In 2023, U.S. developers built 93,000 single-family homes as rental units, leaping 39 percent above the number in 2022 and setting a record, according to John Burns Research and Consulting.
Tag: Mortgage Rates
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SLAVELANDIA: MOST RENTERS DOUBT THEY WILL EVER OWN A HOME
Six in 10 renters believe they will never be able to own a home, a record proportion in the Federal Reserve Bank of New York’s annual Survey of Consumer Expectations.
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SALES OF EXISTING HOMES FELL IN MARCH
Last month, sales of previously owned homes declined 4.3 percent compared to February and 3.7 percent year on year, the National Association of Realtors (NAR) reported.
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RISING MORTGAGE RATES SPOOK HOME BUYERS
The average U.S. rate on a 30-year, fixed-rate mortgage rose last week to 6.88 percent from 6.82 percent the week before, the Federal Home Loan Mortgage Corp. (Freddie Mac) reported.
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FEBRUARY HOME SALES UP MOST IN A YEAR
In February, 9.5 percent more U.S. homes sold than in January, the National Association of Realtors (NAR) reported. Although sales were down 3.3 percent year on year, February this year marked the largest monthly jump since February 2023.
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MORTGAGE RATES CLIMBING: REAL ESTATE COLLAPSE COMING?
The interest rate on a home mortgage loan has risen to its highest since mid-December, stalling progress on reviving the housing market.
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HOME SALES SLOWEST SINCE 2010: WHAT’S NEXT?
In October, the pace of U.S. existing home sales dropped 4.1 percent from September to 3.79 million, the least in any month since August 2010, the National Association of Realtors (NAR) announced. Sales for the month were 14.6 percent fewer than those in October 2022.
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MORTGAGE RATES RISE TO 23-YEAR HIGH
Last week, the mortgage interest rate for a 30-year, fixed-rate mortgage averaged 7.57 percent, according to the Federal Home Loan Mortgage Corp. (Freddie Mac), up from 7.49 percent the week before.
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U.S. MORTGAGE INTEREST RATE HIGHEST IN 23 YEARS, APPLICATIONS CRASH
During the week ending 29 September, the average U.S. interest rate on a 30-year, fixed-rate mortgage surpassed 7.5 percent for the time since November 2000, plunging applications for new and refinanced home loans to their fewest since 1996, according to the Mortgage Bankers Association.
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RISING INTEREST RATES SINK MORTGAGE MARKET
The highest mortgage interest rates in 23 years have sunk demand for new mortgage loans to their lowest in 27 years.
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