For Week Ending September 24, 2022 Lumber prices plunged to their lowest level in more than two years following the Federal Reserve’s 75-basis-point rate hike last week, as soaring mortgage interest rates and the slowdown in the US housing market … Continue reading
September 29, 2022 The uncertainty and volatility in financial markets is heavily impacting mortgage rates. Our survey indicates that the range of weekly rate quotes for the 30-year fixed-rate mortgage has more than doubled over the last year. This means … Continue reading
For Week Ending September 17, 2022 Mortgage rates topped 6% the week ending 9/15, as hotter-than-expected inflation helped push rates to their highest level since 2008 amid growing recession concerns. According to Freddie Mac, mortgage rates are now double what … Continue reading
Median sales price was up just 5.6 percent to $369,750, the smallest gain since June 2020 Buyer activity pulled back as pending sales fell 23.8 percent Homes took 26 days to sell, 18.2 percent longer than the 22 days last … Continue reading
September 22, 2022 The housing market continues to face headwinds as mortgage rates increase again this week, following the 10-year Treasury yield’s jump to its highest level since 2011. Impacted by higher rates, house prices are softening, and home sales … Continue reading
