Average long-term US mortgage rates dip third week in a row
December 1, 2022 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate ticked down for the third week in a row and have fallen more than a half-point since hitting a 20-year high less than a month ago.
Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate fell to 6.49% from 6.58% last week.
High mortgage rates send homebuyers scrambling for relief
November 23, 2022 GMTLOS ANGELES (AP) — Mortgage rates are more than double what they were a year ago, so many homebuyers are looking for ways to put off some of the pain for a few years.
The trend has driven adjustable-rate mortgages, or ARMs, to the highest usage in over a decade.
Average long-term US mortgage rate slips to 6.58%
November 23, 2022 GMTLOS ANGELES (AP) — The average long-term U.S. mortgage rate has edged lower for the second time in as many weeks, though it remains more than double what it was a year ago —- a significant hurdle for many would-be homebuyers.
US home sales fell in October for ninth straight month
November 18, 2022 GMTSales of previously occupied U.S. homes fell in October for the ninth consecutive month to the slowest pre-pandemic sales pace in more than 10 years as homebuyers grappled with sharply higher mortgage rates, rising home prices and fewer properties on the market.
Average long-term US mortgage rates tumble to 6.61%
November 17, 2022 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate tumbled by nearly a half-point this week, but will likely remain a significant barrier for potential homebuyers as Federal Reserve officials have all but promised more rate hikes in the coming months.
Average long-term US mortgage rate back above 7% this week
November 10, 2022 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate returned to the 20-year highs of two weeks ago when rates breached 7% for the first time since 2002.
Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate rose to 7.08% from 6.95% last week.
Redfin to cut another 13% of workforce, shutter RedfinNow
November 9, 2022 GMTWASHINGTON (AP) — Online real estate broker Redfin is cutting 862 employees and shutting down its instant-cash-offer subsidiary RedfinNow, another casualty of two-decade high interest rates stoked by the Federal Reserve's fight against inflation.
US average long-term mortgage rates back under 7%, for now
November 3, 2022 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate dipped back under 7% this week, one day after the Federal Reserve raised its benchmark borrowing rate to its highest level in 15 years as it tries to squelch four-decade high inflation.
US mortgage rates top 7% for the first time in 2 decades
October 27, 2022 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate topped 7% for the first time in more than two decades this week, a result of the Federal Reserve's aggressive rate hikes intended to tame the nation's stubbornly high inflation.
US home sales fell in September for eighth straight month
October 20, 2022 GMTSales of previously occupied U.S. homes fell in September for the eighth month in a row, matching the pre-pandemic sales pace from 10 years ago, as house hunters grappled with sharply higher mortgage rates, rising home prices and a still tight supply of properties on the market.
Average long-term US mortgage rates rise this week to 6.94%
October 20, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates inched up this week ahead of another expected rate increase by the Federal Reserve when it meets early next month.
Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate ticked up this week to 6.94% from 6.92% last week.
Average long-term US mortgage rates up another quarter point
October 13, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates reached their highest level in more than two decades this week and are likely to climb further as the Federal Reserve has all but promised more rate increases in its battle to tamp down persistent inflation.
Average long-term US mortgage rates dip to 6.66% this week
October 6, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates ticked down modestly this week after six straight weeks of gains pushed rates to heights not seen in more than a decade, before a crash in the housing market triggered the Great Recession in 2008.
US long-term mortgage rates up for 6th week; 30-year at 6.7%
September 29, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week for the sixth straight week, marking new highs not seen in 15 years, before a crash in the housing market triggered the Great Recession.
Average US long-term mortgage rates climb to 6.29% this week
September 22, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates jumped by more than a quarter-point this week to their highest level since 2008 as the Federal Reserve intensified its effort to tamp down decades-high inflation and cool the economy.
US home sales slipped, prices grew more slowly in August
September 21, 2022 GMTSales of previously occupied U.S. homes slowed in August for the seventh month in a row, as sharply higher mortgage rates and rising prices made homebuying less affordable, further cooling the once red-hot housing market.
Mortgage rates hit 6%, first time since 2008 housing crash
September 15, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates climbed over 6% this week for the first time since the housing crash of 2008, threatening to sideline even more homebuyers from a rapidly cooling housing market.
Long-term mortgage rates now at highest point since 2008
September 8, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates jumped again this week, hitting the highest levels in almost 14 years and pushing even more would-be buyers out of the market.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate jumped to 5.89% from 5.66% last week.
