Friday, November 22

Tag: home sales

Mortgage rates haven’t been this high since 2000
6Oct By adminNo Comments
Money

Mortgage rates haven’t been this high since 2000

Mortgage rates continue to climb, hitting their highest level in nearly 23 years. The average rate on a 30-year fixed-rate loan rose to 7.49%, from 7.31% last week, Freddie Mac said Thursday. The average rate on a 15-year mortgage rate rose to 6.78% from 6.72% last week."Several factors, including shifts in inflation, the job market and uncertainty around the Federal Reserve's next move, are contributing to the highest mortgage rates in a generation," said Sam Khater, Freddie Mac's chief economist. "Unsurprisingly, this is pulling back homebuyer demand."Depending on the length of the loan, rising mortgage rates add hundreds of dollars to a mortgage payment. While mortgage rates don't necessarily mirror the Fed's rate increases, they tend to track the yield on the 10-year Treasury note.  ...
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Homes “unaffordable” in 99% of nation for average American
28Sep By adminNo Comments
Money

Homes “unaffordable” in 99% of nation for average American

The typical American cannot afford to buy a home in a growing number of communities across the nation, according to common lending standards, and there's no clear sign of conditions getting better soon.That's the takeaway from a new report released Thursday by real estate data provider ATTOM. Researchers at ATTOM examined the median home prices last year for roughly 575 U.S. counties and found that 99% of those counties now have homes priced too far out of reach for the average American who makes approximately $71,214 a year, according to the report.Housing experts said a couple of trends explain why prices continue to climb. Interest rates on home loans grew past 7% this year, adding hundreds of dollars per month to a potential mortgage payment. Meanwhile, homeowners who locked in at low...
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U.K. House Prices Post Modest Monthly Rise
18Sep By adminNo Comments
World

U.K. House Prices Post Modest Monthly Rise

The average house price in the U.K. rose 0.4% in the month to Sept. 9, amid sluggish activity in the market, with interest-rate rises and summer holidays leading to price reductions not seen since January 2011.
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