Mortgage rates march toward 7%, reaching highest level since 2007

Mortgage rates march toward 7%, reaching highest level since 2007

The numbers: Mortgage rates continue to march toward 7%, putting pressure on people looking to buy a home. The 30-year fixed-rate mortgage averaged 6.7% as of Sept. 29, according to data released by Freddie Mac FMCC, -2.71% on Thursday. Mortgage rates are rising as the Federal Reserve pushes up key interest rates to fight the … Read more

10 Markets Where Sellers Are Cutting Home Prices the Most

10 Markets Where Sellers Are Cutting Home Prices the Most

Textsize The share of home listings with price reductions in September was 19.5%, up from 11% the previous September. Allison Dinner/Getty Images Sellers reduced their asking prices on roughly one in five US home listings in September, according to data released today. The price cuts come as higher mortgage rates increase the cost of financing … Read more

Opinion: The Federal Reserve is missing a crucial turning point in its fight against inflation because it believes in flawed data

Opinion: The Federal Reserve is missing a crucial turning point in its fight against inflation because it believes in flawed data

The Federal Reserve can’t see the probable economic crash that is coming because it’s still looking into the rearview mirror, where it sees nothing but high inflation. The danger arises because the consumer price index and the personal consumption expenditure price index — the two most important inflation gauges — have a fatal flaw in … Read more

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

As Mortgage Rates Top 6%, More Borrowers Choose Adjustable-Rate Loans

As Mortgage Rates Top 6%, More Borrowers Choose Adjustable-Rate Loans

Mortgage rates surged past 6% this week, pushing already pricey homes further out of reach for many borrowers. Discouraged buyers might choose to hold off, betting that prices and rates will drop in the years ahead as the market cools and inflation slows, as some economists predict. For those who want to move sooner, an … Read more

Everyone’s a Landlord—Small-Time Investors Snap Up Out-of-State Properties

Everyone’s a Landlord—Small-Time Investors Snap Up Out-of-State Properties

Jack Cronin found San Francisco-area homes too expensive or too far from the city center to buy when he lived there in 2020. The tech worker still wanted a piece of the hottest housing market of his lifetime, so he started looking farther afield. Last year, the 28-year-old used a website called Roofstock, which provides … Read more

Healthcare inflation is the latest price hike hitting consumers grappling with rising costs and mortgage rates rise amid signs of ‘waning demand’ for homes

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. Healthcare inflation is the latest price hike hitting consumers grappling with rising costs Inflation pressures are heating up in healthcare. Prices for care paid by private insurance jumped in July; premium hikes expected next year Read More Black homebuyers are denied mortgages at twice the rate of overall … Read more

Desperate home buyers are making critical compromises when buying a house and Biden student loan forgiveness includes $20,000 for Pell grant recipients

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. What are Pell grants? Biden student loan forgiveness includes $20,000 for Pell grant recipients Here’s how to check if you’re a Pell grant recipient, and what to know about Pell grant requirements Read More Yoga to the People leaders charged with not paying taxes while raking in $20 … Read more

Drug savings in new law aren’t just for seniors and mortgage application activity falls to lowest level since 2000 amid higher rates and recession fears

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. My son and his girlfriend want to buy our home and build an ‘in-law suite.’ Should I add him to the deed of our house? ‘Should we put them on the deed and then have them get a home equity loan to build or should we do a … Read more

Housing’s ‘great slowdown’ is here, as mortgage originations and spending fall, Bank of America says and these cost-effective cooking tips won’t leave you with an empty stomach — or wallet

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. This startup founded by former Airbnb employees lets you try out vacation homes before you buy them Try before you buy: second-home edition. Read More Housing’s ‘great slowdown’ is here, as mortgage originations and spending fail, Bank of America says A new report from the Bank of America … Read more