U.S. mortgage rates dropped from an eight-month high, after nearing 7 percent last week, as inflation slows ahead of next week’s Federal Reserve policy meeting. The Fed’s aggressive interest-rate hike policy sent mortgage rates well above 7 percent last year, causing the once booming housing market to crash. Rates have been slow to decline from the nearly two-decade high,…
US Mortgage Rates Fall in Biggest Decline Since March
July 21, 2023
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Home Prices Hit Record High As Housing Supply Shortage Worsens
July 14, 2023
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Home prices hit a record high again in May, amid a worsening supply shortage in the housing market. The sharp jump in mortgage interest rates in last year caused an overheated housing market to slow down, but the slump did not last long. The cost for a home, which has been rising since the start…
Mortgage Rates Soar to Highest Level for the Year
July 8, 2023
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U.S. home mortgage rates soared towards 7 percent this week, pushing away many potential home buyers as affordability pressures for some pushed home ownership further out of reach. The average rate on the popular 30-year fixed mortgage hit 7.22 percent on July 6, reaching its highest point since November, according data published by to Mortgage News…
Toronto Home Sales and Prices up From Last June, Down From May: TRREB
Toronto homebuyers that snapped up a property last month paid more on average than they did a year ago but less than they would have if they closed the deal in May, the Toronto Regional Real Estate Board said Thursday. The Ontario housing board made the same observation about last month’s sales figures and attributed…
Orange County Jobs Increasing, Home Prices Declining: Cal State Fullerton Study
June 6, 2023
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Jobs are on the rise in Orange County, California, while home prices are headed in the other direction, according to the recent Spring Economics Forecast released by the Woods Center for Economic Analysis and Forecasting at California State University–Fullerton. “In some cases, the actual data itself seem to spew a mixture of confusing narratives,” the…
Home Prices Rose in March for Second Time After Months of Declines
Home prices across the United States rose for the second consecutive month in March amid widespread shortages and inventory issues, according to data published on May 29. Home prices increased by 0.4 percent nationwide month over month, data from the S&P CoreLogic Case-Shiller US National Home Price index showed. That marked the second month in a row of gains after…
Forget the CPI: Real Inflation Is Much Higher
May 10, 2023
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Commentary This morning’s release of April’s Consumer Price Index (CPI) data showing inflation had fallen from 5.0 percent in March to 4.9 percent annually was received as a disappointing reminder that inflation, while down from highs in the summer of 2022, is far from behind us. Yet there is increasing evidence to support the suspicion…
Moody’s Forcasts 10 Percent Fall in House Prices Over Next 2 Years Amid Higher Rates
April 24, 2023
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The American housing market may fall even further as rising mortgage rates suppress demand and the stock of new homes begins to grow, according to Moody’s. Home prices are expected to tumble between 5 and 10 percent over the next two years, Moody’s economist, Matthew Walsh, told Yahoo Finance in an April 18 interview. Walsh noted a…
Report Finds ‘Growing Mismatch’ Between Housing Demand and Supply in Canada
Canada’s housing market is not only facing the challenges of rising prices and supply shortages, but there is also a “growing mismatch” between the housing types being built and those preferred by many Canadians, according to a new report. The report, published by the Fraser Institute on April 13, found that real estate markets Canada-wide…
Report Finds ‘Growing Mismatch’ Between Demand and Supply in Type of Housing in Canada
Canada’s housing market is not only facing the challenges of rising prices and supply shortages, but there is also a “growing mismatch” between the housing types being built and those preferred by many Canadians, according to a new report. The report, published by the Fraser Institute on April 13, found that real estate markets Canada-wide…
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