Despite rate hike, new mortgages in Atlanta jumped last month
Despite rate hike, new mortgages in Atlanta jumped last month
In a typical housing market, rising interest rates would suppress demand for home purchases because they make monthly mortgage payments more expensive. The current housing market is anything but typical.
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In a typical housing market, rising interest rates would suppress demand for home purchases because they make monthly mortgage payments more expensive. The current housing market is anything but typical.
In a typical housing market, rising interest rates would suppress demand for home purchases because they make monthly mortgage payments more expensive. The current housing market is anything but typical.
As fixed mortgage rates continued to rise last week, variable-rate holders are expected to see their own increase next week.
As fixed mortgage rates continued to rise last week, variable-rate holders are expected to see their own increase next week.
Analysis and Data
Freddie Mac: Mortgage Rates Jumped Last Week
Doug Page
Jul 14, 2022
30-year fixed mortgage moves up to 5.51%
In a possible signal of what might be coming, given that inflation is now 9.1%, the 30-year, fixed-rate mortgage jumped 5.51% last week, up from 5.3%, according to Freddie Macโs ...
Analysis and Data
Freddie Mac: Mortgage Rates Jumped Last Week
Doug Page
Jul 14, 2022
30-year fixed mortgage moves up to 5.51%
In a possible signal of what might be coming, given that inflation is now 9.1%, the 30-year, fixed-rate mortgage jumped 5.51% last week, up from 5.3%, according to Freddie Macโs ...
One Atlanta residential broker called the rate hike "un-freaking-precidented."
One Atlanta residential broker called the rate hike "un-freaking-precidented."
All eyes will be on the Bank of Canada's rate decision on Wednesday, which could see the largest rate hike in over 20 years.
All eyes will be on the Bank of Canada's rate decision on Wednesday, which could see the largest rate hike in over 20 years.
If CIBC economists are correct, the Bank of Canadaโs expected rate hike next week will be its last of this rate-hike cycle. In a report published last week, economists Benjamin Tal and Karyne Charbonneau say they expect the Bank of Canada to hike another 75 bps next week, and will then call it a day, leaving the overnight target rate at 3.25% โfor the duration of 2023.โ They also see the 5-year bond yield averaging 2.45% in 2022 and 2.3% in 2023, which they say translates to close to $19 ...
If CIBC economists are correct, the Bank of Canadaโs expected rate hike next week will be its last of this rate-hike cycle. In a report published last week, economists Benjamin Tal and Karyne Charbonneau say they expect the Bank of Canada to hike another 75 bps next week, and will then call it a day, leaving the overnight target rate at 3.25% โfor the duration of 2023.โ They also see the 5-year bond yield averaging 2.45% in 2022 and 2.3% in 2023, which they say translates to close to $19 ...
New mortgages written in metro Atlanta fell for the second consecutive month.
New mortgages written in metro Atlanta fell for the second consecutive month.
According to the monthly Hawaii Vacation Rental Performance Report, vacation rentals statewide were 59% occupied during September.
According to the monthly Hawaii Vacation Rental Performance Report, vacation rentals statewide were 59% occupied during September.
The average monthly rent for a Manhattan apartment surpassed $5,000 for the first time โ and brokers say demand and prices are headed even higher into the fall. The average apartment rent in June was $5,058, the highest on record, according to a report from Miller Samuel and Douglas Elliman. Average rental prices were up 29% over last year, while median rent was up by 25% to $4,050 a month. Aside from pricing out many renters, the increases could have knock-on effects amid broader inflation pr...
The average monthly rent for a Manhattan apartment surpassed $5,000 for the first time โ and brokers say demand and prices are headed even higher into the fall. The average apartment rent in June was $5,058, the highest on record, according to a report from Miller Samuel and Douglas Elliman. Average rental prices were up 29% over last year, while median rent was up by 25% to $4,050 a month. Aside from pricing out many renters, the increases could have knock-on effects amid broader inflation pr...