Housing: It’s ‘A Tough Time’ for Homebuyers, Analyst Says
Buyers aren’t in driver's seat despite the market cooldown. Mortgage rates have almost doubled since beginning of the year. Fixed mortgage hit 6.29%.
Recent
Mortgage Rates Jump Again, Remain Above 6%
Mortgage rates jumped more than a quarter point this week and remain at the highest level in 14 years, offering no relief to sidelined homebuyers.
Powell Warns of Correction in Once ‘Red-Hot’ Housing Market
Fed Reserve Chair Powell warned that the US housing market is likely to suffer a reversal in the wake of policy makers’ interest-rate hikes.
Housing Affordability Hits Worst Level in 37 Years
It now takes 35.51% of the median household income to make a principal and interest payment on the median home with 20% down.
Mortgage Rates Close in on 6%, Highest Since 2008
Rates have surged nearly three-quarters of a point in just three weeks and are now over 2.5 percentage points higher than the start of this year.
Jim Cramer Has Turned On Cryptocurrency But Is Bullish On Multifamily Real Estate
Talk show host Jim Cramer is veering away from speculative assets. This is not surprising, as Fed's hawkish stance has sent shockwaves across markets.
Housing Expert: ‘This Might be the Worst Time You Could Buy’
“From an affordability perspective, this might be the worst time you could buy because mortgage rates have spiked quite a bit,” Chistopher Mayer.
