Real estate investors showed signs of resilience amid 2023’s rate volatility, as third-quarter purchases surpassed pre-pandemic levels according to Corelogic. Between July and September, large and mega investors (those who own 100 properties or more on average) acquired between 8,000 to 10,000 homes each per month, up by about 1,000 from third quarter 2019, the
Mortgage rates declined significantly over the past week, marking the eighth straight week of falling interest rates. The 30-year fixed mortgage rate is 6.61% for the week ending December 28, 2023, according to data from Freddie Mac. This represents a decrease of -0.06% from a week ago. The 15-year fixed rate mortgage stands at 5.93%.
Leeds Building Society is making reductions on products across its mortgage range – from 2 January. The changes include: Hero Products: Two-year fixed rate – available up to 75% LTV Fixed rate of 4.60% up to and including 31st March 2026 Followed by a 0.75% discount from SVR (current rate 7.49%) up to and including
High Mortgage Rates in 2023: Potential Shifts in the 2024 Housing Market In 2023, high mortgage rates have left potential homebuyers and sellers in a quandary, triggering a seismic shift in the previously booming housing market. Bank of America’s survey has unraveled some surprising revelations and changing attitudes towards homeownership. In a survey of 1000
Mortgage rates will spend the bulk of the year in the 6s, with movement below 6 percent confined to the back half of the year. — Greg McBride, Bankrate Chief Financial Analyst Mortgage rates took homebuyers on a roller-coaster ride in 2023. In 2024, the journey should prove less jarring — and mostly downhill. Greg
Cherry Hill Mortgage Investment Co. (NYSE:CHMI – Get Free Report) was the target of a significant drop in short interest in December. As of December 15th, there was short interest totalling 726,600 shares, a drop of 14.6% from the November 30th total of 851,200 shares. Based on an average daily volume of 317,500 shares, the
The rise in mortgage rates in 2023 — they topped out at 8% in October — brought the Triangle’s hot housing market to a grinding halt. But with rates falling back into the 6% range, sales and competition are expected to pick back up in 2024. Mark Parker, vice president of sales at Coldwell Banker
Mortgage Rate Lock: The Phenomenon Stalling the Housing Market The year 2023 witnessed a significant shift in the housing market largely due to a phenomenon known as the “mortgage rate lock in effect.” Under this scenario, a vast majority of homeowners, approximately 85%, have chosen to retain their properties, benefiting from the low mortgage interest
Global Real Estate Markets Face Uncertainty Amid Rising Home Prices and Mortgage Rates In a shift from the norm, American homeownership is seeming increasingly elusive to a larger demographic. The pandemic’s financial pressures, coupled with an influx in home prices, have caused many aspiring homeowners to deem the dream unrealistic. Despite the surge in home
A new mortgage lending program will make it possible for more Native Twin Citians to achieve the dream of home ownership—and to build generational wealth. The Mni Sota Fund, a Native community development financial institution based in Minneapolis, will launch the program by the middle of 2024. The expansion into mortgage lending will allow the