Commentary As the midterms approach, one way of looking at America’s current disaster is that we, the American people, were lab rats. And since 2021, the Left were the mad scientists, eager to try out their crackpot leftist experiments on us. The result is that the housing market is tottering on the verge of collapse….
The Left Were the Mad Scientists—We Were Their Lab Rats
November 3, 2022
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Mortgage Demand Slumps Again Despite Rates Easing as Housing Downturn Intensifies
November 2, 2022
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Business & MarketseconomyHome saleshousing marketMarketsmortgage applicationsmortgage demandreal estaterecessionrising mortgage ratesU.S. interest rate hikesUSUS Real Estate
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Even though mortgage rates eased down a bit, demand for mortgages fell for the week ended Oct. 28, according to data from the Mortgage Bankers Association (MBA). The Market Composite Index, which measures mortgage loan-application volume, declined by 0.5 percent on a seasonally adjusted basis for the week ended Oct. 28 when compared to a…
Homebuilders Worried About Steeper Downturn in the Housing Market
November 1, 2022
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Business & Marketseconomyhome priceshousing affordabilityhousing marketMarketsreal estaterising mortgage ratesU.S. home salesUSUS NewsUS Real Estate
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As the housing market cools down, homebuilders are concerned that the downturn might be too steep for them to handle. The COVID-19 economy was a good time for homebuilders as low interest rates and higher demand saw home prices spike by more than 40 percent in two years. But now that mortgage rates are elevated,…
Mortgage Demand Falls to 25-Year Low as Interest Rates Top 7 Percent: Mortgage Bankers Association
October 26, 2022
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Business & Marketseconomyhousing marketinflationMarket Composite IndexMarketsmortgage bankers associationmortgage demandmortgage ratesreal estateUSUS Real Estate
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Mortgage applications have fallen to their lowest level in 25 years as interest rates hit record highs, according to the Mortgage Bankers Association (MBA). The MBA’s Market Composite Index, which measures mortgage application loan volume, fell 1.7 percent on a seasonally adjusted basis for the week ending Oct. 21 compared to a week earlier, according…
Goldman Sachs Analysts Expect Housing Market to Deteriorate Further as Rate Hikes Are Not Fully Felt
October 25, 2022
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Business & Marketseconomic policieseconomyhomebuilder sentimenthousing marketinflationmortgagereal estateUSUS Real Estate
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Goldman Sachs analysts have warned that the already weak housing market may face further trouble, as the effect of high mortgage rates has yet to be fully felt. The analysts say that the housing market is expected to slide in the coming months, as existing homes sales data for September failed to fully capture the…
COVID-19’s Long Impact on the Housing Market
By Rae Hartley Beck From Bankrate.com The coronavirus pandemic has had profound impacts on the housing market. House flipping and residential real estate investing have risen drastically, with real estate analytics firm CoreLogic reporting that investors bought a record high 28 percent of all single-family homes in the first quarter of 2022. With the rise…
Homeowners See Slower Equity Gains as Housing Market Cools
LOS ANGELES—Homeowner equity climbed to record highs in the first half of this year, though its rate of growth is slowing as the housing market cools. Average homeowner equity per borrower reached $298,380 in the second quarter, according to data from CoreLogic. That works out to $3.6 trillion in equity gained by U.S. homeowners with…
How Much Will a House Cost by 2030? Predictions and Tips to Start Saving
By David McMillin From Bankrate.com Just 17 percent of Americans believe it’s a good time to buy a home, according to a recent survey from Fannie Mae. Between higher mortgage rates, still-high home prices and broader inflationary pressure, putting off buying a home might be the only option for some. What happens if you wait, though?…
Mortgage Refinancing Hits 22-Year Low as 30-Year Mortgage Rates Seen Rising Above 7 Percent
September 28, 2022
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30-year mortgageBusiness & Marketseconomic policieseconomyhousing marketinflationMarketsmortgage ratespersonal financereal estaterecessionUSUS Real Estate
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Mortgage rates jumped again last week after the Federal Reserve reaffirmed its aggressive policy to raise interest rates to fight inflation. The average interest rate for a 30-year fixed-rate mortgages for conforming loan balances rose to 6.52 percent from 6.25 percent. Points increased from 0.71 to 1.15, including the origination fee, for 80 percent of…
Mortgage Refinancing Hits 22-Year Low as 30-Year Mortgage Rates Rise Above 7 Percent
September 28, 2022
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30-year mortgageBusiness & Marketseconomic policieseconomyhousing marketinflationMarketsmortgage ratespersonal financereal estaterecessionUSUS Real Estate
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Mortgage rates jumped again last week after the Federal Reserve reaffirmed its aggressive policy to raise interest rates to fight inflation. The average interest rate for a 30-year fixed-rate mortgages for conforming loan balances rose to 6.52 percent from 6.25 percent. Points increased from 0.71 to 1.15, including the origination fee, for 80 percent of…
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