Source: Marketplace — China’s real estate sector has a debt problem. Large property developers like the embattled company Evergrande have racked up massive amounts of debt, leading to construction stoppages and lots of angry homebuyers. Amid the turmoil, buyers...
Source: CNBC —Â Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower. The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on Wednesday, when the Fed announced its latest...
Source: Redfin —Â Since mortgage rates came down from their June high, measures of early demand like online real estate searches and home tours have ticked up and/or stabilized. A half-point drop in mortgage rates from their June high is drawing some homebuyers...
Source: World Property Journal —Â According to the California Association of Realtors, sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 344,970 in June 2022. California’s June home sales pace...
Source: Bankrate — The Federal Reserve on Wednesday moved aggressively to rein in inflation, announcing its second consecutive rate hike of three-quarters of a percentage point. Counterintuitively, the average rate on 30-year mortgages fell to 5.59 percent this...
Source: Keeping Current Matters — If you’re following the news, chances are you’ve seen or heard some headlines about the housing market that don’t give the full picture. The real estate market is shifting, and when that happens, it can be hard to separate fact...
Pennymac Raises Early 2027 Conforming Loan Limit to $850,000
