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Mortgage rates surge to highest level since 2000

Housing Wire

The 30-year fixed-rate mortgage has hit the highest level since the year 2000,” Sam Khater, Freddie Mac’s chief economist said. 28, up 12 basis point from last week ’s 7.19%. By contrast, the 30-year fixed-rate mortgage was at 6.70% a year ago at this time.

Mortgage 462
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Mortgage apps decline 2.3% to the lowest level since 2000

Housing Wire

Demand for mortgage loans declined to the lowest level since 2000 last week due to affordability challenges and uncertainties regarding the U.S. decline from the previous week and fell 82% from the same week in 2021 to its lowest level since November 2000, driven by a 6% drop in conventional refi applications. for the week ending Aug.

Mortgage 383
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Equity surge boosts homeowner net worth by $208K: John Burns 

Housing Wire

Meanwhile, homeowners who bought in January 2000, January 2006 and January 2013 have received boosts of $414,000, $338,000, and $343,000, respectively. Overall, U.S. homeowners held $31.8 trillion in home equity at the end of 2023, up from $15 trillion in 2006, the previous peak of the housing cycle.

Investing 437
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Circa 2000: What agents need to know about Y2K(itchens) and baths

Inman

The ability to discuss style, features and the changing lifestyle of homeowners from one decade to the next will prove to be very helpful in serving an agent's clients.

Agents 148
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Homeowners Have Zero Incentive to Upsize in This Current Housing Market  

Appraisal Buzz

Compare this to 2000-2022, when upgrading to a 25% more expensive home would have required the average homeowner to increase their principal and interest payment by only 40%, or about $400 per month, according to the report.

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Kiavi closes on $350M securitization 

Housing Wire

of all home purchases in Q3 2023, higher than the typical share seen since 2000. According to Attom ’s home flipping report for third-quarter 2023, the national flip rate declined for a second straight quarter to its lowest point in two years. But home flips still represented 7.2%

Investors 427
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Mortgage rates continue falling before Thanksgiving: Freddie Mac

Housing Wire

Except for the last seven weeks, current mortgage rates hit their highest levels since 2000. New construction starts and permits showed surprising strength in October while existing-home sales slumped to their worst reading since 2010.

Mortgage 446