Lower mortgage rates, higher demand lead to optimism for late 2023
Economists believe that if the mortgage rate trend continues, the market will be able to improve in the second half of 2023.Â
Economists believe that if the mortgage rate trend continues, the market will be able to improve in the second half of 2023.Â
Mortgage rates surge, closing in on 7% CNN
On Wednesday, existing home sales collapsed near the lows we saw during COVID-19 and back in 2007 when the housing bubble burst.
On Wednesday, existing home sales collapsed near the lows we saw during COVID-19 and back in 2007 when the housing bubble burst.
In this week’s Housing Market Tracker, Lead Analyst Logan Mohtashami shows how total inventory could break under 1 million.
The housing market saw inventory fall 4% last week and is on the cusp of breaking under 1 million total active listings.
Refinance applications decreased by 16.3%, and purchase mortgage applications decreased by 12.2% when adjusted for the holidays. Compared to a year ago, refinance apps were down by 87%, and purchase applications were 42% lower. “Purchase applications have been impacted by slowing home sales in both the new and existing segments of the market,” Kan said. … [Read more…]
Thereâs been a lot of fuss about the refinance market drying up lately, and we now know itâs not just noise. Last month, purchase-money mortgages gobbled up the majority share of the overall mortgage market, according to the latest Origination Insight Report from Ellie Mae. The company noted that purchases accounted for 53% of applications [&hellip
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