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.
2023
Report: Average Age Of U.S. Homebuyers Reaches Record High Of 56
A new report suggests that the average age of an American homebuyer in the U.S. has hit a record high of 56-years-old, according to the National Association of Realtors’ (NAR) yearly state-of-the-market report released on Monday.
Anju Vajja
US house prices fall on monthly basis in June
House prices dipped 0.1% on a month-on-month basis after being unchanged in May, the Federal Housing Finance Agency said on Tuesday.
Biden Administration
U.S. Inflation Hits 2.9% In July, Opening Possibility For Fed To Start Cutting Rates
U.S. inflation rose 2.9% in July versus a year ago, which fell below expectations in a result that likely paves the way for the Federal Reserve to finally begin cutting interest rates next month.
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.
Accenture
S&P 500 notches record high as Nvidia rally continues
The benchmark S&P 500 touched a record high on Thursday, boosted by strong gains in Nvidia.
30-year fixed mortgages
Mortgage Demand Drops To 3-Month Low As Interest Rates Increase For First Time In A Month
A key measure of home-buyer applications fell to a three-month low as mortgage rates started to rise again.