The median monthly asking rent in the U.S. surpassed a whopping $2,000 for the first time in May rising 15% year-over-year to a record high of $2,002—according to ...
Read More »Mortgage Rates Continue Upward Climb, Hit 14-Year High Point
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.
Read More »Mortgage Payments Outpace Rent in Majority of U.S. Metros
As housing costs rise and demand begins to slow, inventory continues to recover from February lows, as new data reveals mortgage payments have surpassed rents in 45 of the 50 largest U.S. metros.
Read More »Cause and Effect: Budgets Flatten as Rates Rise
Wages are up, but homebuyer budgets have remained flat over the past three months, meaning the market is seeing its slowest growth rate in two years. This information ...
Read More »Rate/Term Refinances Down 90% YoY
Black Knight Inc., has released the latest iteration of its Originations Monitor Report for May 2022 which looks at declining mortgage production and rate locks despite a plateau in interest ...
Read More »Rising Rates Adding up to Mountains of Extra Interest
Mortgage rates have surpassed 5% lately, due in large part to increases to the federal interest rate by the Federal Reserve who in addition to raising the rate twice ...
Read More »Americans Still Want Homes Amid Rising Affordability Concerns
By all available means, data, and metrics, housing prices are still soaring. The growth seen by the typical single-family home over the past two years has been blistering ...
Read More »New Home Purchases Decrease in February
According to the Mortgage Bankers Association's Builder Application Survey (BAS), data for February 2022 shows mortgage applications for new home purchases decreased by 1%, but on a year-over-year basis applications are ...
Read More »Fed Raises Rates for First Time in Four Years
It has been 732 days since the Federal Reserve Open Market Committee (FOMC) cut interest rates in an emergency meeting in light of the then-blossoming COVID-19 pandemic. But all ...
Read More »Following the Growth of Home Prices, Tappable Equity Grows Too
According to a new report, the market holds $10 trillion in tappable equity, up 35% from last year.
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