After data showed inflation cooled in October, mortgage rates fell sharply on Thursday by its biggest ever margin, according to data from Mortgage Daily News (MDN). The Consumer Price Index (CPI) data released on Nov. 10 showed 12-month inflation growing by 7.7 percent in October, down from 8.2 percent in September, and below market expectations…
Mortgage Rates Decline Following Signs of Easing Inflation
November 11, 2022
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Chinese Builder CIFI Holdings Halts Foreign Debt Payments
News Analysis Chinese enterprise CIFI Holdings (00884.HK) recently announced that it had suspended all foreign debt payments due to deteriorating cash flow but would repay domestic debts to maintain domestic financing. This may indicate that Chinese firms are now cutting off their international capital ties amid tightened policies and turning to domestic investment to survive. CIFI Holdings stated…
Death of the American Dream and Home Ownership?
Homes historically have served as the primary store of value and wealth creation for most Americans. Housing represented one asset class that was available to both working and middle-class Americans, facilitated in part through government-sponsored entities (GSEs) such as Fannie Mae and Freddie Mac, formed following the Great Depression, that aggregated lender risk, created market…
Mortgage Demand Drops as Rates Rise to 7.14 Percent, Near Highest Level Since 2001
November 10, 2022
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With interest rates remaining high, demand for mortgages dropped during the week ended Nov. 4, according to the latest data from the Mortgage Bankers Association (MBA). The Market Composite Index, which measures mortgage loan-application volume, fell 0.1 percent from a week ago on a seasonally adjusted basis, according to an MBA press release on Nov. 9….
New South Wales May Be on Cusp of Stamp-Duty Reform
The New South Wales (NSW) premier has told the opposition to “get out of the way” as his signature reform to give first-home buyers more choice edges closer to becoming reality. Legislation to give first-home buyers the option to choose between paying an annual land tax or a larger one-off stamp duty payment on all…
American Homeowners Lost $1.3 Trillion in Home Equity in the Third Quarter
November 9, 2022
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In the third quarter, the market lost $1.3 trillion, or 7.6 percent in equity, as home values nationwide began to fall. This marked the largest quarterly decline on record, according to Black Knight, a mortgage software and analytics company. Following the unprecedented real estate boom of the last two years, signs of a slowing housing…
The Perfect Real Estate Transaction
Dear Monty: You describe your writing as advocacy for industry reform. You also stated that technology would replace real estate agents in the future. Others have similar thoughts, but I have yet to see any of them make a dent in the industry. I am a full-time real estate agent, and I am curious to…
Consumer Confidence in US Housing Market Plunges to Record Low, Says Fannie Mae
November 7, 2022
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Consumer confidence in the American housing market plunged to record low last month, according to a new survey. Growing mortgage rates, higher home prices, and economic instability have led to increased pessimism in the housing market nationwide. Only 16 percent of consumers surveyed said that they would consider buying a home in October, according to…
Americans Abandon Housing Hopes Amid Crushing Costs
The U.S. real estate market has begun to cool after two years of torrid growth, but soaring mortgage rates, punishing rents, and a shortage of available homes continue to thwart Americans on the hunt for affordable housing. The latest bad news for would-be homebuyers came on Wednesday, when the Federal Reserve approved another major hike…
Buying or Selling a Home When Mortgage Interest Rates Are High
November 5, 2022
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During these days when mortgage interest rates are high and the future of refinance rates unpredictable, you may be wondering whether you should buy or sell a home—or wait until better economic times. It may surprise you to know that now could be a good time for either move. Advantages of Selling Your Home When…
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