Category Archives: Mortgages

Spring!

Posted on March 27, 2023 by grim

From Fox News: Spring home buying season shows ‘steady demand’ as mortgage rates slip for second week The spring home buying season is showing “steady demand” as mortgage rates slip for a second week in a row.  On Wednesday, the Federal … Continue reading →

Posted in Housing Bubble, Mortgages, National Real Estate | 158 Comments

Don’t sell, rent.

Posted on March 23, 2023 by grim

From Fortune: Homeowners who held onto a 3% mortgage rate are becoming ‘accidental landlords’ The era of lower-than-ever mortgage rates is long gone, and it’s been replaced with rates hovering around 7%. But homeowners who locked in lower ratesbefore or during … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 140 Comments

NAR: First price decline in 11 years

Posted on March 22, 2023 by grim

From CNBC: Home sales spike 14.5% in February as the median price drops for the first time in over a decade Sales of previously owned homes rose 14.5% in February compared with January, according to a seasonally adjusted count by … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 93 Comments

Mortgage rates drop

Posted on March 14, 2023 by grim

From CNBC: Mortgage rates tumble in the wake of bank failures The average rate on the popular 30-year fixed mortgage dropped to 6.57% on Monday, according to Mortgage News Daily. That’s down from a rate of 6.76% on Friday and a … Continue reading →

Posted in Economics, Housing Recovery, Mortgages, National Real Estate | 115 Comments

Will we see 8?

Posted on March 8, 2023 by grim

From Mortgage News Daily: Mortgage Rates Head Back Over 7% After Powell Testimony Jerome Powell is the Chair of the Federal Reserve–the entity that sets overnight lending rates in an attempt to keep inflation in a low, stable range.  Inflation … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 136 Comments

Finally, prices fall…

Posted on March 4, 2023 by grim

From the NY Post: US home prices just did something they haven’t done since 2012 US home prices in February posted their first year-over-year decline in more than a decade as surging mortgage rates put the squeeze on the market. … Continue reading →

Posted in Economics, Employment, Housing Bubble, Mortgages, National Real Estate | 55 Comments

Back to 7%

Posted on March 3, 2023 by grim

From CNBC: Mortgage rates jump back over 7% as inflation fears drive yields higher The average rate on the 30-year fixed mortgage jumped back over 7% on Thursday, rising to 7.1%, according to Mortgage News Daily. Growing fears that inflation is … Continue reading →

Posted in Mortgages, National Real Estate | 77 Comments

The mighty will fall

Posted on February 28, 2023 by grim

From the NY Post: Home prices set for double-digit plunge in major Western US cities: Goldman Sachs Four US cities that experienced housing booms during the COVID-19 pandemic are set for major declines in home prices by the end of next year, … Continue reading →

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

Just the beginning?

Posted on February 13, 2023 by grim

From DSNews: January Foreclosure Filings Up 36% YoY Foreclosure volume continues in America, with year-end totals reaching 31,557, which includes default notices, scheduled auctions, or bank repossessions, a 36% increase compared to the previous year. The numbers reported in January … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate, Risky Lending | 129 Comments

Corelogic December Housing Market Data

Posted on February 9, 2023 by grim

From CoreLogic: U.S. Home Price Insights – February 2023 December 2022 National Home Prices Home prices nationwide, including distressed sales, increased year over year by 6.9% in December 2022 compared with December 2021. On a month-over-month basis, home prices declined … Continue reading →

Posted in Economics, Housing Bubble, Housing Recovery, Mortgages, National Real Estate | 87 Comments

30yr fixed dips below 6%

Posted on February 5, 2023 by grim

From Insider: Mortgage rates are falling back near 6%, reopening the housing market for 3 million home buyers, according to Freddie Mac Mortgage rates are falling back near 6%, and that could help reopen the housing market to about 3 … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 132 Comments

Fed Day!

Posted on February 1, 2023 by grim

From Reuters: Fed expected to deliver small rate hike but keep anti-inflation tilt The Federal Reserve is expected to raise its target interest rate by a quarter of a percentage point on Wednesday, setting aside the rapid hikes used last … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 145 Comments

Sounds like more of the usual

Posted on January 28, 2023 by grim

From NJ Business: Year-end NJ Housing Data Shows Market Softening Rising interest rates, low inventory, and climbing prices have cooled the housing market in 2022, with closed sales down 17.8% over 2021, according to year-end data reports from New Jersey … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, New Jersey Real Estate | 59 Comments

Worst behind us?

Posted on January 26, 2023 by grim

From the NY Post: Here’s when US home price declines could end, Goldman Sachs says The ongoing plunge in US home prices may be nearing its end, Goldman Sachs analysts said in a note to clients this week. Long-term mortgage … Continue reading →

Posted in Demographics, Economics, Employment, Housing Recovery, Mortgages, National Real Estate | 120 Comments

Hey 2010!

Posted on January 21, 2023 by grim

From Reuters: U.S. home sales slump to 12-year low; glimmers of hope emerging U.S. existing home sales plunged to a 12-year low in December, but declining mortgage rates raised cautious optimism that the embattled housing market could be close to … Continue reading →

Posted in Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 90 Comments