Economy and Housing Market
Following two weeks of declines, mortgage rates edged up—a pattern economists largely agree will continue.
Over the past decade, about 71% of the increase in housing wealth has been from high-income households, according to a new NAR report.
Their debt fears may be preventing some from buying a house, a new survey shows.
The percentage of homes with mortgages that have late payments or are in foreclosure is rapidly dropping.
The builder’s trade group provides a snapshot of how increasing borrowing costs could gradually price out more would-be buyers.
Record-low jumbo loan rates and rapid home price growth fueled an increase in jumbo lending last year.
“The cascading impacts of the war in Ukraine have created market uncertainty,” says Freddie Mac’s chief economist.
“When global investors sense increased uncertainty, there is a ‘flight to safety’ in the U.S. Treasury bonds,” one economist says.
The record amount from the mortgage financing giants aims to curb a nationwide housing shortage.
Rates may increase while purchasing a house, and with home buyers already stretching their budgets, that difference could have a big impact.
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