Tag Archives: George Ratiu

Following a near-month-long 72-basis point rise, fixed-rate mortgages turned downward this week, signaling a potential reset in the housing market.

S&P CoreLogic Case Shiller reports that despite a 20.4% annual gain in April 2022, home prices in the U.S. were down slightly from 20.6% recorded the previous month.

Sales of new single‐family homes in May rose to 696,000, a 10.7% month-over-month rise of April’s recorded total of 629,000.

After a few weeks of decline, Freddie Mac reports mortgage rates hit a mark last seen in November 2008, having increased by more than two full percentage points since the beginning of 2022.

Freddie Mac reports that a decline in purchase activity, combined with increased inventory, will slow home price growth nationwide and give way to much-needed relief for prospective buyers.

Month-over-month, pending sales of homes in the U.S. remain in decline, as escalating rates have bumped up the cost of purchasing a home by more than 25% year-over-year.

The price of new home sales experienced a near 17% decline in April, hitting its lowest level in two years.

The rise in mortgage rates and inflationary concerns are impacting new residential construction, as borrower costs continue to force many prospective buyers to the sidelines.

The seven-week streak of rates on the rise has come to an end, as mortgage rates scaled back slightly, with a decline in demand expected to soften home price growth.

Up slightly from January’s total of 19.1%, home prices in the month of February continued to accelerate, recording a 19.8% annual gain.