22 Sep 2023
By Lonny Levine
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Challenging Times for Homebuyers: Pending-Home Sales Drop 13%

Challenging Times for Homebuyers: Pending-Home Sales Drop 13%

Market Outlook, Mortgage Rates, Real Estate Trends
  In today's housing market, prospective homebuyers are facing significant challenges. According to a recent Redfin report, pending-home sales have plummeted by 13% compared to this time last year. The culprits? Soaring mortgage rates and rising home prices have left many potential buyers in a holding pattern. However, amidst these difficulties, there's a glimmer of hope, with new listings showing a slight improvement since early September. Soaring Rates and Home Prices: Escalating mortgage rates and home prices are the main culprits behind the declining affordability of homes. Over the four weeks ending on September 17, pending-home sales fell by 13%,…
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24 Apr 2023
By Lonny Levine
What’s Ahead For Mortgage Rates This Week – April 24, 2022

What’s Ahead For Mortgage Rates This Week – April 24, 2022

Financial Reports, Market Outlook, Mortgage, Personal Finance, Real Estate, Real Estate Trends, ,
Last week’s economic reporting included readings on home builder confidence and weekly reports on mortgage rates and jobless claims. NAHB: Home builder confidence increases in April According to the National Association of Home Builders (NAHB), builder confidence in the current housing market conditions increased by one point to an index reading of 45 in April. This was the fourth consecutive month that builder confidence has increased. While builder confidence in current housing market conditions rose two points, builder confidence in expected sales over the next six months rose three points, and builder confidence in prospective buyer traffic in new housing…
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