Staying Put: 85% of Homeowners with Mortgages Have Rate Far Below Current Level

With mortgage interest rates pushing well above 6 percent—the Mortgage Bankers Association on Wednesday reported 30-year rates up by 24 basis points to 6.25%–a growing number of homeowners are reluctant to sell because they have a lower rate locked in, said Redfin, Seattle.

MBA Chart of the Week Aug. 8, 2022: Mortgage Payment to Rent Ratio

This MBA Chart of the Week examines the relationship between mortgage payments and asking rents since the second half of 2009. MBA’s national mortgage payment to rent ratio compares the national median and 25th percentile mortgage payments to the national median asking rent.

Mortgage Applications Increase in MBA Weekly Survey

Mortgage applications increased 2.9 percent from one week earlier, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending Sept. 4.

Redfin Forecast: ‘The Mother of All Inventory Crunches’

Despite a strong start to the 2020 housing market, Redfin, Seattle, said a deepening shortage of homes for sale and surging homebuyer demand are set to push prices up at the fastest rate in years.