Tag Archives: Mortgage 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.

Continued economic growth and a rise in inflation have helped push mortgage rates up for the fourth consecutive week, making it difficult for potential buyers to jump into the purchase market.

According to a new ATTOM report, mortgage lending declined to its lowest point in nearly nine years in Q4 2022, while purchase loans decreased an estimated 26%.

“A lot of sellers who don’t get the price they had hoped for are taking their homes off the market. Many of them have a rock-bottom mortgage rate and figure they can wait to sell,” said Shay Stein, a Redfin real estate agent in the Las Vegas area.

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.

According to a new Redfin report, the Bay Area housing market lost more value in percentage terms than anywhere else in the country as demand waned, while Florida continued to see large gains.

According to the MBA’s Builder Application Survey, new home purchases applications decreased in January, although applications remain 42% higher compared to 2022’s totals.

Since the pandemic, the housing market has been tumultuous, to put it lightly. In a new blog post, First American Economist Ksenia Potapov discusses whether this year will follow the same course.

As mortgage rates climb toward 7%, the decline in new listings of homes for sale has slowed since December. A new Redfin report examines why many homebuyers continue to pull back from their home search.

After five consecutive weeks of decreases, a slight uptick in mortgage rates forced mortgage app volume to fall nearly 8% week-over-week.