Category Archives: Mortgages

Foreclosures coming?

From Patch: NJ Housing Market Troubles Loom As Foreclosures Surge: Reports With inflation still high, foreclosures nearing pre-pandemic levels and a recession potentially looming, new analysis warns that New Jersey has some of the nation’s most vulnerable housing markets. Meanwhile, … Continue reading

Posted in Economics, Foreclosures, Mortgages, New Jersey Real Estate | 14 Comments

Decision Day

From CNBC: Fed expected to hike rates by three-quarters of a point again, but its forecast may matter most It’s not what the Federal Reserve does, but what it says it could do in the future that will be most … Continue reading

Posted in Economics, Mortgages, National Real Estate | 122 Comments

Good time to buy?

From Fox Business: Redfin predicts sharpest turn in housing market since 2008 crash If you’re looking to buy a home soon, you’re in luck. After two years of record high sales, data shows the housing market is starting to cool down, but … Continue reading

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 42 Comments

6%

From Reuters: U.S. mortgage interest rates top 6% for first time since 2008 The average interest rate on the most popular U.S. home loan rose above 6% for the first time since 2008 and is now more than double the … Continue reading

Posted in Economics, Housing Bubble, Mortgages | 128 Comments

Hang on to your mortgage

From CNBC: Inflation rose 0.1% in August even with sharp drop in gas prices Inflation rose more than expected in August as rising shelter and food costs offset a drop in gas prices, the Bureau of Labor Statistics reported Tuesday. … Continue reading

Posted in Economics, Mortgages, National Real Estate | 56 Comments

This always ends well

From the FT: Big US mortgage lenders turn screws on smaller rivals as rates rise The two largest US mortgage lenders are turning up the heat on their smaller competitors, offering discounts and other incentives to win market share as … Continue reading

Posted in Housing Bubble, Mortgages, Risky Lending | 196 Comments

Oh well?

From Bloomberg: US Mortgage Lenders Are Starting to Go Broke The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the … Continue reading

Posted in Economics, Housing Bubble, Mortgages, Risky Lending | 33 Comments

Home sales plunge to two year low

From CNBC: Home sales fell nearly 6% in July as housing market slides into a recession Sales of previously owned homes fell nearly 6% in July compared with June, according to a monthly report from the National Association of Realtors. … Continue reading

Posted in Economics, Mortgages, National Real Estate | 62 Comments

Low rates – never again?

From the Washington Post: The Fed’s Damage to the Housing Market May Last Years With interest rates now hovering around 5%, existing-home sales are down more than 14% from last year. Some potential buyers are sitting on the sidelines until … Continue reading

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 54 Comments

Just wait until rents follow…

From Fortune: Mortgage rates hit 6.3%—the real cost to buy a house has officially spiked over 50% in just 6 months Heading into the year, Fannie Mae predicted that the average 30-year fixed mortgage rate would climb from 3.1% to 3.3% by the … Continue reading

Posted in Mortgages, National Real Estate | 176 Comments

Mortgage Rate Bloodbath

From Mortgage News Daily: Mortgage Rates Surge Well Into the 6% Range After One of The Worst Days in Decades It’s hard to quantify just how bad today was for mortgage rates because there’s no quality day-over-day mortgage rate data from before … Continue reading

Posted in Economics, Mortgages, National Real Estate | 161 Comments

“Tappable Equity” at $207,000 per Homeowner

From CNBC: Housing wealth gains a record $1.2 trillion, but there are signs the market is cooling Homeowners are in the money, and it just keeps coming. Two years of rapidly rising home prices have pushed the the nation’s collective … Continue reading

Posted in Demographics, Economics, Mortgages, National Real Estate | 287 Comments

At the top now?

From CNBC: Home listings suddenly jump as sellers worry they may miss out on the red-hot housing market Sharply higher mortgage rates have caused a sudden pullback in home sales, and now sellers are rushing to get in before the … Continue reading

Posted in Housing Bubble, Mortgages, National Real Estate | 119 Comments

We’ve been discussing this for the last 10 years…

From Yahoo Money: Mortgage rates hit highest level in 13 years and could cool housing market Mortgage rates hit their highest level since August 2009 this week, following a sharp increase in the 10-year Treasury yield and continuing a breakneck … Continue reading

Posted in Economics, Mortgages, National Real Estate | 62 Comments

Welcome to 2007

From Forbes: The housing market just hit a level not seen since 2007 The financial sting of soaring home prices—up 32.6% over the past two years—was lessened, to a degree, by historically low mortgage rates during the pandemic. Even as … Continue reading

Posted in Economics, Housing Bubble, Mortgages | 173 Comments