Tag Archives: Realtor.com

A market reset may be underway, as fixed-rate mortgages fell just below 5% for the first time since April 7, continuing a trend of instability amid inflationary pressures and a slowdown in economic growth.

In anticipation of another rate hike by the Federal Reserve, mortgage rates retreated downward this week, as purchase demand continued to fall, as the prospect of a recession continues to loom.

Month-over-month, home prices fell 0.9% in May, as CoreLogic S&P Case-Shiller reports actions by the Federal Reserve to cool the market have made mortgage financing more expensive for buyers nationwide.

In 38 of the 50 largest U.S. metros, the monthly cost of renting a home is lower than buying a starter home. The median listed rent across these 50 analyzed metros was $1,876, growing by 14.1% during June 2021.

HUD and the Census Bureau report that single‐family housing starts in June were 8.1% below May’s figure, as builder confidence continues to fall.

Freddie Mac reports that mortgage rates climbed back upward to 5.51% this week, just one week after a sharp drop and paced by “runaway” inflation.

Realtor.com reports that home price growth is expected to ease in the weeks ahead, pointing toward a rebalancing of market conditions.

Fixed-rate mortgages took a 0.40% dip this week on the heels of recent volatility of the 10-year Treasury yield.

The first numbers from June are in, and Realtor.com found inventory to be up over 18% since May but still down year-over-year.

Following a near-month-long 72-basis point rise, fixed-rate mortgages turned downward this week, signaling a potential reset in the housing market.