Latest Home prices News

Home sales tumble again as mortgage rates surge

May. 19, 2022 10:58 AM EDT

Sales of previously occupied U.S. homes slowed for the third consecutive month in April as mortgage rates surged, driving up borrowing costs for would-be buyers as home prices soared to new highs. Existing home sales fell 2.4% last month from March to a seasonally adjusted annual...

Average long-term U.S. mortgage rates edge down to 5.25%

May. 19, 2022 10:52 AM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates retreated modestly this week, but interest on the key 30-year loan remains at decade-high levels. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate slipped to 5.25% from 5.3% last week. By contrast, the...

Long-term US mortgage rates edge down this week to 5.1%

Apr. 28, 2022 10:01 AM EDT

WASHINGTON (AP) — The average long-term U.S. mortgage rate edged down for the first time in two months following a swift ascent to levels that have not been seen in more than a decade. After seven weeks of increases, the average rate on a 30-year mortgage inched down to 5.1% from...

March home sales fall as mortgage rates, home prices climb

Apr. 20, 2022 10:52 AM EDT

Sales of previously occupied U.S. homes slowed in March to the slowest pace in nearly two years as a swift rise in mortgage rates and record-high prices discouraged would-be homebuyers. Existing home sales fell 2.7% last month from February to a seasonally adjusted annual rate of...

US long-term mortgage rates rise; 30-year loan reaches 5%

Apr. 14, 2022 11:32 AM EDT

WASHINGTON (AP) — Long-term U.S. mortgage rates continued to climb this week as the key 30-year loan rate reached 5% for the first time in more than a decade amid persistent high inflation. The average 5% rate on the 30-year mortgage was up from 4.72% last week, mortgage buyer...

Homebuyers stymied by fewer homes, high prices, rising rates

Apr. 13, 2022 11:21 AM EDT

LOS ANGELES (AP) — Shortly after moving to South Florida for a new job with the U.S. military, Shannon Kaufman and his wife, Wendy, signed up for a whole other mission: buying a home. For months, they scoured listings, strategizing late into the night on which homes to target and...

February home sales fall amid higher mortgage rates, prices

Mar. 18, 2022 11:21 AM EDT

Sales of previously occupied U.S. homes fell in February as competition for a near-record low number of properties on the market drove prices higher and rising mortgage rates kept would-be buyers on the sidelines. Existing home sales fell 7.2% last month from January to a seasonally...

US housing market fuels bidding wars, driving prices higher

Mar. 10, 2022 10:06 AM EST

LOS ANGELES (AP) — Would-be homeowners are increasingly opting to pay sellers more than their asking price in hopes of edging out rival buyers as heightened competition for few homes on the market fuels bidding wars. About 52% of U.S. homes sold in January fetched more than their...