“I’m telling buyers that this is the first time in years they can get a deal on a house, even with high mortgage rates,” said Austin-area Redfin Premier Agent Carmen Gioia.
Read More »23-Year-High Mortgage Rates Further Suppress App Volume
With the 30-year, fixed-rate mortgage edging closer to eclipsing the 8% mark, the MBA reports overall application volume falling from last week’s total, dipping to the slowest weekly pace reported since 1995.
Read More »New Home Listings on the Rise
Redfin found that new home listings in September ticked upward, marking the largest increase recorded since February 2022. Click through to find how the overall market has been impacted.
Read More »Home Seekers Turn to Increased Multifamily Inventories in Many Cities
Busy cities are abuzz with new apartment buildings, which are now going up at the fastest rate recorded in decades. This new report spotlights the regions where multifamily construction is surging to keep up with demand.
Read More »Mortgage Rates Push Closer to the 8% Mark
“Incoming data shows that the construction of new homes rebounded in September, but as rates keep rising, home builders appear to be losing confidence,” said Freddie Mac Chief Economist Sam Khater. Check out the data and further insights after the link.
Read More »Mortgage Apps Dip to Levels Last Recorded in 1995
As mortgage rates drive upward for the sixth consecutive week, overall application volume fell after a week of rebounding, falling to levels last seen 28 years ago.
Read More »How Much Do First-Time Buyers Need to Make to Afford a Home?
“In a homebuyer’s ideal world, rising mortgage rates would push demand and home prices down enough to make up for high interest payments. But that’s not what’s happening now,” said Redfin Economics Research Lead Chen Zhao.
Read More »Homebuyers Backing Off Despite Increase in New Listings
According to a new Redfin report, new listings have ticked up, but near-8% mortgage rates are causing many potential homebuyers to retreat, as purchase applications remain near their lowest level in nearly 30 years.
Read More »Finding a Home Connection More Stressful Than Finding a Love Connection?
While purchasing a home can come with many challenges, according to a new Redfin survey, nearly 60% of recent homebuyers said purchasing a home is more stressful than dating, as mortgage rates remain at their highest level in more than two decades.
Read More »Homebuyer Demand Scales Back as Mortgage Rates Remain at 20-Year Highs
Mortgage rates rose 18 basis points week-over-week according to Freddie Mac, forced upward by the trajectory of the 10-year Treasury yield, shifts in inflation, and the labor market.
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