The only region of the U.S. that didn’t experience an annual decline in existing home sales was the Midwest, where sales were unchanged year over year.
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Category: Freddie Mac
Only 1% of U.S. houses changed hands this year
Back in 2018, Freddie Mac stated that the country still needed about 2.5 million extra homes in order to meet demand. Then the pandemic homebuying boom depleted already-low inventory levels and high mortgage rates in the second half of 2022 chained many homeowners to their existing low rates.
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FHFA rescinds “unworkable” fee ahead of implementation
The mortgage industry decried the proposed loan-level pricing adjustment for borrowers with higher debt-to-income ratios.
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Understanding HUD and what it means for residential real estate
Any agent who works with a client who has procured Fannie Mae or Freddie Mac loans is effectively working for a HUD client. It’s essential, then, that agents know how to navigate the paperwork and bureaucracy of a HUD transaction, or know where to get help.
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‘Affordability Is Hindered’: Mortgage Rates Rise for Fourth Week in a Row, Surpass 7%
On Thursday, the 30-year fixed mortgage rate hit 7.1%, according to the latest data from Mortgage News Daily.
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‘Many Prospective Buyers Are Waiting for the Volatility in Mortgage Rates To Subside’: Mortgage Rates Hit 7.08%, Freddie Mac Says
The 30-year fixed-rate mortgage averaged 7.08% as of Nov. 10, according to data released by Freddie Mac on Thursday.
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Midterm Elections Could Be Critical for the Housing Market: One ‘Contentious’ Issue Has Split Democrats and Republicans
The Nov. 8 elections will determine which party controls the House and the Senate for the next two years. And the result will then impact a number of issues related to housing finance policy.
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Mortgage rates top 7% for first time since 2002
A 30-year fixed-rate mortgage rose to 7.08% this week from 6.94% a week ago, Freddie Mac reported. A year ago, the average mortgage carried a 3.14% rate.
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Mortgage rates fall below 5% — for the first time since April
The 30-year fixed-rate mortgage averaged 4.99% as of Aug. 4: down 0.8% from last week. The news marks the first time since April that mortgage rates have dipped below 5%.
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Omicron worries push mortgage rates down
Fears of an economic fallout are causing long-term U.S. mortgage rates to fall as the newest COVID-19 strain reignites worry among Americans.
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