Source: Redfin — The sudden surge in mortgage rates has reduced homebuyers’ budgets in many markets, forcing sellers to reset their price expectations. Price drops are becoming increasingly common, particularly in relatively affordable places that have seen...
Source: MPA — US mortgage rates posted the biggest drop in more than two years, offering homebuyers a slight reprieve from this year’s massive surge in borrowing costs. The average for a 30-year loan declined to 5.10% from 5.25% last week, Freddie Mac said in a...
Source: Redfin — Measures of homebuying competition are plateauing as early-stage demand posts its biggest annual decline since April 2020. However, mortgage rates may have leveled off, which could prevent demand from dropping even further. The housing market...
Source: Fortune — Moody’s Analytics chief economist Mark Zandi is ready to call it. He tells Fortune that we’ve officially moved from a housing boom into a “housing correction.” The real estate data rolling in for April and May shows...
Source: Mortgage News Daily — Yesterday I visited Sacramento to speak to an audience of real estate agents and originators in a joint MGIC/Golden 1 Credit Union event. The mood was good, and much of the discussion was about rent (give or take a little, 50...
Source: Scotsman Guide — Independent mortgage banks and mortgage subsidiaries of chartered banks posted a net gain of $223 on each loan they originated in the first quarter, according to the latest Quarterly Mortgage Bankers Performance Report from the Mortgage...
Hits and Misses for the Real Estate Week of May 11-15
