30-year fixed mortgage
Instant Reaction: Mortgage Rates, March 2, 2023 – NAR.realtor
Instant Reaction: Mortgage Rates, March 2, 2023 NAR.realtor
Todayâs Homeowners Canât Afford to Sell
The housing bears have ratcheted up their rhetoric lately, calling for an impeding crash. Itâs not a crazy notion with home prices clearly unaffordable and mortgage rates no longer anywhere near 3%. But generally, a crash or bubble is preceded by creative financing of some sort. Back in 2006, it was zero down mortgages, stated… Read More »Todayâs Homeowners Canât Afford to Sell
The post Todayâs Homeowners Canât Afford to Sell appeared first on The Truth About Mortgage.
Why You Might Still Be Seeing 5% Mortgage Rates
Itâs been tough sledding for mortgage rates over the past month. They were actually on a roll to start off 2023, falling for the entire month of January before things took a nasty turn. Without getting too long-winded here, strong economic data pushed rates back toward decade highs. The culprits were a CPI report and… Read More »Why You Might Still Be Seeing 5% Mortgage Rates
The post Why You Might Still Be Seeing 5% Mortgage Rates appeared first on The Truth About Mortgage.
Mortgage and refinance rates today, February 27, 2023: Rates rise – Bankrate.com
Mortgage and refinance rates today, February 27, 2023: Rates rise Bankrate.com
Pending Home Sales Rose Sharply in January
Not only did pending home sales increase for the second month in a row in January, but the increase was the largest since the June 2020 rebound from the pandemic plunge. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) rose 8.1 percent in January to a reading of 82.5. This was on top of a 2.5 percent gain in December. [pendinghomesdata] The PHSI is based on contracts to purchase existing single-family homes, townhouses, condominiums, and cooperative apartments. It is a leading indicator of existing home sales over the following one to two months. Prior to the December uptick, pending home sales had fallen for 13 straight months. Last monthâs PHSI reading was down 24.1 percent compared to the January 2022 level of 108.7. The Index was benchmarked at 100 in 2001. Analysts polled by both Econoday and Trading Economics had been expecting only a 1.0 percent increase in pending sales. NAR Chief Economist Lawrence Yun said, âBuyers responded to better affordability from falling mortgage rates in December and January. Home sales activity looks to be bottoming out in the first quarter of this year, before incremental improvements will occur,â He expects that we will not see an annual gain in home sales until 2024. âMeanwhile, home prices will be steady in most parts of the country with a minor change in the national median home price,â he said. NAR anticipates that the economy will continue to add jobs throughout 2023 and 2024, with the 30-year fixed mortgage rate steadily dropping to an average of 6.1 percent in 2023 and 5.4 percent in 2024.
Delayed Reaction? Treasury Yields Jump, Mortgage Rates Spike 40 … – Seeking Alpha
Delayed Reaction? Treasury Yields Jump, Mortgage Rates Spike 40 … Seeking Alpha
Current mortgage and refinance rates for February 21st, 2023: Rates … – Bankrate.com
Current mortgage and refinance rates for February 21st, 2023: Rates … Bankrate.com
Today’s Mortgage and Refinance Rates: February 25, 2023 | Rates … – Business Insider
Today’s Mortgage and Refinance Rates: February 25, 2023 | Rates … Business Insider