Almost 30 percent fewer mortgage applications in 2023 than a year ago
11 months, 2 weeks ago

Almost 30 percent fewer mortgage applications in 2023 than a year ago

NL Times  

There was a 30 percent decrease in mortgage applications last year compared to 2022. The number of mortgage applications on the buyers' market was almost 8 percent lower than in 2022. According to HDN director Reinier van der Heijden, this has to do with the "unruly start" of the year. According to HDN, this is partly due to the number of mortgage applications for new-build homes.

Market Applications Mortgage Mortgage Applications Hdn  according  number  market  fewer  2023  applications  buyers  hdn  ago  average  2022  mortgage  30

History of this topic

Economists’ 2025 housing market forecasts largely call for mortgage rates to stay above 6% next year
1 week, 3 days ago

Economists’ 2025 housing market forecasts largely call for mortgage rates to stay above 6% next year

Associated Press  

LOS ANGELES — Home shoppers hoping for more attractive mortgage rates next year may be disappointed. Most of the eight forecasts call for the average rate on a 30-year mortgage to remain above 6% next year, with some including an upper range as high as 6.8%. “Even by the end of next year it’s hard to see sub 6% mortgage …

Mortgage rates: Bad news if you’re looking to buy a house in the next two years
1 month ago

Mortgage rates: Bad news if you’re looking to buy a house in the next two years

CNN  

Washington CNN — Americans looking to purchase a home in the next few years will have a tough pill to swallow. Mortgage rates are now expected to stay stuck above 6% for at least the next two years, according to economists and recent forecasts. Wells Fargo economists project mortgage rates to average 6.3% by the end of next year, according …

US home sales rose in October, notching their first annual gain in more than 3 years
1 month ago

US home sales rose in October, notching their first annual gain in more than 3 years

Associated Press  

LOS ANGELES — Sales of previously occupied U.S. homes rose in October, the first annual gain in more than three years, with home shoppers encouraged by easing rates and a pickup in properties on the market. Existing home sales rose 3.4% last month, from September, to a seasonally adjusted annual rate of 3.96 million, the National Association of Realtors said …

Mortgage pain fuels highest rise in home ownership costs in 30 years
1 month ago

Mortgage pain fuels highest rise in home ownership costs in 30 years

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Soaring monthly mortgage payments are …

US home sales fell in August despite easing mortgage rates, more homes on the market
3 months ago

US home sales fell in August despite easing mortgage rates, more homes on the market

Hindustan Times  

LOS ANGELES — Sales of previously occupied U.S. homes fell in August to the slowest annual pace in nearly a year even as mortgage rates eased and the supply of properties on the market continued to rise. Sales of previously occupied U.S. homes fell in August to the slowest annual pace in nearly a year even as mortgage rates eased …

US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices
5 months ago

US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices

Associated Press  

LOS ANGELES — The nation’s housing slump deepened in June as sales of previously occupied homes slowed to their slowest pace since December, hampered by elevated mortgage rates and record-high prices. Existing home sales sank to a nearly 30-year low last year as the average rate on a 30-year mortgage surged to a 23-year high of 7.79%, according to mortgage …

The US housing slump deepened this spring. Where does that leave home shoppers and sellers?
5 months, 2 weeks ago

The US housing slump deepened this spring. Where does that leave home shoppers and sellers?

Associated Press  

LOS ANGELES — The housing market shows few signs of busting out of its three-year funk after a disappointing spring season and amid a gloomy outlook for the summer and fall. The weak spring sales are a reflection of the affordability challenges many home shoppers face: the average rate on a 30-year mortgage rate is moored near 7%; the supply …

Market for newly built homes slows as elevated mortgage rates put off many home shoppers
5 months, 3 weeks ago

Market for newly built homes slows as elevated mortgage rates put off many home shoppers

Associated Press  

LOS ANGELES — Homebuilders who bucked the worst of last year’s housing slump may be seeing their luck run out. The recent slowdown in new home sales marks a shift from last year, when sales rose nationally for the first time in two years, climbing 4.2% from a year earlier. As last year, homebuilders have lowered prices and offered incentives …

US home sales fall for the 3rd straight month in May amid rising mortgage rates, record-high prices
6 months ago

US home sales fall for the 3rd straight month in May amid rising mortgage rates, record-high prices

Associated Press  

LOS ANGELES — Sales of previously occupied U.S. homes fell in May for the third straight month as rising mortgage rates and record-high prices discouraged many prospective homebuyers during what’s traditionally the housing market’s busiest period of the year. “We had low home sales activity, prices are hitting record highs and homes look like they’re still getting multiple offers.” The …

