Mortgage rates hit 6.29%, Freddie Mac says and rents fell in August for the first time since November 2021

Mortgage rates hit 6.29%, Freddie Mac says and rents fell in August for the first time since November 2021

Hi, MarketWatchers. Don’t miss these top stories. Rents fell in August for the first time since November 2021, but tenants are still struggling. Here’s why. Rents dropped from July to August, and annual growth appears to be slowing down. Read More How much should I tip my housekeeper? My husband says that we should tip … Read more

Mortgage Rates Top 6% for the First Time Since the 2008 Financial Crisis

Mortgage Rates Top 6% for the First Time Since the 2008 Financial Crisis

Mortgage rates topped 6% this week, their highest level since 2008, giving a jolt to home buyers who last year were paying less than half that. The average rate on a 30-year fixed mortgage climbed to 6.02% this week, up from 5.89% last week and 2.86% a year ago, according to a survey of lenders … Read more

US Existing-Home Sale Prices Hit Record of $407,600 in May

US Existing-Home Sale Prices Hit Record of 7,600 in May

The relentless climb in US home values ​​continued in May, when median prices shot above $400,000 for the first time while sales activity slowed under pressure from higher mortgage costs. Rapidly rising interest rates are rippling through US markets as the Federal Reserve tries to combat inflation. Stocks entered a bear market this month, consumer … Read more

Fed Searches for the Magic Number to Cool a Red-Hot US Housing Market

Fed Searches for the Magic Number to Cool a Red-Hot US Housing Market

When the Federal Reserve set out to cool the economy and slow inflation in the past, it counted on the housing market to do much of the work. By raising interest rates, the central bank made mortgages more expensive and trimmed the number of buyers. This time, America’s red-hot housing market threatens to make the … Read more