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Author: John Kistner
John Kistner is Guaranteed Rate’s Market Analyst. Market Updates are designed to provide readers with a high-level yet insightful view of how economic news, events and trends affect mortgage rates and the homebuying process.
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Federal Reserve Chairman Jerome Powell’s hawkish speech at Jackson Hole last Friday sent the Dow Jones Industrial Average spiraling down over 1,000 points on Friday. The slide continued on Monday, but the movement wasn’t quite as dramatic as last week.
Just when you thought home prices were headed to the next galaxy, buyer apathy is starting to reverse course. A recent report reveals average home prices declined 0.77% in July. If you’re thinking big deal, think again. This fraction of a percent is the largest one-month price drop in 11 years. And some larger markets out west have seen home prices drop an average of 4-10%. All good news for homebuyers who’d all but given up because of affordability issues. Let’s hope the trend continues.
Just when you thought home prices were headed to the next galaxy, buyer apathy is starting to reverse course. A recent report reveals average home prices declined 0.77% in July. If you’re thinking big deal, think again. This fraction of a percent is the largest one-month price drop in 11 years. And some larger markets out west have seen home prices drop an average of 4-10%. All good news for homebuyers who’d all but given up because of affordability issues. Let’s hope the trend continues.
The kids are headed back to school, but homebuyers are still in timeout waiting for mortgage rates and home prices to pull back. Last week’s …
There’s a lot of doubt as to whether or not the economy is in a recession, but the recent National Association of REALTORS® confirmed we’re …
The Federal Reserve continued rate hikes have been a major factor in pushing mortgage rates up, making purchasing a new home more expensive. If that weren’t enough, …
Monday’s National Association of Home Builders’ (NAHB) report indicated July multifamily permits, apartment and condo buildings, were up 2.5% from June. Meaning apartments and condos might be …
While stock futures started the day down, the bulls roared back later in the session hoping to extend the winning streak for a fifth week …