After rising at the fastest pace in 40 years, mortgage rates level off — but buyers should brace for persistently higher rates.
The post ‘Buyers of a Median-Price Home Are Looking at a Monthly Mortgage Payment That Is Almost 50% Higher Than It Was a Year Ago.’ The 30-Year Mortgage Rate Dips Slightly to 5.1% appeared first on Real Estate News & Insights | realtor.com®.
Pending home sales dropped 1.2% in March, according to the monthly index released by the National Association of Realtors.
The post ‘The Spring Housing Market Is Off to an Unpredictable Start’: Pending Home Sales Fall Amid Rising Mortgage Rates appeared first on Real Estate News & Insights | realtor.com®.
A median-priced new home today is roughly $77,000 more expensive than it was a year ago.
The post ‘New Homes Are Likely a Viable Choice for Fewer First-Time Home Buyers.’ New-Home Sales Dip as Affordability Worsens appeared first on Real Estate News & Insights | realtor.com®.
Both the Case-Shiller and Federal Housing Finance Agency indexes showed record-setting growth in home prices.
The post ‘It Will Take Time for Surging Mortgage Rates To Rebalance the Market’: Home Prices Continue To Skyrocket, but Buyers Could See Relief Soon appeared first on Real Estate News & Insights | realtor.com®.
Economists have suggested that higher mortgage rates could create a “lock-in” effect for current homeowners.
The post Mortgage Rates Rise Above 5% for the First Time Since 2011. Is the Seller’s Market Over? appeared first on Real Estate News & Insights | realtor.com®.
The National Association of Realtors now expects existing-home sales to decline 10% over the course of the year.
The post Existing-Home Sales Fall as Soaring Interest Rates Scare Off Home Buyers appeared first on Real Estate News & Insights | realtor.com®.
Home builders have shifted their focus to multifamily housing projects as buyers grapple with affordability concerns.
The post New-Home Construction Improves Despite High Inflation, Rising Mortgage Rates, and the Shortage of Skilled Labor and Materials appeared first on Real Estate News & Insights | realtor.com®.
Mortgage rates have increased to the highest level since 2018, putting a significant strain on families looking to purchase a home this spring.
The post As Mortgage Rates Surge Higher, These Home Buyers Are Being Pushed Out of the Market appeared first on Real Estate News & Insights | realtor.com®.
While yield-curve inversions are strong economic indicators that can signal the risk of a potential recession, they don’t tell investors definitively when an economic downturn is likely to come.
The post ‘Mortgages Are Complicated Instruments’: Should Home Buyers Be Worried About a Yield Curve Inversion? Economists Say Keep Your Eyes Open for These Signals. appeared first on Real Estate News & Insights | realtor.com®.
“We’re at rates that we thought we might see at the end of the year,” one economist said, underscoring the rapid increase in interest rates.
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