The numbers: Mortgage rates continued to inch downwards, providing some relief to prospective homeowners. The 30-year fixed-rate mortgage averaged 6.27% as of December 22, according to data released b...
Tag: homebuyer
‘Some companies are closing their doors, others are shutting down divisions’: Rocket CEO outlines plans to navigate the dramatic decline in mortgages
The mortgage industry is struggling with higher rates and a sharp drop in buyer demand. Rocket RKT, +0.53% says it’s got a plan to turn things around. There’s turmoil in the sector. Volume of originat...
‘Vulnerable time for the housing market’: Mortgage rates are now double what they were a year ago, and will weigh on house prices
The 30-year fixed-rate mortgage averaged 5.66% as of Sept. 1, according to data released Thursday by Freddie Mac. That’s up 11 basis points from the previous week — one basis point is equal to one hun...
Housing affordability plunges to lowest level since 2006. The property market’s ‘great slowdown’ is here, Bank of America says
A “great slowdown” is happening in the U.S. housing market, a new report from Bank of America says, as mortgage originations shrink and spending on household items softens. Amid weak home sales number...
Don’t expect a bidding war if you’re selling your house — homebuyer competition just plunged to the lowest level in over 2 years
Don’t expect a bidding war if you’re selling your house — homebuyer competition just plunged to the lowest level in over 2 years Intense homebuyer competition helped fuel real estate prices up in rece...
Homebuyer demand for mortgages drops 10%
A sign advertising an open house in Corona Del Mar, California. Scott Mlyn | CNBC Mortgage rates have been rising since the start of the year, but buyers at first seemed unfazed, some even rushing to ...
Home values in August saw their largest monthly decline since 2011. Some cities see house prices drop by 3%.
Home values are edging down as buyers remain spooked by high mortgage rates, according to a new report. The typical value of a home in the U.S. fell 0.3% in August from the previous month, according t...