Tag Archives: Mortgage Rates

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.

What caused the uptick in fixed mortgage rates, and what might it mean for the housing market in the months ahead?

“January’s HPSI results showed that consumer sentiment toward the housing market remains subdued by historical standards,” said Doug Duncan, Fannie Mae’s SVP and Chief Economist.

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.

“Mortgage rates inched down again, with the 30-year fixed-rate down nearly a full point from November, when it peaked at just over 7%,” said Sam Khater, Freddie Mac’s Chief Economist.

“This recent low point in home sales activity is likely over,” said Lawrence Yun, NAR’s Chief Economist. “Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.”

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.

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.

Bank of America has announced collaborations with Enterprise Community Partners and developers to preserve housing for middle-income earners, helping preserve more than 3,000 affordable homes nationwide.

A new study from LendingTree revealed some 80% of homebuyers in past two years don’t regret buying a home during the pandemic housing boom.