house prices

Fed Chair Powell: America's 'housing bubble' formed during pandemic and now 'housing market will go through the other side'

Fed Chair Powell: America’s ‘housing bubble’ formed during pandemic and now ‘housing market will go through the other side’

In 2005, Fed Chairman Alan Greenspan told Congress that “a nationwide housing price bubble does not seem likely.” Of course, not only had a housing bubble formed, it was nearing its peak just as Greenspan was delivering this message on Capitol Hill. Fast forward to 2022, and the scars of the last bubble have clearly …

Fed Chair Powell: America’s ‘housing bubble’ formed during pandemic and now ‘housing market will go through the other side’ Read More »

Mortgage rates fall for the second week in a row |  CNN Business

Mortgage rates fall for the second week in a row | CNN Business

Mortgage rates fell again this week, after plunging nearly half a percentage point last week. The 30-year fixed-rate mortgage averaged 6.58% in the week ending Nov. 23, down from 6.61% the previous week, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen for most of 2022, boosted …

Mortgage rates fall for the second week in a row | CNN Business Read More »

Home sales in the United States fall for the 9th consecutive month in October |  CNN Business

Home sales in the United States fall for the 9th consecutive month in October | CNN Business

U.S. home sales fell for the ninth straight month in October as soaring mortgage rates and high prices pushed buyers out of the market. Sales of existing homes — which include single-family homes, townhouses, condominiums and co-ops — were down 28.4% in October from a year ago and 5.9% from September , according to a …

Home sales in the United States fall for the 9th consecutive month in October | CNN Business Read More »

It's a terrible time to buy a house.  Here's what to know if you still have to do it |  CNN Business

It’s a terrible time to buy a house. Here’s what to know if you still have to do it | CNN Business

There is no coating: it’s a terrible time to buy a house. Mortgage rates for a 30-year fixed-rate loan are now hovering above 7%, more than 4 percentage points higher than a year ago. This reduced the purchasing power of a typical buyer by 14%, according to Black Knight, a mortgage data company. With fewer …

It’s a terrible time to buy a house. Here’s what to know if you still have to do it | CNN Business Read More »