15-year fixed mortgage
Report: Mortgage Rates Surpass 7% For First Time Since May
According to a new report, mortgage rates increased this week, going above 7% ━ adding more pressure to the housing market.
Business
US existing home sales rebound in October
Existing home sales rebounded sharply in October as buyers rushed into the market to take advantage of a brief decline in mortgage rates.
30-year fixed mortgage
US new home sales slump to six-month low in May
Sales of new U.S. single-family homes dropped to a six-month low in May as a jump in mortgage rates weighed on demand.
big-ticket items
US consumer confidence retreats slightly; house prices remain elevated
The mixed survey also showed consumers’ perceived likelihood of a recession over the next 12 months retreated this month.
2022
Home Sales Drop For Third Straight Month, Prices Hit Record High
For the third straight month, sales of previously occupied U.S. homes fell in May as increasing mortgage rates and record-high prices discourage many potential homebuyers during what’s typically the housing market’s busiest period of the year.
30-year fixed-rate mortgage
US new home sales fall more than expected in October
Sales of new U.S. single-family homes fell more than expected in October, likely as higher mortgage rates reduced affordability.