Based on Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 7.29 percent. This week's results include an adjustment for the observance of Thanksgiving.
Among the four major U.S. regions, sales slid in the Northeast, South and West but were unchanged in the Midwest. All four regions experienced year-over-year sales declines.
Based on new data from Redfin, U.S. home sellers gave concessions to buyers in 35% of U.S. home sales during the three months ending Oct. 31, 2023. That's about the same as one year earlier, but up from 27.6% from two years ago.
According to the Mortgage Bankers Association's latest commercial real estate finance Loan Performance Survey, U.S. delinquency rates for mortgages backed by commercial and multifamily properties increased during the third quarter of 2023.
According to Redfin, a homebuyer must earn $114,627 to afford the median-priced U.S. home, up 15% ($15,285) from a year ago and up more than 50% since the start of the pandemic. That's the highest annual income necessary to afford a home on record.
Posted on October 19, 2023
Posted on June 20, 2023