A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber ? You can register here. You can listen to an audio version of the newsletter by clicking on the same link. New York CNN Business — The global economy is weakening and consumers are feeling financially stressed. Gas …
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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 »
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 …
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 …
