Tag Archives: Mortgage Rates

Even the most affordable metro areas analyzed in NerdWallet's latest Q2 housing activity report experienced price increases that decreased overall affordability, as rising home prices and high interest rates continue to make the homebuying process even more difficult for potential first-time buyers.

Redfin's latest housing market update showed that the total share of homes on the market is down nearly 18% year-over-year, representing the biggest decline since February 2022. A significant lack of homes for sale caused home prices to rise nearly 5% annually, as mortgage-purchase applications remain at their lowest level in nearly three decades.

Due to a plunge in home prices in the popular Bay Area metro, San Francisco homeowners were most likely to lose money when selling their home. According to a new Redfin report, the typical San Franciscan seller who took a loss sold their home for $100,000 less than they bought it for.

While economic uncertainties remain a struggle for many Americans, rate hikes continued to slow overall housing market activity in August as mortgage rates reached their highest in over two decades, according to HouseCanary's Market Pulse report.

U.S. home prices experienced the biggest increase in 10 months due in part to a significant lack of inventory, increasing 5% year-over-year. Meanwhile, homes in the popular Miami metro surged 17% from last year.

After the fixed-rate mortgage hit levels recorded 21 years ago, Freddie Mac reported a five-basis point week-over-week slip in rates, and despite continued high rates, the nation’s short supply is keeping house prices steady.

A new mortgage report from ATTOM revealed U.S. lenders issued approximately $494 billion worth of residential mortgages in Q2 of 2023, while total activity rose after eight straight quarterly declines to 21%.

"The small gain in contract signings shows the potential for further increases in light of the fact that many people have lost out on multiple home buying offers," said NAR Chief Economist Lawrence Yun.

Five Texas metros topped the top 10 list of best places to purchase a home, according to a new study from WalletHub, which examined the strongest local real-estate markets throughout the U.S.

As the average 30-year fixed mortgage rate nears 8%, new commentary from First American Chief Economist Mark Fleming details the predictions of where mortgage rates will end up throughout the remainder of the year.