Source: CNBC — Confidence among builders in the nation’s single-family housing market fell in July to the lowest level since the start of the pandemic. The National Association of Home Builders/Wells Fargo Housing Market Index, a survey designed to gauge market...
Source: Redfin — Homebuyers are seeking out less expensive locales like Tampa and San Antonio, partly because the surging cost of housing and other goods is limiting their ability to buy homes in many U.S. cities. A record 32.6% of Redfin.com users nationwide...
Source: Marketwatch — The government’s inflation numbers confirmed that the price of literally everything has gone up. But an economist said that there’s one group who actually may have benefitted from rising costs. Inflation may be at a 41-year high of 9.1% in...
Source: Bloomberg — Mortgage rates in the US rose, resuming an upward climb that threatens to further cool the housing market. The average for a 30-year loan jumped to 5.51% from 5.3% last week, Freddie Mac said in a statement Thursday. It’s up from 3.11% at...
Source: Yahoo Finance — After a two-week break, U.S. mortgage rates began climbing again this week, a new report shows. The higher 30-year fixed-rate mortgage is becoming yet another headwind for the shaky economy amid the Federal Reserve’s war on inflation....
Source: Bankrate — Portfolio lenders make loans in the usual way to consumers, but rather than sell the mortgages to agencies like Fannie Mae and Freddie Mac, they keep the loans on their books and often service them as well. Some 30 percent of all mortgages...
