Instant Reaction: Mortgage Rates, April 18, 2024
Mortgage interest rates increased to 7.1% this week, moving above the mid-6% range for the first time since December 2023. While the higher mortgage rates are determined to be a killjoy for the spring housing market, mortgage applications did increase. It seems those applying for mortgages may be tr
Existing-Home Sales Descended 4.3% in March
Key Highlights Existing-home sales retreated 4.3% in March to a seasonally adjusted annual rate of 4.19 million. Sales fell 3.7% from the previous year. The median existing-home sales price rose 4.8% from March 2023 to $393,500 – the ninth consecutive month of year-over-year price gains and the high
Instant Reaction: Mortgage Rates, April 11, 2024
If one were to shake a Magic 8 ball, the answer to the question of "where are mortgage interest going to be in the next month?" would now read "outlook not so good." Yesterday's inflation figures, unfortunately, rose to 3.5%, which reverses the trend of lowering inflation. While yesterday showed a h
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