Housing
The housing market was already painful, ugly and anxious. Now the 8% mortgage rate is back
Today’s housing market is a toxic mix of high mortgage rates, high prices, tight supply and strangely strong pent-up demand — and it’s scaring off buyers and sellers alike. Prices were already high, driven by supercharged demand during the height of the Covid-19 pandemic. Now the popular 30-year fixed mortgage rate is at 8%, the […]
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Want to move your household abroad? These are Europe’s most family members-pleasant cities
Relocating abroad is often a complicated determination — specially when you have young children. Living abroad can be incredibly enriching and open up new choices by introducing children to new languages and cultures. But uprooting not just your have, but also your kids’ lives, suggests even additional considered wants to be put into generating these […]
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September home sales drop to the lowest level since the foreclosure crisis
Sales of previously owned homes dropped 2% in September from August to a seasonally adjusted, annualized rate of 3.96 million units, according to the National Association of Realtors. Sales were 15.4% lower compared with September 2022. This is the slowest sales pace since October 2010, during the Great Recession, when the market was in the […]
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The 30-year fixed mortgage rate just hit 8% for the first time since 2000 as Treasury yields soar
JB Reed | Bloomberg | Getty Images The average rate on the popular 30-year fixed mortgage rate hit 8% Wednesday morning, according to Mortgage News Daily. That is the highest level since mid-2000. The milestone came as bond yields soar to levels not seen since 2007. Mortgage rates follow loosely the yield on the 10-year […]
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Bad news for commercial real estate: Architects report a big drop in business
Construction workers erect a building in downtown Miami, Florida, on June 14, 2023. Jim Watson | AFP | Getty Images Architecture firms reported a sharp drop in business in September, indicating that the commercial real estate market could see even more pain in the next year. The AIA/Deltek Architecture Billings Index dropped to 44.8 in […]
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Mortgage demand falls to the lowest level since 1995 as interest rates near 8%
Signage is seen at The Collection at Morristown, a housing development by Lennar Corporation, in Morristown, New Jersey, November 13, 2021. Andrew Kelly | Reuters Mortgage rates last week rose for the sixth straight week, causing demand for home loans to drop to the lowest level since 1995. Total application volume fell 6.9% compared with […]
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Homebuilder sentiment drops to 10-month low, as mortgage rates soar
A contractor works on a new home under construction in Tucson, Arizona, on Tuesday, Feb. 22, 2022. Rebecca Noble | Bloomberg | Getty Images Builder confidence in the market for single-family homes dropped to the lowest level since January, as builders contend with a market dominated by high mortgage rates and costs for financing. The […]
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Adjustable-rate mortgage demand spiked last week. Here’s why.
A house for sale in Arlington, Virginia, in July of 2023. Saul Loeb | AFP | Getty Images The average rate on the 30-year fixed mortgage rose to the highest level since 2000 last week, but rates on adjustable-rate mortgages fell. That caused a run on these so-called ARMs, pushing total mortgage application volume very […]
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Mortgage demand drops to the lowest level since 1996, as interest rates head toward 8%
A house is for sale in Arlington, Virginia, July 13, 2023. Saul Loeb | AFP | Getty Images Mortgage rates just continue to climb higher, taking a particularly big leap last week. As a result, total mortgage demand fell 6% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The […]
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Mortgage rate races toward 8% after hitting a high not seen since late 2000
Ryan Ratliff, center, real estate sales associate with Re/Max Advance Realty, shows Ryan Paredes, left, and Ariadna Paredes a home for sale in Cutler Bay, Florida, on April 20, 2023. Joe Raedle | Getty Images The average rate on the popular 30-year fixed mortgage rose to 7.72% on Tuesday, according to Mortgage News Daily. Mortgage […]
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