‘The U.S. housing market is crumbling under the weight of higher mortgage rates and rock-bottom affordability’: Prices fell the most in these U.S. states
Americans are finding it hard to afford homes at mortgage levels now beyond 7%, according to some measures. Home prices have begun to reflect that. As mortgage rates rose in the last quarter of 2022, Americans found the cost of homeownership increasingly challenging, adding hundreds of dollars in interest to their potential monthly mortgage payment. […]
Steepest Home-Price Declines in Fourth Quarter Were in the West: WSJ
U.S. home prices rose in the fourth quarter from a year earlier, but once-booming West Coast markets were among a growing number of metro areas to post price declines. Source link
Home-Buying Companies Stuck With Hundreds of Houses as Demand Slows
Ribbon Home Inc. had a fast-growing business during the housing boom. The New York City-based startup purchased homes with cash on behalf of buyers. Then it sold the homes to the buyers at the same price, plus a fee, once the buyers got a mortgage. This approach made their clients’ offers more appealing, since sellers often […]
Mortgage demand falls 9% despite rates falling for fourth week in a row
The numbers: The housing market is not out of the woods yet, as mortgage demand fell again despite an improvement in rates. Despite mortgage rates dropping for the fourth consecutive week, mortgage demand fell 9% in the latest week. Demand for both purchases and refinancing fell. That pushed the market composite index down, a measure […]
‘Recession is underway’: Home builders expect single-family starts to fall further before recovering in the second half of this year
LAS VEGAS — Home builders are expecting a little more pain before business improves. While realtors believe that the housing market is on the mend, home builders are still cautious, with low demand and rising construction costs. Home builders are one of the key contributors to the housing supply. And… Source link
My husband and I rent our second home to our son and his wife. Now we want him to own this house, but keep our 2.5% mortgage rate. How can we do that?
My husband and I bought a second home two years ago, for $160,000, with a 30-year mortgage at 2.5%. We bought it with the sole purpose of renting it out to our son and his new wife. They were recent college graduates, and just starting their careers. They’ve made this house their home. And it’s […]
I’m 65, retired and have a $2,000 pension. Should I sell my rental properties?
Dear MarketWatch, I’m a 65-year-old married man in Southern California. I retired about 5 years ago, and have very little in pension payments of about $2,000 from my old job, without any medical benefits. But I have rental income from about a dozen single-family homes that I collected during my professional career as a civil […]
Want to estimate your monthly energy bill in a new home — before you buy it? This new service may help.
Home shoppers often try to estimate the cost of monthly utilities payments for prospective homes by quizzing real-estate agents. A new feature offered by a brokerage should help demystify that number. The feature, unveiled on Thursday by real-estate brokerage firm Redfin RDFN, +0.33%, provides energy-cost estimates for 85 million homes nationwide. The estimates are provided […]
Australian housing finance (November) dribbling lower in the face of higher interest rates
The next Reserve Bank of Australia meeting is February 7 where analyst consensus is for a +25bp rate hike to take the cash rate to 3.35%. Market pricing is not totally on board with that extent of a hike though. I am: Anyway, Australian housing fiance data for November 2022: ADVERTISEMENT – CONTINUE READING BELOW […]