Latest real estate news and analysis tagged with mortgage rates on realestatenews.news.
Roughly 47,000 U.S. home-sale contracts fell apart in April, but the cancellation rate edged down slightly as sellers grew more flexible and buyers adjusted to elevated mortgage costs.
A surge in mortgage rates to their highest level since last July has interrupted several weeks of improving homebuying demand, pushing pending sales lower and cooling purchase applications.
April's inflation data came in slightly above forecasts, reinforcing the Federal Reserve's case to keep rates unchanged. In the near term, mortgage rates are expected to follow oil prices and progress in Middle East peace negotiations more closely than any single economic release.
Markets will parse April inflation data and any developments in Iran’s talks, keeping mortgage rates volatile. Key economic releases and Fed commentary add to the uncertainty.
Payrolls surprised on the upside while wage growth cooled. The Fed is likely to keep policy steady, leaving mortgage rates more tied to oil and geopolitical risk.
Surveys show most owners with low mortgage rates plan to stay put, though lifestyle changes and buyer remorse could boost listings over time.
A temporary pullback in mortgage rates and slightly higher inventory helped push pending contracts to their strongest level in nearly four years, Redfin says.
A short-lived dip in mortgage rates pushed pending contracts to a near four-year high, but overall spring activity remains slower than in past years.
Freddie Mac says the average 30-year mortgage climbed to 6.37%, with 15-year rates also moving higher amid bond-market volatility and oil-driven inflation worries.
Persistent inflation and higher borrowing costs are squeezing household budgets and cooling demand for new homes, leaving Florida buyers and builders cautious.
Mortgage-purchase applications and pending sales rose in late April as the average 30-year rate fell to 6.23%, improving affordability and drawing more sellers to market.
Since GPT‑3.5's debut in late 2022, Bay Area zip codes in the top 5% by price have seen far larger gains than lower tiers, widening local housing inequality.
High-end San Francisco sales climbed sharply in March as tight inventory and strong AI-sector pay pushed median luxury prices to a record March level.
