Category: mortgage rates

Realtors’ Association Projects Softening Housing Market With Moderate Recession in California in 2023

October 13, 2022
Business & MarketsCalifornia housing marketeconomyMarketsmortgage ratesreal estateRegional-Local NewsU.S. real estate marketUSUS Real Estate
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As mortgage rates are up near 7 percent and home sales slow down across the country, many are wondering if the Golden State of California is still a seller’s market. Real estate experts predict that California’s housing market will soften in 2023, with home prices expected to fall by 8.8 percent. However, they believe that…

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Wall Street Expects Second-Biggest Home Price Drop Since Great Depression

October 6, 2022
Business & Marketseconomyhome priceshousinginflationinterest ratesMarketsmortgage ratesreal estaterecessionUSUS NewsUS Real Estate
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Top investment firms, including Morgan Stanley, are predicting a significant drop in U.S. home prices amid high mortgage rates, elevated home prices, and affordability challenges. Morgan Stanley is calculating home prices to dip by 7 percent by the end of 2023, which is more than twice as large as the 3.1 percent peak-to-trough decline seen…

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Mortgage Application Pace Plunges to 25-Year Low as Housing Recession Deepens

October 5, 2022
Business & Marketseconomyhigh interest rateshousing recessionMarketsmortgage applicationsmortgage ratesmortgage refinancereal estaterecessionUSUS NewsUS Real Estate
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The pace of mortgage applications has fallen to a multi-decade low amid high housing interest rates, according to the latest data from the Mortgage Bankers Association (MBA). The Market Composite Index, a measure of mortgage loan application volume, declined by 14.2 percent on a seasonally adjusted basis for the week ended Sept. 30, 2022, compared…

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US Home Prices Decline by Record Margin Since 2009 Financial Crisis: Report

October 4, 2022
Business & MarketseconomyinflationMarketsmortgage ratesreal estateU.S. home pricesU.S. housing marketUSUS Real Estate
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Home prices across the United States fell by a large margin in the month of August, while inventory levels stalled, according to a recent report by mortgage analytics firm Black Knight. Median home prices declined by 0.98 percent in August, after falling by 1.05 percent in July, according to a press release on Oct. 3. July and…

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How Much Will a House Cost by 2030? Predictions and Tips to Start Saving

September 30, 2022
Brighthomebuyershousing marketinvestingmortgage ratespersonal financereal estate
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By David McMillin From Bankrate.com Just 17 percent of Americans believe it’s a good time to buy a home, according to a recent survey from Fannie Mae. Between higher mortgage rates, still-high home prices and broader inflationary pressure, putting off buying a home might be the only option for some. What happens if you wait, though?…

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Smith & Wesson Sued Over July 4 Shooting; Mortgage Rates Jump to Highest Since 2008 | NTD Business

September 28, 2022
EpochTVLive Videosmortgage ratesNTD BusinessSmith & WessonUK tax cutsVideo
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Victims of a mass shooting sue a major gunmaker, accusing it of illegally targeting young men prone to violence with its ads. Mortgage rates are hitting a level not seen since the global financial crisis; is it still a good time for you to buy a home? The UK’s central bank says it’ll buy an unlimited amount…

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Mortgage Refinancing Hits 22-Year Low as 30-Year Mortgage Rates Rise Above 7 Percent

September 28, 2022
30-year mortgageBusiness & Marketseconomic policieseconomyhousing marketinflationMarketsmortgage ratespersonal financereal estaterecessionUSUS Real Estate
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Mortgage rates jumped again last week after the Federal Reserve reaffirmed its aggressive policy to raise interest rates to fight inflation. The average interest rate for a 30-year fixed-rate mortgages for conforming loan balances rose to 6.52 percent from 6.25 percent. Points increased from 0.71 to 1.15, including the origination fee, for 80 percent of…

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Mortgage Refinancing Hits 22-Year Low as 30-Year Mortgage Rates Seen Rising Above 7 Percent

September 28, 2022
30-year mortgageBusiness & Marketseconomic policieseconomyhousing marketinflationMarketsmortgage ratespersonal financereal estaterecessionUSUS Real Estate
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Mortgage rates jumped again last week after the Federal Reserve reaffirmed its aggressive policy to raise interest rates to fight inflation. The average interest rate for a 30-year fixed-rate mortgages for conforming loan balances rose to 6.52 percent from 6.25 percent. Points increased from 0.71 to 1.15, including the origination fee, for 80 percent of…

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Ex-Treasury Secretary Says ‘We’re in New Financial Territory’

September 28, 2022
30-year mortgageBusiness & Marketseconomic policieseconomyinflationMarketsmortgage applicationsmortgage ratesU.S. interest rate hikesU.S. treasury yieldsUS
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Lawrence Summers, the former Secretary of Treasury under the Clinton administration, has warned that home mortgage rates are set to climb even higher. “The U.S. 10-year rate just crossed above 4 percent. Mortgage rates comfortably exceed 7 percent. We are now in new financial territory,” Summers noted in a tweet on Sept. 28. The average contract rate…

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Home Prices Cooled Down at Fastest Pace in ‘History of the Index’

September 27, 2022
Business & Marketseconomyhigh inflationhome prices fallinflationinterest rate hikeMarketsmortgage ratesreal estateU.S. housing marketUSUS Real Estate
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U.S. home prices decelerated at a record pace in July, despite remaining elevated compared to a year back, according to S&P Dow Jones Indices. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, registered a 15.8 percent gain in July 2022 compared with July 2021, a Sept….

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