As the summer season draws to a close, home sales are expected to remain sluggish due to high mortgage rates. However, the new home market and home builder stocks show promise for the future. Recent data indicates a lackluster housing market leading into the fall. In July, existing-home sales reached a seasonally-adjusted annual rate of 4.07 million, the lowest reading since … [Read more...] about Home Sales Set to End Summer Season on a Muted Note
Mortgage Rates
Mortgage Rates Decline, But Buyers Remain on the Sidelines
Mortgage rates have seen a slight decrease this week, although it may not be enough to entice buyers into the market. The trajectory of mortgage rates going forward will likely depend on economic data that will be released next week. According to Freddie Mac, the average 30-year fixed-rate mortgage was 7.12% during the week ending on Thursday, September 7. This marks the second … [Read more...] about Mortgage Rates Decline, But Buyers Remain on the Sidelines
Mortgage Rates Fall for the First Time in 12 Weeks
Source: CNBC Mortgage rates slipped and ended the months of successive increases, following the rising tensions between Russia and Ukraine drove a run on the safer bond markets. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell to 4.09% from 4.15%.Points for loans with a 20% was unchanged at 0.44, with the rate at 83 … [Read more...] about Mortgage Rates Fall for the First Time in 12 Weeks
