Source: U.S. News — Mortgage rates surged above the 7% threshold for the 30-year fixed mortgage term this week, according to Freddie Mac. This is the first time that average rates have entered 7% territory since early 2002. Interest rates also rose for the...
Source: Time — The Federal Reserve once again hiked its benchmark interest rate this week, a fourth consecutive increase of 75 basis points. What does that mean for mortgage rates, which are already above 7% for the first time in 20 years? Maybe not much....
Source: Speculators Anonymous — Many longtime readers know that I’ve been very critical of the housing market after the massive boom in real estate prices post-COVID. And as we learned from the underrated Austrian economist – Ludwig Von Mises – the bigger the...
Source: The Motley Fool — For the first time since March 2021, the average home is selling below the asking price. In fact, prices have fallen by 6% since June. As the market cools, home buyers savvy enough to hang in there may be the ones to benefit. If...
Source: CNBC — The once-hot housing market is cooling off at an alarming rate, and some homebuilders say it will only get worse come the new year as new orders dry up. Fast-rising mortgage rates have caused once-frenzied homebuyers to turn on their heels and...
Source: Forbes — The housing market is rebalancing after the most competitive and frenetic period in recent memory. The cooling trend that is engulfing the market is expected to continue with more cities seeing home prices decline by this time next year as the...
Hits and Misses for the Real Estate Week of June 22-26
