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‘Housing correction’ is coming. What homeowners, buyers and sellers should know.
Source: M Live --- Coming out of the pandemic shutdown lit the match for housing demand, and it’s been burning hot for nearly two years straight — but a housing correction is finally on the horizon. Two-thirds of the nation’s largest housing markets are overvalued,...
Why the Housing Market Is Not in Recession
Source: Knowledge at Wharton --- Wharton real estate professor Fernando Ferreira doesn’t believe the U.S. housing market has entered a recession. Home sales are falling in response to rising interest rates, but there’s still a mismatch of supply and demand, he said....
Adjustable rate mortgages are back
Source: Maine Public --- ARI SHAPIRO, HOST: With mortgage rates up sharply, a lot more homebuyers are turning to adjustable-rate loans. These can be more affordable - at least at first - but they come with a big risk - that your mortgage payment might go up a lot in...
Current Refinance Rates: September 6, 2022—Current Refinance Rates Inch Down
Source: Forbes --- The rate on a 30-year fixed refinance decreased today. The average rate on a 30-year fixed mortgage refinance is 6.04%, according to Bankrate.com, while the average rate on a 15-year mortgage refinance is 5.22%. On a 20-year mortgage refinance, the...
Mortgage Rates in September: A Smooth Ride, Then Turbulence
Source: Nerd Wallet --- September mortgage rates forecast Interest rates on fixed-rate mortgages are likely to remain fairly stable in the first three weeks of September. The forecast gets murkier at the end of the month. That's because the Federal Reserve will...
‘Sugar Hit’: Banks Benefit As Savings Rate Rises Lag Mortgages
Source: News AZI --- Macquarie analyst Victor German last week said deposit pricing was giving banks a “sugar hit,” at the same time as loan growth in their mortgage businesses slowed. “In the short term, banks continue to benefit from highly lucrative retail deposit...
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