Mortgage rates rise to 5.66%, weighing on housing market
September 1, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates rose to their highest level in two months this week, providing no relief for a slumping housing market.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate rose to 5.66% from 5.55% last week.
Small businesses feel the pinch from slowing housing market
August 27, 2022 GMTNEW YORK (AP) — The chill in the housing market is rippling out to the carpenters, landscapers and other small businesses that lose out when fewer homeowners are renovating their properties.
Inflation was already causing some homeowners to delay big renovation projects as prices for building materials, fixtures and appliances jumped.
Average US long-term mortgage rates rise; 30-year at 5.55%
August 25, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week as inflation worries remained at the fore and the slowdown in economic growth weighs on the housing market.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate increased to 5.55% from 5.13% last week.
US home sales fell in July; some buyers see silver lining
August 18, 2022 GMTLOS ANGELES (AP) — The housing market's comedown from its high-flying days early this year is deepening, with home sales in July falling for the sixth straight month.
Sharply higher mortgage rates, surging inflation and prices that remain near all-time highs are making homes less affordable.
Traders bet on builder stocks despite slowing housing market
August 18, 2022 GMTLOS ANGELES (AP) — The U.S. housing market has gone from red-hot to decidedly tepid since the spring, though you wouldn’t know it by this summer's sharp rebound in homebuilder's stocks.
Average long-term mortgage rates retreat slightly this week
August 18, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates came back down slightly this week after the key 30-year loan rate jumped nearly a quarter point last week.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate fell to 5.13% from 5.22% last week.
US key 30-year mortgage rate jumps back over 5%, now 5.22%
August 11, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates soared this week in a continued volatile market as the key 30-year loan rate jumped back over 5%.
Mortgage buyer Freddie Mac reports that the 30-year rate rose to 5.22% from 4.99% last week.
Long-term mortgage rates under 5% for 1st time in 4 months
August 4, 2022 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate fell below 5% for the first time in four months, days after the Federal Reserve jacked up its main borrowing rate in an aggressive effort to get inflation under control.
Average US long-term mortgage rates retreat to 5.3%
July 28, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates retreated this week just as the Federal Reserve announced another big rate hike in its bid to get four-decade high inflation under control.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate fell back to 5.3% from 5.54% last week.
How the Federal Reserve’s rate hikes affect your finances
July 27, 2022 GMTWASHINGTON (AP) — Higher mortgage rates have sent home sales tumbling. Credit card rates have grown more burdensome, and so have auto loans.
US home sales fell in June as prices reach new heights
July 27, 2022 GMTSales of previously occupied U.S. homes slowed for the fifth consecutive month in June as higher mortgage rates and rising prices kept many home hunters on the sidelines.
Existing home sales fell 5.4% last month from May to a seasonally adjusted annual rate of 5.12 million, the National Association of Realtors said Wednesday.
Average long-term US mortgage rates edge up to 5.54%
July 21, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates ticked up again this week in a rapidly cooling housing market as the Federal Reserve gears up for what could be yet another bump to its benchmark interest rate.
Housing market chills as mortgage rates, prices scare buyers
July 21, 2022 GMTNEW YORK (AP) — Kyle Tomcak was looking for a home for his in-laws in the suburbs around Denver, something priced close to $450,000.
Tomcak became dispirited as he lost out to investors fronting cash offers $100,000 over the asking price.
Average long-term US mortgage rates bounce back up to 5.51%
July 14, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates were back up this week, just as the latest government data shows inflation has not slowed, meaning the Federal Reserve is almost certain to raise its benchmark borrowing rate later this month.
Average long-term US mortgage rates retreat this week
July 7, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates eased again this week as the Federal Reserve remains likely to raise its benchmark borrowing rate in its ongoing battle to bring down inflation.
Average long-term U.S. mortgage rates ease to 5.7%
June 30, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates eased back this week after shooting up nearly three-quarters of a point in recent weeks.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate fell to 5.70% this week from 5.81% last week.
Average long-term US mortgage rates inch up to 5.81%
June 23, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates inched up this week following last week's mammoth jump, the biggest in 35 years.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate ticked up to 5.81% this week, from last week's 5.78%.
Home sales give way as prices enter unprecedented territory
June 21, 2022 GMTSales of previously occupied U.S. homes slowed for the fourth consecutive month as climbing mortgage rates and record high prices discouraged house hunters.
