Tag Archives: Hannah Jones

For the first time since April 2022, mortgage rates have surpassed the 7% mark, with many potential buyers now waiting to see where the market is headed, thus pushing home prices further downward.

Mortgage rates continue to force down application volume, with Freddie Mac reporting rates moving slightly upward yet again this week, adversely impacting the housing market as demand dwindles.

Mortgage rates jumped 23 basis points week-over-week, hitting a high mark last seen in late 2008, as heightened inflationary concerns are pushing more prospective buyers back to the sidelines.

Hitting the highest rate recorded in 15 years, housing completions rose in May, a sign that construction bottlenecks may be easing.

Freddie Mac reported that mortgage rates experienced the largest one-week spike since gauging the metric in 1987—nearly doubling year-over-year.

After weeks of rising mortgage rates, continued economic unpredictability has driven rates down slightly this week, as homebuilder sentiment hit its lowest level in 24 months.

New economic data finds that prospective buyers must withstand an impending whirlwind market heading into the new year.