S. Home Equity & Underwater Report. The report found...

Mortgage rates hovering near 8% — the highest level in 23 years — are taking a toll on the housing market.  Demand for housing loans has fallen to the lowest level since 1996, with total application volume declining 6.9% over seven days ending Oct. 18, according to the Mortgage Bankers...

The dream of owning a home is becoming more challenging for many Americans, highlighted by the sharp rise in mortgage rates and the continual climb of home prices.  A typical homebuyer now needs an income of $114,627 to afford a median-priced home in the U.S., a 15% ($15,285) increase from a...

Mortgage rates continue to climb in the U.S., reaching levels not seen in decades. The latest weekly report from the Mortgage Bankers Association of America (MBA) sent fresh shockwaves through the housing industry, revealing that the average contract interest rate for 30-year fixed-rate mortgages...

The average 30-year mortgage rate skyrocketed to 8% on Wednesday, as indicated by a survey conducted by Mortgage News Daily. This surge was driven by the 30-year Treasury bond yield, which climbed above 5%, reaching its highest point in 17 years. On the same day, the Mortgage Banker Association (...