Home sales drop in April amid high mortgage rates and rising prices
High mortgage rates and rising prices continued to put a damper on the spring home-buying season last month. Existing home sales in April fell 1.9 percent to a seasonally adjusted annual rate of 4.14 million, from a revised 4.22 million in March, the National Association of Realtors said Wednesday. Sales were down nationwide, with declines […]
Home Sales Fell Again in April After High Mortgage Rates Damped Activity
“The Big Money Show” features Madison Ventures Managing Director Mitch Rochelle breaking down the housing market and highlighting some of the best places to live outside of big cities. Home sales fell for a second straight month in April as high mortgage rates and near-record home prices continue to stifle a thriving market. Existing home […]
Existing Home Sales Fall Amid Skyrocketing Prices and High Mortgage Rates
Sales of existing homes in the U.S. fell sharply in April as prospective buyers struggled with the prohibitively expensive housing market. The National Association of Realtors (NAR) announced Wednesday that home sales fell 1.9% in April to an annualized rate of 4.14 million units. The figure, which represents the number of homes that would be […]
Mortgage rates dip lower on positive inflation news, hold at near 7%: Freddie Mac
Buyers in the market saw borrowing costs fall slightly this week. (iStock) Mortgage rates rose above 7% again this week, but Freddie Mac said April’s inflation numbers were a promising step toward relief. The average interest rate on a 30-year fixed-rate mortgage for the week ending May 16 was 7.02%, according to Freddie Mac’s latest […]
Almost half of recent homebuyers stretch to make on-time mortgage payments: Study
In a recent survey, nearly half of new homebuyers said they were having trouble paying their mortgage on time, but many are still happy they chose to buy at the time of purchase. said. According to the survey, Conducted by real estate experts Clever states that 43% of recent homebuyers say they struggle to pay […]
Hotter inflation keeps mortgage rates higher, but housing inventory building: Fannie Mae
Fannie Mae has said that if inventory builds up and borrowing rates remain high for an extended period, home prices could fall. (iStock) With interest rate cuts further away, there is no end in sight for high borrowing costs. Still, a surge in housing inventory could give buyers more options, Fannie Mae said in a […]
Biden’s Migration Spikes Interest, Mortgage Rates
President Joe Biden’s mass immigration policies are driving up housing inflation, pushing up interest rates and mortgage rates, a newspaper report has revealed. wall street journal. Chicago Fed President Austan Goolsby said the recent supply of new apartments and homes should have led to a fall in home prices, but “they are not moving as […]
Mortgage rates dropped this week, but still sit above 7%: Freddie Mac
Interest rates on 30-year mortgages fell from 7.22% to 7.09%. (iStock) Mortgage rates have been rising steadily in recent weeks, but rates are finally starting to fall. As of May 9, the average 30-year fixed rate mortgage interest rate was 7.09%. Reported by Freddie Mac. This is a significant drop from last week, when interest […]
Federal Reserve Chairman: Migration Boosts Mortgage Rates
President Joe Biden’s immigration crisis is causing mortgage rates to rise, putting a strain on young couples and families, according to the president of the Minneapolis Fed. “The long-term impact of increased immigration on inflation is unclear, but immigrants still need a place to live, and their arrival in the U.S. likely increased demand for […]
Tunnel to Towers pays off mortgage for widow of fired FDNY firefighter
The Tunnel to Towers Foundation has paid off the mortgage for the family of the late former FDNY firefighter Derek Floyd. This is what his widow called a “miracle.” Floyd died of a heart attack last month, and his wife, Christine, was left with little money to cover their living expenses after being laid off […]