Average long-term US mortgage rate falls again, easing to lowest level since early April
6 months ago

Average long-term US mortgage rate falls again, easing to lowest level since early April

Associated Press  

LOS ANGELES — Home loan borrowing costs eased again this week as the average rate on a 30-year mortgage declined to its lowest level since early April. “Mortgage rates fell for the third straight week following signs of cooling inflation and market expectations of a future Fed rate cut,” said Sam Khater, Freddie Mac’s chief economist. Federal Reserve officials said …

US home sales post second straight monthly drop; house prices accelerate
7 months ago

US home sales post second straight monthly drop; house prices accelerate

Live Mint  

* Existing home sales fall 1.9% in April * Housing inventory increases 9% to 1.21 million * Median house price rises 5.7% to $407,600 from year ago By Lucia Mutikani WASHINGTON, May 22 - U.S. existing home sales unexpectedly fell in April as higher mortgage rates and house prices weighed on demand, dealing another setback to the housing market. Though …

U.S. existing home sales drop 1.9% in April, pushed lower by high rates and high prices
7 months ago

U.S. existing home sales drop 1.9% in April, pushed lower by high rates and high prices

Associated Press  

WASHINGTON — High mortgage rates and rising prices continued to put a damper on the spring homebuying season last month. Existing home sales fell 1.9% to a seasonally adjusted annual rate of 4.14 million in April from a revised 4.22 million in March, the National Association of Realtors reported Wednesday. Homeowners have hesitated to put their houses on the market …

Long-term mortgage rates retreat for second straight week, US average at 7.02%
7 months, 1 week ago

Long-term mortgage rates retreat for second straight week, US average at 7.02%

Associated Press  

The average rate on a 30-year mortgage in the U.S. fell for the second straight week, giving some relief to home shoppers already facing sky-high prices and a shortage of supply. The average 30-year rate fell to 7.02% from 7.09% last week, mortgage buyer Freddie Mac said Thursday. Mortgage rates are influenced by several factors, including how the bond market …

More mortgage applications from first-time homebuyers in April than the previous 5 years
7 months, 3 weeks ago

More mortgage applications from first-time homebuyers in April than the previous 5 years

NL Times  

The number of first-time homebuyers that applied for a mortgage in April was the highest it has been in five years, mortgage data firm HDN reported. Around 14,500 first-time buyers applied for a mortgage in the Netherlands last month, an increase of 21 percent compared to April 2023, when just under 12,000 applied. The mortgage market had a strong recovery …

US Existing-Home Sales Decline as Rates Keep Buyers Sidelined
8 months ago

US Existing-Home Sales Decline as Rates Keep Buyers Sidelined

Live Mint  

-- Sales of previously-owned homes in the US fell in March from a one-year high, underscoring the lingering impact of high mortgage rates and elevated prices. “Though rebounding from cyclical lows, home sales are stuck because interest rates have not made any major moves,” NAR Chief Economist Lawrence Yun said in a statement. At the current sales pace, selling all …

Average long-term US mortgage rate climbs above 7%
8 months ago

Average long-term US mortgage rate climbs above 7%

Associated Press  

LOS ANGELES — Prospective homebuyers are facing higher costs to finance a home with the average long-term U.S. mortgage rate moving above 7% this week to its highest level in nearly five months. “Last week, purchase applications rose modestly, but it remains unclear how many homebuyers can withstand increasing rates in the future.” AP AUDIO: Average long-term US mortgage rate …

Home sales rose in January as easing mortgage rates, more homes for sale enticed homebuyers
10 months ago

Home sales rose in January as easing mortgage rates, more homes for sale enticed homebuyers

Associated Press  

LOS ANGELES — Sales of previously occupied U.S. homes rose in January as homebuyers were encouraged by easing mortgage rates and a modest pickup in properties on the market. Existing home sales rose 3.1% last month from December to a seasonally adjusted annual rate of 4 million, the National Association of Realtors said Thursday. “While home sales remain sizably lower …

2023 was slowest year for US home sales in nearly 30 years as high mortgage rates frustrated buyers
11 months ago

2023 was slowest year for US home sales in nearly 30 years as high mortgage rates frustrated buyers

Associated Press  

LOS ANGELES — Sales of previously occupied U.S. homes sank in 2023 to a nearly 30-year low, as sharply higher mortgage rates, rising prices and a persistently low level of homes on the market combined to push homeownership out of reach for many Americans. Last year’s home sales slump echoes the nearly 18% annual decline in 2022, when mortgage rates …

