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Higher mortgage rates dim hope for a busy spring housing market 

Housing Wire

Higher mortgage rates have zapped mortgage demand, as buyers are having second thoughts about purchasing homes. Mortgage applications for home purchases dropped 6% for the week ending February 24 from the previous week, according to the Mortgage Bankers Association ’s seasonally adjusted index. in the previous week.

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Housing Market Tracker: Inventory drops as mortgage rates move higher

Housing Wire

The housing market experienced more volatility last week, with housing inventory dropping as mortgage rates moved higher. The start of 2023 has been good, considering mortgage rates have stayed above 6% most of the time. I am keeping an eye on how much growth we can get with mortgage rates over 6%.

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The 2022 housing market: A tale of two halves

Housing Wire

Marty Green thinks of the housing market in 2022 as two very different movies. The first half of the year, with mortgage rates in the 3s and 4s, was like “Fast and Furious.” ” Houses were selling at a fever pitch in a matter of days, with multiple offers, waived contingencies and buyers paying $100,000(!)

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The 2023 housing market is at odds with itself

Housing Wire

A paradoxical picture is emerging as the spring market is underway. On the one hand, elevated mortgage rates continue to erode buyers’ purchasing power, and in some markets, home prices are falling. All major housing market metrics point to a restrained housing market. Mortgage rate fatigue.

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Fannie Mae’s chief economist on housing market outlook

Housing Wire

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. this week, Fannie Mae Chief Economist Doug Duncan believes that mortgage rates will stay elevated before the Fed makes further rate cuts. Kim: Spreads in the mortgage space are wide.

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Anywhere reports losses amid slow housing market

Housing Wire

Anywhere demonstrated our leadership strength in 2023, driving meaningful results in a tough real estate market,” Ryan Schneider , Anywhere president and CEO, said in a statement. “In The company produced these results amid “an incredibly difficult year for the housing market,” Schneider said during an earnings call on Thursday.

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The Red-Hot Housing Market

Housing Wire

This article is part of our 2022-23 Housing Market Forecast series. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business. at the end of 2022.