But even these highest-since-2007 mortgage rates are still far below the highest-since-1981 inflation. ByΒ Wolf RichterΒ forΒ WOLF STREET. In the week ended September 30, demand for mortgages to purchase a home plunged by 13%, seasonally adjusted, from the already beaten-down levels in the prior week, according to the Mortgage Bankers Association today. Compared to the same week last year, purchase mortgage applications dropped by 37%. They fell through the lows during the lockdowns and hit the ...
But even these highest-since-2007 mortgage rates are still far below the highest-since-1981 inflation. ByΒ Wolf RichterΒ forΒ WOLF STREET. In the week ended September 30, demand for mortgages to purchase a home plunged by 13%, seasonally adjusted, from the already beaten-down levels in the prior week, according to the Mortgage Bankers Association today. Compared to the same week last year, purchase mortgage applications dropped by 37%. They fell through the lows during the lockdowns and hit the ...
We saw recently how mortgage applications have taken a nosedive in the face of rising interest rates, intense competition and rising prices.Β Todayβs graphic from Statista illustrates how the average 30-year fixed mortgage rate has sharply risen to levels not seen since 2008β¦Stay safe and have a Happy Friday! βFor real estate markets, the rising costs of borrowing are further cooling demand for homes and deepening the affordability crisis,β George Ratiu, Senior Economist at Realtor.com ...
We saw recently how mortgage applications have taken a nosedive in the face of rising interest rates, intense competition and rising prices.Β Todayβs graphic from Statista illustrates how the average 30-year fixed mortgage rate has sharply risen to levels not seen since 2008β¦Stay safe and have a Happy Friday! βFor real estate markets, the rising costs of borrowing are further cooling demand for homes and deepening the affordability crisis,β George Ratiu, Senior Economist at Realtor.com ...
Something has to give. And itβs going to be price. ByΒ Wolf RichterΒ forΒ WOLF STREET. The average 30-year fixed mortgage rate today spiked to 6.18%, from 5.85% on Friday, according to the daily index by Mortgage News Daily. Aside from the sheer magnitude of the spike, this was also the highest mortgage rate since collection of the daily data began in April 2009. This was lightning fast, with mortgage rates nearly doubling since the beginning of the year (chart via Mortgage News Daily): Mortg...
Something has to give. And itβs going to be price. ByΒ Wolf RichterΒ forΒ WOLF STREET. The average 30-year fixed mortgage rate today spiked to 6.18%, from 5.85% on Friday, according to the daily index by Mortgage News Daily. Aside from the sheer magnitude of the spike, this was also the highest mortgage rate since collection of the daily data began in April 2009. This was lightning fast, with mortgage rates nearly doubling since the beginning of the year (chart via Mortgage News Daily): Mortg...
Dive Brief:
U.S. companies facing a tight labor market, high turnover and the biggest price pressures in 40 years plan in 2023 to raise worker pay on average by 4.1% β the largest increase in 15 years, according to Willis Towers Watson (WTW).
Nearly three out of four companies (73%) attribute their planned pay increases to the need to attract and retain employees in a highly competitive labor market, WTW said Thursday, describing a survey of 1,430 companies. Almost half of respondents (46%) c...
Dive Brief:
U.S. companies facing a tight labor market, high turnover and the biggest price pressures in 40 years plan in 2023 to raise worker pay on average by 4.1% β the largest increase in 15 years, according to Willis Towers Watson (WTW).
Nearly three out of four companies (73%) attribute their planned pay increases to the need to attract and retain employees in a highly competitive labor market, WTW said Thursday, describing a survey of 1,430 companies. Almost half of respondents (46%) c...
No folks, there is no βhousing shortage.β Thereβs over 9 monthsβ supply, highest since the Housing Bust. But prices are still way too high. ByΒ Wolf RichterΒ forΒ WOLF STREET. The median price of new single-family houses that were sold in June plunged by 9.5% from May, to $402,400, the lowest since June last year, according to the Census Bureau today. The plunge in June after the drop in May reduced the year-over-year gain to 7.4%, from the 20%+ in the spring. Median prices are noisy wit...
No folks, there is no βhousing shortage.β Thereβs over 9 monthsβ supply, highest since the Housing Bust. But prices are still way too high. ByΒ Wolf RichterΒ forΒ WOLF STREET. The median price of new single-family houses that were sold in June plunged by 9.5% from May, to $402,400, the lowest since June last year, according to the Census Bureau today. The plunge in June after the drop in May reduced the year-over-year gain to 7.4%, from the 20%+ in the spring. Median prices are noisy wit...
