Builder sentiment in the market for single-family homes fell into negative territory in August, as builders and buyers struggle with higher costs. The National Association of Home Builders/Wells Fargo Housing Market Index dropped 6 points in August to 49. Anything … Read More
Thursday – August 18, 2022 The National Association of REALTORS reports that Existing Home Sales fell 5.9% in July from June to an annual rate of 4.81 million units versus the 4.89 million expected. It was the sixth straight monthly … Read More
Thursday – August 11, 2022 Home borrowing costs rose this week but seem to be stabilizing after the surge in borrowing costs in the past 12 months. Freddie Mac reports that the 30-year fixed-rate mortgage increased to 5.22% from 4.99% … Read More
This year, the Federal Reserve has had to be very aggressive in their Fed Funds Rate hikes. Just this week, the Federal Reserve and its Chairman Jerome Powell raised the Fed Funds Rate up to 2.25%-2.50%. Powell raised concerns about … Read More
Thursday – August 4, 2022 Home borrowing costs fell this week and seem to be stabilizing after the surge in borrowing costs in the past 12 months. Freddie Mac reports that the 30-year fixed-rate mortgage fell to 4.99% from 5.30% … Read More
Thursday – July 28, 2022 Negative economic growth was reported for the second quarter of 2022 and comes after a negative print in the first quarter. The Bureau of Economic Analysis reports that the first read on Gross Domestic Product … Read More
Thursday – July 21, 2022 Home borrowing costs rose this week but seem to be stabilizing after the surge in borrowing costs in the past 12 months. Freddie Mac reports that the 30-year fixed-rate mortgage rose to 5.54% this week … Read More
Thursday – July 14, 2022 Home borrowing costs rose this week fafter the decline seen in the previous week. Freddie Mac reports that the 30-year fixed-rate mortgage rose to 5.51% this week from 5.30% last week with an average of … Read More
Wednesday – July 6, 2022 Mortgage rates eased again in the MBA’s latest survey after the spike in borrowing costs in the first half of this year. The 30-year fixed-rate mortgage fell 10 basis points to 5.74% with 0.65 points … Read More
The first half of this year was very hard on all fronts from the stock market to housing prices to higher mortgage rates. It was actually the worst first half of a year since 1788 right before George Washington became … Read More