Subscribe to Email News Updates
High mortgage rates send homebuyers scrambling for relief
Source: KAGS TV --- LOS ANGELES — Mortgage rates are more than double what they were a year ago, so many homebuyers are looking for ways to put off some of the pain for a few years. The trend has driven adjustable-rate mortgages, or ARMs, to the highest usage in over...
Mortgage rates fall for the second week in a row
Source: CNN --- Mortgage rates dropped again this week, after plunging nearly half a percentage point last week. The 30-year fixed-rate mortgage averaged 6.58% in the week ending November 23, down from 6.61% the week before, according to Freddie Mac. A year ago, the...
Mortgage demand rises 2.2% as interest rates decline slightly
Source: CNBC --- Mortgage applications rose 2.2% last week compared with the previous week, prompted by a slight decline in interest rates, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinance applications, which are usually most...
Regular homebuyers in Las Vegas and Phoenix stand a chance now that investors are fleeing pandemic boomtowns
Source: Insider --- Investors are retreating from pandemic boomtowns like Phoenix, Arizona and Las Vegas, Nevada as home prices continue to fall in those markets, according to a new analysis from real estate brokerage Redfin. Overall, investors purchased $42.4 billion...
Opinion: Homeowners should prepare for an ugly 2023, but it’s unlikely we’ll have a repeat of 2008
Source: CNN --- A much-feared correction in US home prices is underway. While this may feel like déjà vu, the drivers behind the recent spike in prices and the current housing market downturn are different from the ones seen in the 2000s. This time around, the US...
Where home prices are headed in 2023—this map shows CoreLogic’s revised outlook for 392 housing markets
Source: Yahoo! Finance --- When a buttoned-up Fed economist says the U.S. housing market has entered into a "difficult [housing correction"], it'd be wise to believe them. When it comes from the lips of Fed Chair Jerome Powell, it's more of a warning. Powell is right:...
