Tag Archives: Interest rates

While inflated home prices continue to dampen demand, home sales fell to a more than seven-year low in January, as rising rates continue to weaken home affordability.

According to a new Apartment List report, the Black homeownership rate currently stands at 44% nationwide, as white homeownership continues to exceed Black homeownership in each metro analyzed.

A new report from Redfin revealed the share of homes bought with cash is down slightly from November but remains elevated above pre-pandemic levels as high mortgage rates persist, averaging 6.36% in December.

According to new data from Optimal Blue, rate lock data showed moderate signs of an early-January rebound in purchase locks, while refis remain constrained despite a full percentage point rate decline since its October 2022 peak.

The Federal Open Market Committee moved to raise the nominal interest rate by 25 points to a range of 4.50-4.75% at the end of its February meeting.

As homebuyers nationwide face inflationary home prices, those who purchased a home relocated at an unprecedented rate in Q4, as elevated mortgage rates and economic uncertainty drove many homebuyers to more affordable areas.

A new study by Reggora has found that over the last 12 months, the time to process an appraisal has dropped steadily as volume has become more manageable per appraiser.

A new Veterans United Home Loans survey revealed that high home prices are among the top reasons that impact the decision to buy a new home among service members and Veterans. However, many remain optimistic about homebuying in 2023 despite ongoing affordability challenges.

According to a new study from Real Estate Witch, inflation has impacted an estimated 92% of millennials' homebuying plans, indefinitely delaying home purchases for many prospective buyers.

New Redfin data reveals that Google searches for “homes for sale” were up nearly 50% from their November low during the week ending January 7. Here’s what else the data reveals about the state of the housing market.