Mortgage Rates Rise to Twenty Year High
Mortgage rates pressed higher again this week, reaching 20-year highs as markets digested economic developments on both sides of the Atlantic.
Market Trends
Declining Demand Drives Price Pullback
A sharp retreat in demand for housing has helped drive the market to rebalance – and prices to fall – even as listing activity remains subdued
Mortgage Rates Volatile, Roiled by Geo-Political Events
Markets were extremely volatile last week, roiled by geo-political events, economic data and concerns over the health of Credit Suisse, a large bank.
Home Buyers Are Paying More Attention to Flood Risk, But Not Other Climate Events
Evidence now suggests that while climate risks may not have dented demand for housing, they may be taking more of an active role in buyers’ and lenders’ decision-making processes.
August New Home Sales: New Sales Soar Past Expectations
Home builders have been pulling back single-family building activity in the face of diminishing demand for months, but new home sales in August blew the July numbers out of the water, up over a quarter from where they were a month ago
Mortgage Rates Move Up on CPI Data Release
While interest rates continue to be volatile as markets adjust expectations for Fed rate hikes, mortgage rates ended the week basically unchanged at about 6% for a 30-year fixed rate loan. Economic data and comments from Fed officials last week point to the Federal Reserve continuing to raise the Fed Funds rate until inflation is under control.
August Existing Home Sales: Sales Continue to Drop as Market Rebalances
As the housing market rebalancing pushes on, existing home sales have declined every month in 2022, reaching the lowest level in the past two years in August.
Buyers: Results from the Zillow Consumer Housing Trends Report 2022
A global pandemic, historic economic change and an unprecedented shift in the housing market have been hallmarks of the past year. But while these large-scale changes have shifted the landscape and have the potential to reshape buyers’ preferences over the longer term, many behaviors and attitudes remain the same.
Lack of affordability drives further price declines as rebalancing continues
Mortgage Rates Stay Flat as Inflation Persists
While interest rates continue to be volatile as markets adjust expectations for Fed rate hikes, mortgage rates ended the week basically unchanged at about 6% for a 30-year fixed rate loan. Economic data and comments from Fed officials last week point to the Federal Reserve continuing to raise the Fed Funds rate until inflation is under control.
