Tag Archives: 30-year fixed mortgage rate

”It shows that the Fed’s interest-rate hikes are working and increases the chance they’ll only hike rates one more time this year,” said Redfin Economic Research Lead Chen Zhao.

According to a new report from Redfin, near-7% mortgage rates continue to prevent both would-be homebuyers and potential home sellers from entering the market, despite the construction of new single-family homes nearing their highest level in almost 20 years.

According to a new report from Redfin, while the typical U.S. home costs an estimated 25% more per month to own than rent, homebuying is only more affordable than renting in Detroit, Philadelphia, Cleveland, and Houston.

While spring is typically a hot homebuying season, new listings of homes for sale dropped 19% year-over-year in May, according to a new report from Redfin, leaving homebuyers circling an even smaller pool of listings.

“By Super Bowl weekend, we usually have a good idea how a given year’s housing market will play out. But this year is anything but typical,” said Redfin Economics Research Lead Chen Zhao.

The latest Mortgage Monitor Report published by Black Knight revealed that, even amid typical seasonal downturns, rate lock volumes declined to record lows in year-end data.

Overall mortgage application volume dipped yet again this week, falling 1.2% week-over-week according to the MBA, with rates edging near the 6%-mark and forcing more homebuyers to the sidelines.