Tag Archives: Refinance

Home sellers are realizing it’s no longer their housing market

By | July 4, 2022

A growing number of home sellers have been forced to readjust their home prices in recent weeks. According to Redfin, an estimated 6.1% of homes for sale during the four weeks leading to June 19, asked for a price drop – a record high as far back as the data goes, through the start of 2015. That comes as… Read More »

JPMorgan Lays Off Hundreds in Home Lending After Rate Surge

By | June 22, 2022

The total affected will be more than 1,000 US workers, with about half moved to different divisions within the bank, according to people familiar with the matter who asked not to be identified discussing personnel matters. “Our staffing decision this week was a result of cyclical changes in the mortgage market,” a JPMorgan spokesperson said in a statement… Read More »

5 signs the housing market is starting to slow down

By | June 20, 2022

There is a shift happening in the housing market. After more than a year of soaring demand, exploding home prices and increasing real estate sales, the market finally seems to be cooling off. “The housing market isn’t crashing, but it is experiencing a hangover as it comes down from an unsustainable high,” said Taylor Marr, Redfin deputy chief… Read More »

U.S. mortgage interest rates jump to highest level since 2008

By | June 15, 2022

The average interest rate on the most popular U.S. home loan climbed to its highest level since the 2008 financial crisis and purchase applications were down more than 15% from last year, Mortgage Bankers Association (MBA) data showed on Wednesday. Still, more homebuyers sought properties compared to a week earlier, perhaps signalling a flurry of activity before aggressive… Read More »

Prepare yourself: ‘The U.S. housing market is at the beginning stages of the most significant contraction in activity since 2006’

By | June 11, 2022

The U.S. housing sector is in the midst of the biggest slowdown in over a decade, one economist says. But don’t expect prices to fall back down to earth just yet. “The U.S. housing market is at the beginning stages of the most significant contraction in activity since 2006,’” Len Kiefer, deputy chief economist at Freddie Mac tweeted. “It… Read More »

‘Not pretty’: Rising mortgage rates slam the gate shut on hopeful homebuyers

By | June 11, 2022

U.S. mortgage rates moved back up in anticipation of next week’s Federal Reserve meeting, where policymakers are expected to hike the benchmark borrowing rate for the third time this year. The increase on the 30-year fixed-rate mortgage follows a three-week stretch of declining rates — a boon to borrowers looking to buy before loans got even more expensive. For many,… Read More »

Mortgage rates back up again and homebuyers call it quits

By | June 9, 2022

Mortgage rates are back up again this week after three straight weeks of declines. The rate on the 30-year fixed rate mortgage hit 5.23%, up from 5.09% last week, according to Freddie Mac, tracking the 10-year Treasury yield, which spiked near 3% as investors scrambled ahead of a key inflation reading on Friday. Persistently high rates coupled with a… Read More »

Lumber Is the Cheapest in Seven Months as Housing Markets Soften

By | June 1, 2022

The days of pricey lumber might finally be over. Lumber futures are toppling to levels not seen since November amid fears of a softening housing market and economic recession. Futures fell as low as $604.50 per 1,000 board feet in Chicago on Wednesday, extending a slump to about 46% this year. The commodity’s collapse is a stark reversal… Read More »