Tag: Mortgages
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Home prices fall in January and are even falling in some cities: S&P Case-Shiller
A “For Sale” sign outside a home in Atlanta, Georgia, on Friday, February 17, 2023. Dustin Rooms | Bloomberg | Getty Images Home prices fell just 3.8% nationally in January from a year earlier, according to the S&P CoreLogic Case-Shiller US National Home Price NSA Index. That is a decrease from the 5.6% in December. […]
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Home sales peak in February, median price falls
A “For Sale” sign outside a home in Atlanta, Georgia, on Friday, February 17, 2023. Dustin Rooms | Bloomberg | Getty Images Existing home sales rose 14.5% in February compared to January, according to a seasonally adjusted tally by the National Association of Realtors. That brought annual sales to 4.58 million units. It was the […]
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What happens during a ‘credit crunch’ and how to prepare for it
A credit crisis is a sharp tightening of credit conditions at banks. Loans are harder to get and more expensive. The banking crisis caused by the failures of Silicon Valley Bank and Signature Bank is likely to lead small and medium-sized institutions to prioritize healthy balance sheets. The prospect of a recession caused banks to […]
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Demand for mortgages is rising despite volatile interest rates
Demand for mortgages increased for the second week in a row, despite some volatility in mortgage rates. Total application volume rose 6.5% last week compared to the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) fell from […]
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Mortgage demand is recovering slightly, despite rising interest rates
A “For Sale” sign outside a home in Atlanta, Georgia, on Friday, February 17, 2023. Dustin Rooms | Bloomberg | Getty Images After falling to a 28-year low last week, demand for mortgages recovered slightly, even as interest rates rose. Total mortgage applications rose 7.4% last week, according to the Mortgage Bankers Association’s seasonally adjusted […]
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Mortgage rates back more than 7% as markets fear inflation
The average rate on the 30-year fixed mortgage rose more than 7% to 7.1% on Thursday, according to Mortgage News Daily. Growing fears that inflation will not cool are driving up bond yields. Mortgage rates loosely track the yield on the US 10-year Treasury. “Rates continue to move at the suggestion of economic data and […]
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Demand for mortgages falls when interest rates rise
A prospective buyer and her real estate agent view a home for sale at an open house in Parkland, Florida. Carline Jean | Tribune News Service | Getty Images Mortgage rates rose again last week, pushing buyers back to the sidelines just as the housing market should warm up in the spring. Mortgage applications to […]