Boost for homebuyers: Average long-term mortgage rate falls to 6.6%, lowest level since May
11 months ago

Boost for homebuyers: Average long-term mortgage rate falls to 6.6%, lowest level since May

Associated Press  

LOS ANGELES — The average long-term U.S. mortgage rate fell this week to its lowest level since May, welcome news for prospective homebuyers facing rising home prices and intense competition for relatively few properties on the market. The average rate on a 30-year mortgage dropped to 6.6% from 6.66% last week, mortgage buyer Freddie Mac said Thursday. The decline, which …

Squeeze on home buyers’ budgets set to continue into 2024, say experts
11 months, 3 weeks ago

Squeeze on home buyers’ budgets set to continue into 2024, say experts

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Overall, we predict a modest average fall of 1% …

Down again: Average long-term US mortgage rate falls to 6.67%, lowest level since June
1 year ago

Down again: Average long-term US mortgage rate falls to 6.67%, lowest level since June

Associated Press  

LOS ANGELES — Home loan financing costs eased again this week, pulling the average long-term U.S. mortgage rate down to a six-month low. The average rate on a 30-year mortgage dropped to 6.67% from 6.95% last week, mortgage buyer Freddie Mac said Thursday. Mortgage rates have been easing since late October, when the average rate on a 30-year home loan …

The average long-term US mortgage rate falls to 7.22%, sliding to lowest level since late September
1 year ago

The average long-term US mortgage rate falls to 7.22%, sliding to lowest level since late September

Associated Press  

LOS ANGELES — The average long-term U.S. mortgage rate fell for the fifth week in a row, more good news for prospective homebuyers grappling with an increasingly unaffordable housing market. The latest decline brought the average rate on a 30-year mortgage down to 7.22% from 7.29% last week, mortgage buyer Freddie Mac said Thursday. “The current trajectory of rates is …

Have home prices bottomed? While low housing inventory stymies sales, bidding wars prop up prices
1 year, 4 months ago

Have home prices bottomed? While low housing inventory stymies sales, bidding wars prop up prices

Associated Press  

LOS ANGELES — The U.S. housing market remains in a deep sales slump, but the worst declines may be over when it comes to home prices. If mortgage rates remain elevated and inventory continues rising, the combination could weigh on home prices and cause the national median sales price to dip this fall, said Lisa Sturtevant, chief economist at Bright …

Average mortgage amount rising after 14 months of decline; Highest since April 2022
1 year, 4 months ago

Average mortgage amount rising after 14 months of decline; Highest since April 2022

NL Times  

The average mortgage amount for purchasing a home rose by 4 percent in July compared to last year to 321,818 euros. That is the highest level since April 2022, according to figures from De Hypotheker. According to De Hypotheker, this indicates that the housing market may be gradually recovering despite the rise in mortgage interest rates. The housing supply increased …

Home sales in June fell to the slowest pace since January with near-historic low inventory for sale
1 year, 5 months ago

Home sales in June fell to the slowest pace since January with near-historic low inventory for sale

Associated Press  

LOS ANGELES — Sales of previously occupied U.S. homes fell in June to the slowest pace since January, as a near-historic low number of homes for sale and rising mortgage rates kept many would-be homebuyers on the sidelines. The national median sales price fell on an annual basis for the fifth month in a row, though fierce competition led to …

Average long-term US mortgage rate falls to 6.67%, third straight drop since climbing to 2023 high
1 year, 6 months ago

Average long-term US mortgage rate falls to 6.67%, third straight drop since climbing to 2023 high

Associated Press  

LOS ANGELES — The average long-term U.S. mortgage rate fell for the third time in as many weeks, a welcome boost for homebuyers facing a housing market that’s been held back this year by a tight inventory of homes for sale. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year home loan fell to 6.67% …

May home sales rise with near record-few on the market and biggest annual price drop since 2011
1 year, 6 months ago

May home sales rise with near record-few on the market and biggest annual price drop since 2011

Associated Press  

LOS ANGELES — Sales of previously occupied U.S. homes edged higher in May and the national median sale price posted its biggest annual drop in more than a decade, as a near all-time low supply of available properties constrained the housing market. Existing home sales rose 0.2% last month from April to a seasonally adjusted annual rate of 4.3 million, …

Looking for a house? High mortgages, few homes lead to biggest annual price drop in 11 years
1 year, 7 months ago

Looking for a house? High mortgages, few homes lead to biggest annual price drop in 11 years

