The housing market is gearing up for its busiest season yet, with prices soaring and mortgage rates on the rise. According to Dow Jones Market Data, the 10-year Treasury yield, which is a key indicator for mortgage rates, reached 4.163% on Monday. This increase, along with Friday's surge, marks the largest two-day gain since June 2022. The rise in yield comes as a result of … [Read more...] about The Housing Market Prepares for Another Busy Season
Mortgage Rates
China’s Significant Mortgage Rate Cut
China recently implemented its most substantial reduction in mortgage rates, aiming to provide much-needed support to the struggling property sector. Despite this effort, the response from stock markets remained relatively subdued. Key Details: The People’s Bank of China announced a 25 basis points cut to the country’s five-year loan prime rate (LPR), bringing it down to … [Read more...] about China’s Significant Mortgage Rate Cut
Mortgage Rates See Third Consecutive Weekly Decrease
The latest data suggests that mortgage rates have fallen for the third consecutive week, signaling a potential slowdown in inflation. As of November 16, the 30-year fixed-rate mortgage averaged 7.44%, a decrease of 6 basis points from the previous week. This figure is also lower compared to the 7.5% average from the same time last year. In addition, the average rate on the … [Read more...] about Mortgage Rates See Third Consecutive Weekly Decrease
Home Sales Reach Lowest Level in a Decade
Declining Demand and Limited Supply Drive Prices Up In December, home sales reached their lowest level in over a decade due to the ongoing imbalance between demand and supply. This resulted in a surge in prices, bringing the year to a close on a high note. Sales Activity Hits Rock Bottom Sales activity in December hit its lowest point since August 2010. The National Association … [Read more...] about Home Sales Reach Lowest Level in a Decade
Rising Home Prices Outpace Wages
The surge in home prices continues to outpace wage growth, making housing increasingly unaffordable for many Americans. In August, the median prices of single-family homes and condos reached unprecedented levels in 99% of U.S. counties, according to real-estate data company Attom. In the third quarter of 2023, annual home-price appreciation surpassed wage increases in 47% of … [Read more...] about Rising Home Prices Outpace Wages
