Mortgage interest rates rose to 7.1% this week; despite higher mortgage rates, mortgage applications increased.
Yesterday's inflation figures rose to 3.5%, and as a result, mortgage interest rates are likely to increase in the coming weeks.
March inflation figures were very bad, which also means bad news for interest rates.
The job market is strong, with 303,000 net payroll job additions in March; 39,000 net new jobs in construction means more housing supply is on the way.
Mortgage interest rates continue their now 17-week stay in the mid-6% range, with the current 30-year mortgage interest rate at 6.82%.
Mortgage interest rates have continued in the mid-6% range for 16 weeks, with the 30-year fixed mortgage interest rate down slightly to 6.79% from 6.87% the week prior.
We're seeing more and more women becoming homeowners, with single women making a notable impact in the housing market.
Mortgage interest rates continued their 14-week stay within the mid-6% range this week, falling from 6.88% to 6.74%
In 2022, affordability issues and the ability to work remotely drove 8.2 million Americans to move to different states. Let's take a look at these migration flows.
At the national level, housing affordability increased in January 2024 compared to the previous month, according to NAR’s Housing Affordability Index.
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