Existing home sales fell 3.4% last month from April to a seasonally adjusted annual rate of 5.41 million, the National Association of Realtors said Tuesday.
Average US mortgage rates jump by most in 35 years
June 16, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates had their biggest one-week jump in 35 years with the Federal Reserve this week raising its key rate by three-quarters of a point in bid to tame high inflation.
Mortgage rates jump again, buyers head to the sideline
June 9, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates jumped back up ahead of next week's Federal Reserve meeting where it's expected to announce another big increase to its main borrowing rate.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate jumped to 5.23% this week from 5.09% last week.
Average long-term US mortgage rates edge down, still over 5%
June 2, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates edged down slightly this week, though interest rates on the key 30-year home loan remain elevated.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate ticked down to 5.09% from 5.1% last week.
Average long-term mortgage rates fall; 30-year loan at 5.1%
May 26, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week for the second week in a row, though interest rates on the key 30-year home loan remain at decade-high levels.
Economic uncertainty and weakened homebuyer demand continue to loom over mortgage rates.
Re/Max CEO: Home prices can’t keep up double-digit gains
May 23, 2022 GMTLOS ANGELES (AP) — The U.S. housing market is slowing as would-be buyers struggle with rising borrowing costs and a persistent shortage of properties for sale.
Previously occupied home sales fell in February and March as mortgage rates shot up, crimping homebuyers’ purchasing power during the annual spring homebuying season.
More buyers opt for adjustable-rate mortgages as rates rise
May 19, 2022 GMTLOS ANGELES (AP) — Rising interest rates are making adjustable-rate mortgages an increasingly attractive alternative to common 30-year, fixed-rate home loans.
ARMs made up 13% of all home loans by dollar volume in March, their highest share since January 2020, according to CoreLogic.
Home sales tumble again as mortgage rates surge
May 19, 2022 GMTSales of previously occupied U.S. homes slowed for the third consecutive month in April as mortgage rates surged, driving up borrowing costs for would-be buyers as home prices soared to new highs.
Existing home sales fell 2.4% last month from March to a seasonally adjusted annual rate of 5.61 million, the National Association of Realtors said Thursday.
Average long-term U.S. mortgage rates edge down to 5.25%
May 19, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates retreated modestly this week, but interest on the key 30-year loan remains at decade-high levels.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate slipped to 5.25% from 5.3% last week.
Average long-term US mortgage rates edge up to 5.3%
May 12, 2022 GMTWASHINGTON (AP) —
Average long-term U.S. mortgage rates edged up again this week, with interest on the key 30-year loan at its highest level since 2009.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate ticked up to 5.3% from 5.27% last week.
Business Highlights: Wall Street dive, worker shortage
May 5, 2022 GMT___
Stocks slump 3% as worries grow over higher interest rates
NEW YORK (AP) — Stocks closed sharply lower on Wall Street as worries grow in markets that the higher interest rates the Federal Reserve is using in its fight against inflation will derail the economy.
US mortgage rates rise; 30-year at 5.27%, highest since 2009
May 5, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates resumed their ascent this week, as the key 30-year loan reached its highest point since 2009.
Long-term US mortgage rates edge down this week to 5.1%
April 28, 2022 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate edged down for the first time in two months following a swift ascent to levels that have not been seen in more than a decade.
After seven weeks of increases, the average rate on a 30-year mortgage inched down to 5.1% from 5.11% last week, mortgage buyer Freddie Mac reported Thursday.
Higher mortgage rates set stage for lower home sales
April 21, 2022 GMTLOS ANGELES (AP) — Low mortgage rates have helped juice the housing market over the past decade, easing the way for borrowers to finance ever-higher home prices.
A run-up in rates in recent weeks is threatening to undo that dynamic, setting the stage for a slowdown in home sales this year as the increased borrowing costs reduce would-be buyers’ purchasing power.
Average long-term US mortgage rates highest in 12 years
April 21, 2022 GMTWASHINGTON (AP) — Long-term U.S. mortgage rates rose for the seventh straight week, climbing to their highest level in more than a decade.
The average rate on a 30-year mortgage rose to 5.11% from 5% last week, mortgage buyer Freddie Mac reported Thursday.
March home sales fall as mortgage rates, home prices climb
April 20, 2022 GMTSales of previously occupied U.S. homes slowed in March to the slowest pace in nearly two years as a swift rise in mortgage rates and record-high prices discouraged would-be homebuyers.