Associated Press  

LOS ANGELES — A persistently low inventory of homes on the market held back U.S. home sales again in April, even as the national median sale price posted its biggest annual drop in 11 years. Existing home sales fell 3.4% in April from March to a seasonally adjusted annual rate of 4.28 million, the National Association of Realtors said Thursday. …

Sale of newly constructed homes falls by half; Housing minister concerned
1 year, 8 months ago

Sale of newly constructed homes falls by half; Housing minister concerned

NL Times  

Sales of new construction homes fell by half in the last quarter of 2022 compared to a year earlier, Statistics Netherlands said this week. The cause of the trend is likely due to the limited growth of new homes placed on the market, said CBS Chief Economist Peter Hein van Mulligen. “Then you get an interest rate shock: both buyers …

Mortgage applications dropped by half in February
1 year, 9 months ago

Mortgage applications dropped by half in February

NL Times  

Netherlands residents applied for half as many mortgages in February as in the same month last year, mortgage adviser De Hypotheker reported. In February 2022, demand for new mortgages reached a record high because many people wanted to refinance their mortgages, given looming interest rate hikes. “Although they take into account the still high house prices and higher interest rates, …

Mortgage applications drop to 28-year low as rates climb
1 year, 9 months ago

Mortgage applications drop to 28-year low as rates climb

CNN  

Washington, DC CNN — Applications for a mortgage fell for the third week in a row and now sit at a 28-year low for the second-straight week, according to data released Wednesday. With mortgage rates half a percentage point higher over the past month, home buyers are pulling back even as the spring home buying season should be heating up. …

US home sales fell again in January; prices edged higher
1 year, 10 months ago

US home sales fell again in January; prices edged higher

Associated Press  

LOS ANGELES — The nation’s housing slump dragged on into January as home sales fell for the 12th consecutive month to the slowest pace in more than a dozen years. The National Association of Realtors said Tuesday that existing U.S. home sales fell to a seasonally adjusted annual rate of 4 million properties last month. The modest monthly sales drop …

40% of home buyers end 2022 were first-time buyers
1 year, 10 months ago

40% of home buyers end 2022 were first-time buyers

NL Times  

Four out of ten people who bought an existing home at the end of last year were first-time buyers, slightly more than the year before. Home prices had dropped in the last quarter of 2022 compared to the previous months but were still higher than at the end of 2021, according to housing market figures from the Land Registry. Prices …

More people under 30 applying for mortgages
1 year, 10 months ago

More people under 30 applying for mortgages

NL Times  

There was a sharp increase in young people under 30 applying for mortgages last month compared to January 2022. In relation to all mortgage applications, the proportion of young adults applying last month increased significantly. “Young home buyers are gradually getting a foot in the door as a result.” Many young people still couldn't buy a home because the average …

Average long-term mortgage rate at lowest level in 4 months
1 year, 10 months ago

Average long-term mortgage rate at lowest level in 4 months

Associated Press  

The average long-term U.S. mortgage rate fell to its lowest level in more than four months, giving some relief to homebuyers faced with higher prices for just about everything, including homes. The big rise in mortgage rates during the past year has throttled the housing market, with sales of existing homes falling for 11 straight months to the lowest level …

2022 was slowest year for US home sales in nearly a decade
1 year, 11 months ago

2022 was slowest year for US home sales in nearly a decade

Associated Press  

LOS ANGELES — U.S. home sales tumbled to the slowest pace in nearly a decade as soaring mortgage rates and sky high prices in 2022 pushed homeownership out of reach for many Americans. The National Association of Realtors said Friday that existing U.S. home sales totaled 5.03 million last year, a 17.8% decline from 2021. “The one big negative for …

Average long-term US mortgage rate lowest since September
1 year, 11 months ago

Average long-term US mortgage rate lowest since September

Associated Press  

WASHINGTON — The average long-term U.S. mortgage rate fell this week to its lowest level since September, a potential boost to the housing market which has been in decline for nearly a year. The big rise in mortgage rates during the past year has throttled the housing market, with sales of existing homes falling for 10 straight months to the …

Mortgage applications dropped by half in 4th quarter; Fewer homes sold
1 year, 11 months ago

Mortgage applications dropped by half in 4th quarter; Fewer homes sold

NL Times  

The total number of mortgage applications in the fourth quarter almost halved compared to the same period a year ago. According to De Hypotheker, a chain of mortgage advisers, the total number of mortgage applications fell by 45 percent last quarter. Throughout 2022, the total number of mortgage applications fell by 6 percent compared to a year earlier. Fewer homes …

