The purchase of new homes fell last month as mortgage rates surged and sapped demand, the latest data from the U.S. Census Bureau show. “Sales of new single-family houses in September 2022 were at a seasonally adjusted annual rate of 603,000 … This is 10.9 percent below the revised August rate of 677,000 and is…
New Home Sales Fall as Mortgage Rates Rise, Eroding Demand
October 27, 2022
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Business & Marketseconomyinflationlack of affordabilityMarketsnew home salesreal estaterecessionrising mortgage ratesU.S. home pricesUSUS Real Estate
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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…
US Home Prices Slowed in August at Fastest Pace on Record: Report
U.S. home price increases in August slowed at the fastest pace on record amid surging mortgage rates, according to a new report. Prices climbed 13.0 percent nationally in August as compared with the previous year, or down from 15.6 percent in July, according to the S&P CoreLogic Case-Shiller index. It noted that it’s the largest deceleration…
Are Sizable Earnest Money Deposits Necessary?
Dear Monty: We are trying to buy a house, but the seller backed out of the sale. The real estate agent is holding our deposit until the seller pays their commission. I know this is not legal, but how can I get my large deposit back? Monty’s Answer: The seller signed two contracts in this…
Investing During a Recession
October 24, 2022
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Commentary Multifamily homes have been a great investment over the past two years. While the initial shock of the pandemic caused some concern about who could pay rent and what why would do if they couldn’t pay their rent, those concerns were largely allayed by the end of 2020. Smaller and mid-sized cities saw an…
Earn Less Than $100,000 per Year? You Could Be Priced Out of Rentals in America’s Top 15 Cities
If you earn less than $100,000 a year, you may find it difficult to secure a rental apartment in the top 15 cities in the United States. In fact, a recent report from Apartment Guide found that households need an annual income of at least $254,000 to rent an average apartment in New York City…
LIVE NOW: Housing Market Could Get Dicey: Investor; U.S. Midterm Campaign Finance Analysis | NTD Business
A veteran housing market investor tells us the current health of the market and whether he thinks a crash is coming. The midterms are only 18 days away. We look at campaign finance, and how it could affect America’s future direction. The U.S. budget deficit sees its largest 1-year drop ever. Why such a big…
Housing Market Could Get Dicey: Investor; US Midterm Campaign Finance Analysis | NTD Business
A veteran housing market investor tells NTD the current health of the market and whether he thinks a crash is coming. The midterms are only 18 days away. We look at campaign finance and how it could affect America’s future direction. The U.S. budget deficit sees its largest one-year drop ever. Why such a big…
How to Shop for a Low Mortgage Rate
October 21, 2022
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By Daniel Bortz From Kiplinger’s Personal Finance Looking to purchase a home in this market? Take these steps to qualify for the best mortgage rates. Increase your down payment To qualify for the lowest rates on a conventional loan backed by Fannie Mae or Freddie Mac—the nation’s two largest mortgage buyers—you’ll need a 20 percent…
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