Existing home sales fell 2.7% last month from February to a seasonally adjusted annual rate of 5.77 million, the National Association of Realtors said Wednesday.
US long-term mortgage rates rise; 30-year loan reaches 5%
April 14, 2022 GMTWASHINGTON (AP) — Long-term U.S. mortgage rates continued to climb this week as the key 30-year loan rate reached 5% for the first time in more than a decade amid persistent high inflation.
The average 5% rate on the 30-year mortgage was up from 4.72% last week, mortgage buyer Freddie Mac reported Thursday.
Long-term US mortgage rates edge up this week to 4.72%
April 7, 2022 GMTWASHINGTON (AP) — Long-term U.S. mortgage rates edged up again this week with the key 30-year loan rate reaching levels not seen in more than three years.
The average rate on the 30-year loan this week rose to 4.72%, from 4.67% last week, mortgage buyer Freddie Mac reported Thursday.
Long-term mortgage rates rise again; 30-year breaches 4.5%
March 31, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates rose again this week as the key 30-year loan rate vaulted over 4.5% and attained its highest level since the end of 2018.
Against a backdrop of inflation at a four-decade high, the increases in home loan rates come a few weeks after the Federal Reserve raised by a quarter point its benchmark short-term interest rate — which it had kept near zero since the pandemic recession struck two years ago — to cool the economy.
Long-term US mortgage rates up to 4.42%, highest since 2019
March 24, 2022 GMTWASHINGTON (AP) —
Average long-term U.S. mortgage rates jumped again this week as the 30-year loan rate climbed to its highest level since January of 2019.
The increase comes after the Federal last week increased the key rate — which it had kept near zero since the pandemic recession struck two years ago — by more than a quarter point.
February home sales fall amid higher mortgage rates, prices
March 18, 2022 GMTSales of previously occupied U.S. homes fell in February as competition for a near-record low number of properties on the market drove prices higher and rising mortgage rates kept would-be buyers on the sidelines.
Average U.S. mortgage rates rise; 30-year loan breaches 4%
March 17, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week as the key 30-year loan vaulted over 4% for the first time since May 2019.
The increase came amid expectations that with inflation at a four-decade high, the Federal Reserve would raise its benchmark short-term interest rate at its policy meeting this week to cool the economy.
Long-term US mortgage rates back up this week
March 10, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week but remain at historically low levels as the Federal Reserve prepares to raise its main borrowing rate.
The average rate on a 30-year loan hit 3.85%, up from 3.76% last week, mortgage buyer Freddie Mac reported Thursday.
Long-term US mortgage rates fall this week to 3.76%
March 3, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week and remain at historically low levels, just as the Federal Reserve prepares to raise its main borrowing rate later this month.
US long-term mortgage rates tick down to 3.89% this week
February 24, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates fell slightly this week, after rising to their highest level in three years last week.
January home sales rise ahead of expected rate hikes
February 18, 2022 GMTLOS ANGELES (AP) — Sales of previously occupied homes rose in January as a surge in buyers with cash and others eager to avoid higher mortgage rates snapped up properties, leaving the number of available houses on the market at a record low.
Long-term US mortgage rates hit 3.92%, highest since 2019
February 17, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates jumped again this week, approaching levels not seen since 2019.
The average rate on a 30-year loan reached 3.92%, up from 3.69% the previous week, mortgage buyer Freddie Mac reported Thursday.
Long-term US mortgage unchanged again this week at 3.55%
February 3, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates were flat for a third straight week after rising about a half percent early in the year.
The average rate on the 30-year loan held at 3.55% from last week, mortgage buyer Freddie Mac reported Thursday.
Long-term mortgage rates continue rise; 30-year breaks 3.5%
January 20, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates continued to rise this week. The rate on the benchmark 30-year loan breached 3.5%.
Home loan rates have been running in recent weeks at levels not seen since early 2020, when the coronavirus pandemic was breaking in the U.S.
US average long-term mortgage rates jump; 30-year now 3.45%
January 13, 2022 GMTSILVER SPRING, Md. (AP) — Average long-term U.S. mortgage rates jumped again this past week, reaching their highest level since March 2020, just as the coronavirus pandemic was breaking in the U.S.
US average long-term mortgage rates rise; 30-year at 3.22%
January 6, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates rose in the past week to start the new year. They reached their highest level since May 2020, at the height of the coronavirus pandemic, yet remained historically low.
