Quotes from the news wire:
Potential buyers continue to face elevated mortgage rates and home prices, making buying less accessible than a year ago, however, home prices continue to show signs of softening, a welcomed development for buyers. This week’s rate also creates an opportunity for potential buyers to dive in while rates are slightly lower. Pent-up housing demand is evident with every gain in affordability, whether it be softening prices or lower mortgage rates.
Found on CNN 1 year ago
As the dust settled after last week’s FOMC meeting, markets adjusted to the short- and long-term implications of higher interest rates and the possibility of stricter lending requirements, along with a possible end to rate hikes on the horizon.
Found on CNN 1 year ago
These factors create a less hospitable borrowing environment, which would serve to bring inflation closer to a healthy level, more expensive, stricter lending helps to usher in the long-term health of the economy, but the downside is that borrowing for large purchases, including a home purchase, may be relatively more challenging in the short term.
Found on CNN 1 year ago
Pent-up housing demand is evident with every gain in affordability, whether it be softening prices or lower mortgage rates, as the prime spring buying season takes off, buyers will be looking for well-priced, ready-to-move-in homes.
Found on CNN 1 year ago
At the current price and mortgage rate level, the typical housing payment on a median-priced home is 43% higher than one year ago.
Found on CNN 1 year ago
Each downward tick in mortgage rates is met with increased buyer demand, as many eager home shoppers take advantage of the slightly lower cost of financing a home, home shoppers are looking to find the optimal combination of prices and mortgage rates before entering the market.
Found on CNN 1 year ago
Depending on the extent of the impact of a tighter banking sector, Powell expressed a ‘wait-and-see’ approach to further contractionary policy, however, the federal funds rate is expected to remain elevated through the end of the year, meaning that a higher interest rate environment is here to stay for the time being, including for home loans.
Found on CNN 1 year ago
Pent-up housing demand continues to be sensitive to mortgage rate changes as potential buyers take advantage of any improvement in affordability.
Found on CNN 1 year ago
The flight to government bonds resulted in yields on the 10-year Treasury note falling from near 4% at the beginning of last week to 3.4% by mid-week, thereby reversing the recent trend of climbing mortgage rates.
Found on CNN 1 year ago
At the beginning of last week, Federal Reserve Chair Jerome Powell suggested that more aggressive rate hikes may be necessary to rein in inflation, which led to a sharp drop in the stock market and an increase in mortgage rates.
Found on CNN 1 year ago
Sellers can drum up buyer demand during the approaching best time to sell by ensuring their home is well-priced and well-maintained.
Found on CNN 1 year ago
All else being equal, this would likely mean a more aggressive rate hike at next week’s FOMC meeting, however, in light of last week’s bank failures, the committee may choose to remain conservative to ensure stability in the economy.
Found on CNN 1 year ago
As winter turns to spring, buyers and sellers tend to re-enter the housing market, this year, both prices and mortgage rates are higher than a year ago, resulting in a 50% increase in housing costs for the typical US home.
Found on CNN 1 year ago
While that brings greater supply to the market, most of it will be used for rentals and won’t address ongoing affordability challenges in the for-sale space.
Found on CNN 1 year ago
Cooling buyer demand and builder confidence led to slower single-family construction and a shift in builder focus to multi-family last year.
Found on CNN 1 year ago
Mortgage rates took a breath in December and January before resuming their climb in February, reaching 6.5%, the highest level of the new year.
Found on CNN 1 year ago
New listings were at the lowest level in the last six years in January as sellers stayed on the sidelines, waiting to see buyers return, before placing their homes for sale, however, the first month of the year brought glimmers of hope as year-over-year declines in both existing and new home sales slowed, and buyer sentiment improved slightly.
Found on CNN 1 year ago
As a result, many buyers remain on the sidelines, waiting for conditions to improve.
Found on CNN 1 year ago
The ongoing lack of affordability has limited buyer activity this winter, but this month’s retreat in mortgage rate has shown how eager buyers are to get back into the market, lower interest rates and the coming spring homebuying season promise more opportunities for buyers and sellers alike.
Found on CNN 1 year ago
Should home completions ramp up, buyers will see some relief in the form of increased housing supply, despite lower near-term housing demand, the need for new construction remains pressing to close the sizable decade-long housing supply gap and create a more favorable environment for buyers.
Found on CNN 2 years ago
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