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Mortgage Interest Rates

All articles tagged with #mortgage interest rates

finance2 years ago

"Surprising Drop in Mortgage Rates Signals Good Time for Homebuyers"

Mortgage interest rates on new purchases are dropping, with almost all rates down since last week. The Federal Reserve's pause on rate hikes and lower-than-expected job growth are contributing factors. If the Consumer Price Index shows low inflation, rates could continue to decrease. The average 30-year fixed mortgage rate is 7.50%, while the average 15-year fixed rate is 6.81%. Mortgage rates are expected to remain in the 7% to 8% range in the near term. Homeowners may consider a home equity line of credit (HELOC) while waiting for rates to ease. The Federal Reserve's rate hikes indirectly impact mortgage rates, which are influenced by investor demand for mortgage-backed securities.

via Business Insider|
#federal-reserve#finance#homebuying
real-estate2 years ago

Housing Market Turmoil: Rising Mortgage Rates Lock Buyers Out

Homebuyers are feeling locked out of the housing market as prices continue to soar and mortgage interest rates reach new highs. Many prospective buyers are compromising on their preferences and increasing their budgets, but still struggle to find affordable homes in desirable areas. The limited supply of homes for sale is exacerbating the situation, with few homeowners willing to sell despite the favorable market conditions. Realtors and experts warn that the supply needs to double to moderate price increases. While prices may eventually stabilize, a significant decrease is unlikely, especially with mortgage rates remaining high.

via NBC News|
#homebuyers#housing-market#mortgage-interest-rates
real-estate2 years ago

Newly constructed homes selling fast despite inventory shortages.

Sales of new single-family homes in the US rose 4% MoM and 12% YoY in April due to low inventory of existing homes and robust sales in the South and Midwest regions. The median sales price of new single-family homes in April declined to $420,800 from $455,800 in March. The inventory of new houses for sale at the end of April stood at 433,000, representing a supply of 7.6 months at the current sales rate, in contrast to inventory of existing homes, which stands at 2.6 months of supply.

via USA TODAY|
#existing-homes#housing-inventory#median-home-price