Red-hot housing market to fuel record borrowing in ’22
January 6, 2022 GMTLOS ANGELES (AP) — The fierce competition, low mortgage rates and soaring prices that helped raise mortgage borrowing to record heights last year is expected to drive lending even higher this year, experts say.
Mortgage rates tick up but remain low in final days of 2021
December 30, 2021 GMTSILVER SPRING, Md. (AP) — Average long-term U.S. mortgage rates moved slightly higher in the final week of 2021.
Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark, 30-year home loan ticked up to 3.11% this week from 3.05% last week.
Omicron worries push mortgage rates down; 30-year at 3.05%
December 23, 2021 GMTWASHINGTON (AP) — Fears about the economic fallout from the omicron variant pushed long-term U.S. mortgage rates lower this week.
Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark, 30-year home loan dipped to 3.05% this week from 3.12% last week.
New home sales jump 12.4% in November, highest in 7 months
December 23, 2021 GMTWASHINGTON (AP) — Sales of new single-family homes rose 12.4% in November, the fastest pace in seven months, as the housing industry continued to benefit from low mortgage rates and strong demand.
The November increase pushed the seasonally adjusted annual sales pace to 744,000 last month, the best showing since reaching 796,000 in April.
Mortgage rates up slightly this week to a still-low 3.12%
December 16, 2021 GMTSILVER SPRING, Md. (AP) — The average interest rate on a long-term mortgage in the U.S. ticked up slightly this week but remain historically low just as the Federal Reserve announces that it will begin tightening credit.
Average US long-term mortgage rates hold firm another week
December 9, 2021 GMTSILVER SPRING, Md. (AP) — The average interest rate on a long-term mortgage in the U.S. held firm again this week.
Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year, fixed rate home loan ticked down this week to 3.10% from 3.11% last week.
US long-term mortgage rates relatively flat this week
December 2, 2021 GMTSILVER SPRING, Md. (AP) — The average interest rate for long-term mortgages in the U.S. remained flat this week, following the Federal Reserve suggesting that it would start tightening credit by raising its benchmark rate.
US mortgage rates mixed: 30-year unchanged at 3.1%
November 24, 2021 GMTWASHINGTON (AP) — U.S. mortgage rates were mixed this week.
The average rate on the benchmark 30-year, fixed rate home loan was unchanged from last week at 3.1%; a year ago, it stood at 2.72%.
US average 30-year mortgage rate back up over 3% this week
November 18, 2021 GMTSILVER SPRING, Md. (AP) — The average long-term U.S. mortgage rate rose this week, with the main 30-year rate inching back up over 3%.
Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year benchmark home loan jumped to a still-low 3.1% from 2.98% last week.
US average long-term mortgage rates fall; 30-year at 2.98%
November 10, 2021 GMTWASHINGTON (AP) — Average long-term mortgage rates in the U.S. fell this week, as the key 30-year rate again retreated below the 3% mark.
Mortgage buyer Freddie Mac reported Wednesday that the average rate on the benchmark home loan declined to 2.98% from 3.09% last week.
Average US long-term mortgage rate ticks back down this week
November 4, 2021 GMTSILVER SPRING, Md. (AP) — The average long-term mortgage rate in the U.S. ticked back down this week following several weeks of increases.
Mortgage buyer Freddie Mac reported Thursday that the average rate for a 30-year mortgage fell to 3.09% from 3.14% last week.
US average mortgage rates rise; 30-year sat 3.14%
October 29, 2021 GMTWASHINGTON (AP) — Average long-term mortgage rate rose this week as inflation pressures, the coronavirus pandemic and some supply shortages linger.
Mortgage buyer Freddie Mac reported Thursday that the average rate for a 30-year mortgage jumped to 3.14% from 3.09% last week.
Existing home sales surge as interest rates point higher
October 21, 2021 GMTSales of previously occupied U.S. homes bounced back in September to their strongest pace since January as mortgage rates tick higher, motivating buyers to get off the sidelines.
The National Association of Realtors said Thursday that existing homes sales rose 7% compared with August to a seasonally-adjusted annual rate of 6.29 million units.
Inflation, Fed action set stage for higher mortgage rates
October 21, 2021 GMTLOS ANGELES (AP) — Mortgage rates have hovered near all-time lows for much of this year, even as inflation has increased sharply across much of the economy.
That could begin to change in the weeks to come, now that the Federal Reserve has signaled it could announce as early as next month plans to begin rolling back the measures it has taken to shore up the economy during the pandemic.