In 2005, Fed Chairman Alan Greenspan told Congress that “a nationwide housing price bubble does not seem likely.” Of course, not only had a housing bubble formed, it was nearing its peak just as Greenspan was delivering this message on Capitol Hill. Fast forward to 2022, and the scars of the last bubble have clearly …
In June, Fed Chairman Jerome Powell told reporters that the overheated US housing market – which has seen US home prices rise more than 40% in just over two years – had need a “reset”. And higher mortgage rates, he said, would slowly bring “equilibrium” back to the market. “We saw [home] prices have risen …
Mortgage rates fell again this week, after plunging nearly half a percentage point last week. The 30-year fixed-rate mortgage averaged 6.58% in the week ending Nov. 23, down from 6.61% the previous week, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen for most of 2022, boosted …
Mortgage rates fall for the second week in a row | CNN Business Read More »
Mortgage rates fell again this week, after plunging nearly half a percentage point last week. The 30-year fixed-rate mortgage averaged 6.58% in the week ending Nov. 23, down from 6.61% the previous week, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen for most of 2022, boosted …
Mortgage rates fall for the second week in a row | CNN Business Read More »
U.S. home sales fell for the ninth straight month in October as soaring mortgage rates and high prices pushed buyers out of the market. Sales of existing homes — which include single-family homes, townhouses, condominiums and co-ops — were down 28.4% in October from a year ago and 5.9% from September , according to a …
U.S. home sales fell for the ninth straight month in October as soaring mortgage rates and high prices pushed buyers out of the market. Sales of existing homes — which include single-family homes, townhouses, condominiums and co-ops — were down 28.4% in October from a year ago and 5.9% from September , according to a …
