Housing Market Tracker: Mortgage rates and inventory fall together
If the mortgage market wasnât so stressed, mortgage rates should be at 5.99% today. In a regular market, they would be closer to 5.25%.
If the mortgage market wasnât so stressed, mortgage rates should be at 5.99% today. In a regular market, they would be closer to 5.25%.
To understand why we had such a beat in sales, you only need to go back to Nov. 9, when mortgage rates started to fall from 7.37% to 5.99%.
Mortgage rates fell last week after the failure of Silicon Valley Bank spooked bond traders worried about contagion.
Lead Analyst Logan Mohtashami explains we can still get a big jobs number while the unemployment rate increased.
After another challenging week, the housing market should see seasonal housing inventory increase in the next couple of weeks.
The housing market was savagely unhealthy last year and now we are back to a more normal level of over 30 days on the market.
Last week mortgage rates rose as purchase applications and inventory fell, with a noticeable move lower in new listing data.
Given the hotter inflation reported in Tuesday’s CPI data, can mortgage rates go above the 2022 peak of 7.37%?
The housing market experienced more volatility last week, with housing inventory dropping as mortgage rates moved higher.