The housing market in 2022 has been anything but boring
1 year, 11 months ago

The housing market in 2022 has been anything but boring

Dutch News  

Rising interest rates, falling house prices, fewer deals, more properties – the Dutch housing market was far from dull in 2022, says financial advisor José de Boer. For a start, the government is increasing the transfer tax on buy-to-let properties from 8% to 10.4%, in an effort to dissuade people from buying up homes as an investment – so that …

Home buyers get some relief as mortgage rates come off 7% highs
2 years ago

Home buyers get some relief as mortgage rates come off 7% highs

LA Times  

A home for sale in the Mission Hills area of Los Angeles in October. “There’s a good chance we have seen the top” in mortgage rates, said Keith Gumbinger, vice president of research firm HSH.com. Home prices have declined recently — about 6% from May in Los Angeles County — largely because higher rates have sapped people’s buying power. If …

Mortgage approvals fall to lowest level since Covid hit
2 years ago

Mortgage approvals fall to lowest level since Covid hit

The Telegraph  

The mortgage market chaos following Liz Truss's mini-Budget pushed down approvals for home loans to their lowest level in more than two years in October. The figures cover the period immediately after Kwasi Kwarteng delivered the mini-Budget when lenders withdrew hundreds of mortgage products and rates were pushed up in response to expectations for aggressive Bank of England action. Forecasters …

House prices expected to fall by 9% over next two years, says OBR
2 years, 1 month ago

House prices expected to fall by 9% over next two years, says OBR

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The economic and fiscal outlook was released as Chancellor …

US home sales fell in September for eighth straight month
2 years, 2 months ago

US home sales fell in September for eighth straight month

Associated Press  

Sales of previously occupied U.S. homes fell in September for the eighth month in a row, matching the pre-pandemic sales pace from 10 years ago, as house hunters grappled with sharply higher mortgage rates, rising home prices and a still tight supply of properties on the market. The National Association of Realtors said Thursday that existing home sales fell 1.5% …

Rising mortgage rates are sending home prices lower
2 years, 2 months ago

Rising mortgage rates are sending home prices lower

LA Times  

For the first time in a decade, home prices in Southern California are definitively falling. Other measures of home prices, including data from mortgage services firm Black Knight and John Burns Real Estate Consulting, show similar or even greater declines from peak prices, providing further evidence the recorded drops aren’t a data anomaly. Few, if any, major real estate experts …

Demand for mortgages plummets as interest rates rise
2 years, 2 months ago

Demand for mortgages plummets as interest rates rise

NL Times  

With mortgage interest rates rising rapidly, far fewer people applied for home loans in the third quarter. There was less demand for the transfer of existing mortgages in particular, but fewer home buyers also knocked on the bank’s door for a mortgage. According to the chain of mortgage advisers, the total number of applications decreased by 20 percent compared to …

Mortgage rates hit their highest level in 14 years at 5.89%
2 years, 3 months ago

Mortgage rates hit their highest level in 14 years at 5.89%

Daily Mail  

Average mortgage rates in the US have risen to their highest level in 14 years, edging closer to 6 percent as it becomes clear to investors that the Federal Reserve will continue its aggressive policy rate hikes to combat inflation. The average rate on a 30-year fixed jumped to 5.89 percent this week, topping June's recent peak and reaching its …

Mortgage rate ticks back up to 5.55% as pending home sales drop
2 years, 3 months ago

Mortgage rate ticks back up to 5.55% as pending home sales drop

Daily Mail  

Average mortgage rates in the US ticked back up this week after easing off recent highs, as new data showed that pending home sales dropped to their lowest level in two years last month. The average rate on a 30-year fixed jumped 42 basis points this week to 5.55%, mortgage buyer Freddie Mac said on Thursday Higher borrowing costs, along …

US home sales fell in June as prices reach new heights
54 years, 11 months ago

US home sales fell in June as prices reach new heights

Associated Press  

Sales of previously occupied U.S. homes slowed for the fifth consecutive month in June as higher mortgage rates and rising prices kept many home hunters on the sidelines. Existing home sales fell 5.4% last month from May to a seasonally adjusted annual rate of 5.12 million, the National Association of Realtors said Wednesday. The June’s sales report is the late …

Average long-term US mortgage rates bounce back up to 5.51%
2 years, 5 months ago

Average long-term US mortgage rates bounce back up to 5.51%

Associated Press  

WASHINGTON — Average long-term U.S. mortgage rates were back up this week, just as the latest government data shows inflation has not slowed, meaning the Federal Reserve is almost certain to raise its benchmark borrowing rate later this month. The Federal Reserve raised its benchmark rate by a half-point in May and another three-quarters of a point last month, the …

Discover Related