Economy and Housing Market

Rising interest rates have increased the average monthly loan payment by a whopping $1,000 year over year.

Despite signs of a housing recession, some buyers will be back to try again.

NAR Chief Economist Lawrence Yun paints a picture of what could happen with borrowing costs once it passes a critical threshold.

Forced to slow down construction as buyer demand plummets, builders predict lower home starts through 2023.

There’s some encouraging news in NAR’s latest housing report, though sales of existing home are still falling amid economic uncertainty.

Despite an unexpected jump in new construction in September, demand for new homes is falling due to high prices and mortgage rates. Builders are lowering their asks to boost buyer traffic.

Home buyers have lost about $107,000 in buying power since the beginning of the year—and that’s what’s truly scary.

Buyers would be smart to shop around: The large dispersion in rate offerings among lenders could amount to several hundreds of dollars, Freddie Mac says.

Still, homeowners are faring well, with property prices surging despite a pullback in buyer demand, says NAR’s chief economist.

Monthly mortgage payments are 60% higher than a year ago, according to NAR. Buyers can save by shopping around for different types of loans.