Category: U.S. home prices

Mortgage Rates Soar, Currently Above 6 Percent

June 15, 2022
benchmark interest rateBusiness & Marketsconsumer price indexeconomyinflationmortgage ratesU.S. home pricesUS
0 Comment

Interest rates on mortgages have spiked above 6 percent amid fears that the U.S. Federal Reserve could raise benchmark interest rates even further in a bid to contain inflation. The interest rate on a 30-year fixed-rate mortgage was 6.28 percent as of June 14, 2022, according to Mortgage News Daily. This is a jump of…

Read More

Housing Prices Near All Time High Of 2006

June 6, 2022
Business & MarketseconomyMarketsmortgage ratesreal estateU.S. home pricesUSUS NewsUS Real Estate
0 Comment

American mortgages holders saw their collective tappable equity, the amount owners have available to borrow against a home while retaining a stake of at least 20 percent, increased by a record $1.2 trillion in the first quarter of 2022, according to Black Knight’s Mortgage Monitor Report released on June 6. Mortgage holders have gained a total…

Read More

US Home Prices Rose at Fastest Annual Pace on Record in March

May 3, 2022
Business & Economyeconomyinflationreal estateU.S. home pricesU.S. InflationUSUS Real Estate
0 Comment

U.S. home prices for the first quarter of 2022 continued to skyrocket with a record 20.9 percent year-over-year increase in March 2022, according to CoreLogic’s latest Home Price Index and Forecast, which was released on May 3. This was the highest 12-month growth for the U.S. home index since the series began in 1976, while mortgage rates…

Read More

Mortgage Applications Decline as Interest Rates Rise

March 16, 2022
Business & EconomyeconomyinflationMarket Composite IndexMarketsmortgage applicationmortgage bankers associationU.S. home pricesUSUS News
0 Comment

Applications for mortgages declined for the week ending March 11 when compared to a week earlier as interest rates rose to multi-year highs, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. The Market Composite Index, which measures the volume of mortgage applications, fell 1.2 percent on a seasonally adjusted basis. On an…

Read More

Investors Buying Up Record Share of American Homes: Redfin Report

February 18, 2022
Business & EconomyeconomyInvestmentMarketsreal estate investmentrental propertiesU.S. home pricesU.S. investorUSUS News
0 Comment

Homes bought by investors made up a record 18.4 percent of the total homes sold in the United States during the final quarter of last year, based on a report by realty company Redfin, drawing scrutiny from lawmakers who have blamed the trend for driving up home prices. The Q4 numbers reveal an uptrend from…

Read More

US Mortgage Rates Reach A Two-Year High, Putting Pressure On New Home Buyers

February 12, 2022
Business & Economyeconomyinflationmortgage ratesU.S. home pricesUS
0 Comment

U.S. mortgage rates last week jumped to a two-year high and are expected to continue rising, which may further squeeze first-time homebuyers out of the market, while inflation continues to rise rapidly across the nation. Many buyers were already struggling with higher home prices and limited housing stock. The average rate for a 30-year fixed-rate…

Read More

Home Prices Rise as Construction Remains Stagnant With Supply Chain Shortages

November 18, 2021
Business & EconomyeconomyhomebuildinginflationMarketssingle-familysupply chain bottleneckU.S. home pricesUS
0 Comment

Single-home construction went down in October, while authorizations given for starting construction jumped to a 15-year high, revealing a market discrepancy with high demand but a significant shortage of supply. Single-family housing starts dropped 3.9 percent to a seasonally adjusted annual rate of 1.039 million units last month, according to a report from the Commerce…

Read More