Category Archives: Mortgages

Uh oh

Posted on October 13, 2022 by grim

From CNBC: Inflation increased 0.4% in September, more than expected despite rate hikes Prices consumers pay for a wide variety of goods and services rose more than expected in September as inflation pressures continued to weigh on the U.S. economy. … Continue reading →

Posted in Economics, Mortgages | 76 Comments

The Realtors Said What?

Posted on October 5, 2022 by grim

From the NAR: Buckle Up: Home Prices Are Expected To Fall by a Lot—Even If There Isn’t a Recession The U.S. Federal Reserve has completely upended the housing market, taking it from turbocharged to rapid deceleration. The effects of the Fed’s … Continue reading →

Posted in Housing Bubble, Mortgages, National Real Estate | 44 Comments

So much for the mortgage industry

Posted on September 29, 2022 by grim

From CNBC: Mortgage refinancing drops to a 22-year low as interest rates surge even higher Mortgage rates drove even higher last week after the Federal Reserve signaled it would continue its aggressive action to cool inflation. That, and rising uncertainty … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 78 Comments

Foreclosures coming?

Posted on September 25, 2022 by grim

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 | 18 Comments

Decision Day

Posted on September 21, 2022 by grim

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?

Posted on September 18, 2022 by grim

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%

Posted on September 15, 2022 by grim

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

Posted on September 14, 2022 by grim

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

Posted on August 30, 2022 by grim

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?

Posted on August 21, 2022 by grim

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

Posted on August 19, 2022 by grim

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?

Posted on August 13, 2022 by grim

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…

Posted on June 16, 2022 by grim

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

Posted on June 14, 2022 by grim

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

Posted on June 7, 2022 by grim

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