San Diego Real Estate News
San Diego
U.S. Mortgage Applications Dip in Early June
According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending June 2, 2023, U.S. mortgage applications decreased 1.4 percent from one week earlier. This week's results include an adjustment for the Memorial Day holiday.
Mortgage Rates Continue to Rise in the U.S.
Based on Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 6.79 percent as of June 1, 2023.
Residential Real Estate Investor Activity Down 49 Percent Annually in U.S.
National property broker Redfin reports this week that real estate investors purchased 48.6% fewer homes in the first quarter of 2023 than they did a year earlier as elevated interest rates along with declining rents and housing values ate into potential profits.
Residential Mortgage Originations in U.S. Drop to Lowest Point in 23 Years
Based on ATTOM's latest quarterly 2023 U.S. Residential Property Mortgage Origination Report, just 1.25 million mortgages secured by residential property (1 to 4 units) were originated in the first quarter of 2023 in the United States - the lowest point since late-2000.
