Source: CNBC — WASHINGTON – Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller interest rate increases are likely ahead even as he sees progress in the fight against inflation as largely inadequate. Echoing recent […]
Even Obama’s economic advisor, Larry Summers, is wondering why Biden won’t allow pipelines to be build to reduce energy prices and reduce inflation. Having said that, US mortgage rates are now the highest since 2008 […]
Source: Fox Business — The average interest rate for 30-year fixed-rate mortgages hit the 6% mark for the first time in 14 years, according to a Mortgage Bankers Association (MBA) survey released Wednesday. The […]
Aspiring first-time homeowners are sailing into fierce macroeconomic headwinds as prices and mortgage rates rise, while higher rents make it harder to save for a down payment. Why it matters: Homeownership is a foundation for middle-class […]
As expected, the Federal Reserve has increased its federal-funds rate by three-quarters of a percent Wednesday. The increase has many in the multifamily industry discussing the likely impact on apartment development and investment. Given the multifamily sector’s […]
After weeks of steady gains, mortgage rates have fallen rapidly in the past week, meaning homes are suddenly much more affordable. The 30-year fixed-rate mortgage averaged 5.3% in the week ending July 7, according to the latest […]
With interest rates and inflation both on the rise, the US housing market has recently taken a hit. In fact, the cost of buying a home jumped more than 20% this April compared to the same month […]
It’s a tempting number that explains why so-called ARMs are in big demand. Earlier this month it was reported that demand for ARMs had reached a 14-year high amid rising interest rates that have made standard mortgages […]
The volume of commercial and multifamily mortgage loan originations jumped 72 percent in the first quarter of 2022 compared to a year earlier. The Mortgage Bankers Association (MBA) said lenders reported solid increases in all categories of that lending […]
Real house prices—prices adjusted for inflation—have steadily increased in the U.S. since 2012. Further acceleration in the pace of house-price appreciation began before the pandemic but has strengthened noticeably since early 2020. For prospective buyers […]
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