Tag Archives: mortgages

Noel Hendrickson/Getty Images Even with signs that the housing market is cooling, homebuyers are still feeling the sting of elevated prices and higher interest rates. The average rate on a 30-year fixed-rate mortgage is 6.7% as of Friday, up from 3.3% at the start of 2022, according to Mortgage News …

Just when it seemed that financial markets finally got religion in early 2022, investors decided it was time for a summer bender. After turning in a miserable first-half performance — the worst in several decades by some measures1 — markets were enjoying a sizzling summer rally, pushing a bear market …

The number of borrowers with high mortgage debt has sky-rocketed. Photo / 123RF The number of Kiwis with a million-dollar-plus mortgage has doubled in just three years prompting concerns about how they will cope with rising interest rates and the soaring cost of living. In the third quarter of 2019 …

The Bank of Canada’s rising interest rates have some variable-rate mortgage holders thinking about the upside of locking in a fixed rate, according to experts who spoke to Global News. But the peace of mind that comes with a steady rate has trade-offs that homeowners should be aware of before …

Mortgage demand appears to have nowhere to go but down, as interest rates go up. Application volume dropped 1.2% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The week’s results include an adjustment for the observance of Labor Day. Since last year, …

Homebuyers have faced a litany of challenges lately. For two years, housing prices climbed, while inventory remained at a standstill. Now the market is finally starting to cool off, making the hunt for an affordable home less of a pipe dream for priced-out buyers. But fickle mortgage rates are creating …

Manhattan was among the many markets impacted by a slowdown in the US housing market over the summer, according to a recent analysis. Overall, the number of Manhattan homes in contract plunged a whopping 39% year-over-year, according to data from June through August compiled by brokerage firm Serhant. The trend …

The slowdown in the otherwise red-hot housing boom has been stunningly swift. The U.S. housing market surged during the pandemic as homebound people sought new places to live, boosted by record-low interest rates. Now, real estate agents who once reported lines of buyers outside open houses and bidding wars on …

Peopleimages | Istock | Getty Images Citi is expanding a program to encourage homeownership in diverse communities, as part of a new set of initiatives to broaden access to its lending products. The program, called HomeRun, seeks to help eliminate the key barriers to homeownership, particularly with regard to cost …

The housing market’s ongoing slowdown will continue through the end of the year as surging mortgage rates discourage prospective homebuyers, according to the latest analysis by real estate firm Redfin. Redfin noted a “nosedive” in home-touring activity, which is down 38% since January over the last four weeks, with declining …