Tag Archives: Homebuyers

[unable to retrieve full-text content]How rich homebuyers are avoiding high mortgage rates  Yahoo Finance Source link

[unable to retrieve full-text content]Half of Zillow’s top cities for first-time homebuyers are in the Midwest  Yahoo Finance Source link

Real estate agents confirm what housing data is starting to show: More homebuyers are emerging from their self-imposed hibernation. The volume of mortgage applications for home purchases rose 25% week over week, the Mortgage Bankers Association (MBA) survey for the week ending Jan. 13 found. Housing sentiment ticked higher at the end of last year, per Fannie Mae. And home builders are reporting an increase in buyer traffic in January, the first uptick since December 2021, according to an… Source link

Homebuyers are having a ‘come to Jesus’ moment as mortgage rates now top 7% — here’s when things are expected to get better The rate on America’s most popular home loan has topped 7% for the first time in 20 years as the housing market faces a potentially lengthy slowdown. Rapidly rising mortgage rates have taken a toll on home buying, and forecasts show continued weakness into 2023. Home sales and new listings have hit record lows since the early days of the pandemic, and more than… Source link

‘Unhealthy and unsustainable’: Homebuyers aren’t buying and homebuilders aren’t building in the face of untamed mortgage rates U.S. mortgage rates crept up once again this week as demand for home loans tumbled, according to a pair of widely followed reports. Buyers and sellers are increasingly on edge as the average 30-year fixed mortgage rate — now more than double what it was at the beginning of the year — inches closer to 7%. Homebuilders, too, are losing confidence in the… Source link

‘The numbers just don’t work’: While rising mortgage rates have some homebuyers giving up, others think they’ve found a workaround America’s most popular home loan got more expensive again this week, striking yet another blow to haggard home shoppers staring at the steepest borrowing costs in 20 years. The average 30-year fixed mortgage rate — now flirting with the 7% mark — is more than double what it was at the beginning of the year. Even as the surge in home prices continues to… Source link

(Bloomberg) — Across China, homebuyers are refusing to pay mortgages as property developers drag on construction projects, escalating the country’s real estate crisis and risks of bad debt for banks. Most Read from Bloomberg Buyers of 35 projects across 22 cities have decided to stop paying mortgages as of July 12 due to project delays and a drop in real estate prices, Citigroup Inc. analysts led by Griffin Chan wrote in a research report distributed on Wednesday. The payment refusals… Source link

‘How quickly the tables have turned’: Falling mortgage rates have homebuyers so emboldened they’re asking sellers for cash After a string of steady increases, mortgage rates fell this week — a mixed blessing for the fragile U.S. economy. The lower rate on a 30-year fixed mortgage is a relief for home shoppers who have been watching rates climb, but it’s also a sign that a recession could very well be around the corner as the market slows. Rates tend to mirror 10-year Treasury yields,… Source link

Mortgage rates fall a third week in a row as housing market tilts in homebuyers’ favor Mortgage rates fell again this week amid relentless inflation and persistent doubt around the health of the U.S. economy. The rate drop — the third in as many weeks — was slight but still meaningful given rising home prices and generally higher borrowing costs. America’s most popular home loan — the 30-year fixed mortgage — is still significantly more expensive than it was last year. That’s… Source link

The years-long hot housing market has shown signs of cooling off. Mortgage rates over a weeklong period earlier this month topped 4% for the first time in three years — and the rise will likely continue as the Federal Reserve pursues a series of interest rate hikes this year. But persistent inflation and rising interest rates shouldn’t scare off homebuyers, real estate guru and “Shark Tank” panelist Barbara Corcoran told Yahoo Finance. Instead, aspiring homeowners should jump into the market… Source link