Redfin, Seattle, said a homebuyer on a $2,500 monthly budget has lost nearly $120,000 in spending power since the end of last year as mortgage rates have nearly doubled.
Tag: Daryl Fairweather
Housing Market Roundup: May 20, 2022
Catching you up on housing and economic reports that came across the MBA NewsLink desk this week during and after the MBA National Secondary and Capital Markets Conference & Expo in New York:
Redfin: Shrinking Pool of Buyers Snatch Up Homes at Record Pace
Demand for homes is falling, but homes are still selling fast as the buyers who remain rush to beat rapidly rising mortgage rates, said Redfin, Seattle.
Typical Buyer’s Monthly Payment Up Nearly 40%
Redfin, Seattle, reported the typical homebuyer’s monthly mortgage payment shot up 39%, the largest year-over-year gain on record, as the average 30-year-fixed rate hovered at 5.1%.
Housing Market Roundup Apr. 26, 2022
Here is a summary of recent stories of interest to the real estate finance community that have come across the MBA Newslink desk:
Housing Market Roundup: Apr. 8, 2022
Here’s a quick-hit summary of recent housing reports that came across the MBA NewsLink desk:
Housing Market Roundup: Mar. 25, 2022
Here is a summary of housing market reports that came across the MBA NewsLink desk this week:
Housing Market Roundup Mar. 16, 2022: Demand for Vacation Homes Falls to 2-Year Low
Here’s a quick recap of housing market stories that have recently come across the MBA NewsLink desk:
Homeowner Tenure Flattens After 10-Year Rise
The typical American homeowner in 2021 had spent 13.2 years in their home, down slightly from the peak of 13.5 years in 2020 but up significantly from 10.1 years in 2012, said Redfin, Seattle.
Record-High 1 in 3 Homebuyers Looking to Relocate
A record 32.4% of Redfin.com users nationwide looked to move to a different metro area in January, up from the previous peak of 31.5% a year ago and significantly higher than before the pandemic, when one-quarter of homebuyers sought to relocate.