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“Mortgage rates rise for first time in seven weeks” The average long-term US mortgage rate rose this week after falling for six straight weeks, adding to the challenges potential homebuyers face amid higher home prices and a limited supply of available houses. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year…
“New home sales rise 5.8% in November — but dip in these regions” Sales of new US single-family homes rose for a second straight month in November likely as Americans took advantage of a retreat in mortgage rates and incentives from desperate builders, but the overall housing market remains depressed. New home sales increased 5.8% to a seasonally adjusted annual…
“Mortgage rates fall for third straight week” The average long-term US mortgage rate ticked down for the third week in a row and have fallen more than a half-point since hitting a 20-year high less than a month ago. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate fell to…
“Home prices fall for third straight month in September” US single-family home prices slowed further in September as higher mortgage rates eroded demand, closely watched surveys showed on Tuesday. The S&P CoreLogic Case Shiller national home price index dropped 0.8% month-over-month in September. Monthly house prices fell in July for the first time since late 2018. House prices…
“New home sales unexpectedly rise 7.5% in October” Sales of new US single-family homes unexpectedly jumped in October, shrugging off rising mortgage rates and house prices, which have drastically eroded affordability. New home sales rebounded 7.5% to a seasonally adjusted annual rate of 632,000 units last month, the Commerce Department said Wednesday. September’s sales pace was revised down to 588,000 units from…
“Home sales plunge to lowest level in 10 years as prices stay high despite high mortgage rates” Sales of previously occupied US homes fell in October for the ninth month in a row to the slowest pre-pandemic sales pace in more than 10 years, as homebuyers grappled with sharply higher mortgage rates, rising home prices…
“US housing market headed for ‘deep freeze’ as mortgage rates soar” The US housing market is on the cusp of a “deep freeze” as rising mortgage rates and steep home prices conspire to limit buying and selling activity, a prominent economist warned this week. Mark Zandi, the chief economist of Moody’s Analytics, pointed to a…
“Mortgage demand hits 22-year low as interest rates rise” Mortgage demand sank to its lowest level in 22 years this week as rising interest rates and a lack of inventory cool demand among potential homebuyers. The volume of mortgage loan applications sank by 6.5% for the week ending on June 3 compared to the…
“May sees a slowdown in NYC home sales: report” Spring in New York typically brings a busy homebuying season — but in May 2022, it doesn’t seem like many locals had that usual spring in their step. The latest report from Douglas Elliman shows that, due to a lack in inventory and rising mortgage rates,…
“NYC homes sell at their fastest pace in 6 years: study” New York City homes are once again selling in a New York minute. In April, according to a newly released market report from listings portal StreetEasy, the median city home spent a total of 46 days listed for sale — 20 days below the…