Remove 2022 10 inflation-brings-savings-rate-down-in-september
article thumbnail

A refi wave is years away as mortgage rates settle at 7%

Housing Wire

With mortgage rates surging to the 7% mark, industry observers believe that a new refi wave won’t return for several years. The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage surged 26 basis points from last week to 6.92%, a record-setting climb to its highest level since April 2002.

As-is 370
article thumbnail

Home Shopping Season Brings More Motivated Home Buyers

Broke Agent Media

BAM Key Details: As mortgage rates fall from their 2022 peaks and home prices come down from theirs, more sellers are returning to the market to meet increasing buyer demand. As rates drop, buyers signing up for a $3,000 mortgage payment can afford homes costing $60,000 more and roughly 84 square feet larger than October 2022.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How Long Do Recessions Last? A Look at the Past for Clues

HomeLight

After a global pandemic, soaring home prices and bidding wars, raging-high inflation and recent interest rate hikes, it seems we’ve weathered enough economic drama for a lifetime. And yet, things are still getting funkier. Signs of recessions are mounting, sending consumer confidence plummeting to record lows. Get Estimate.

article thumbnail

Positive jobs report sends bond yields higher

Housing Wire

What I wrote on April 7, 2020, I truly believe on the economic front: “My faith in America winning has never let me down because I always believe in my people and country. Before the job openings data took off, I was very adamant on Twitter that JOLTS would hit 10 million soon. The unemployment rate currently stands at 4.0%.

article thumbnail

What Happens to My Mortgage if the Housing Market Crashes?

Marco Santarelli

In the summer of 2022, there is a lot of speculation in the media that the slowing housing market is an indication that the market is headed for a housing crash. Recessions are temporary pauses in an otherwise booming economy, but they have an impact on the housing market and interest rates. But is the housing market truly in a bubble?

article thumbnail

Who Wants To Talk About Interest Rates?

Toronto Realty Blog

The recent drop in Toronto home prices is solely due to the increase in interest rates. I would say that 7/10 of them are hearing me and in agreement…” She laughed. Now, I’m sure you want to hear about on of the 3/10, just for fun, right? Let’s start with a bang, shall we? Yay or nay? She understood.

article thumbnail

Top Ten Topics Of Discussion For 2023! (pt2)

Toronto Realty Blog

It’s just that in both cases, it’s impossible not to act accordingly… On Thursday, we looked at two huge topics of discussion for the 2023 real estate market: average home prices and a cornucopia of mortgage issues, specifically mortgage renewals, trigger rates, and interest rates. Because negativity sells!

Land 84