Rising mortgage rates are a trend to watch in the coming weeks and months. Recently, the average 30-year fixed rate tied an eight-month high at 6.46%, according to @bankrate -- the inflationary impacts of the war in Iran are moving markets.
You wouldn’t know it from the dismally low consumer sentiment figures, but Americans’ debt loads are actually in a pretty healthy place overall bankrate.com/mortgages/cons…
You wouldn’t know it from looking at the dismally low consumer sentiment figures, but Americans’ debt loads are actually in a pretty healthy place overall, particularly among homeowners whose often biggest debt enables substantial wealth building. bankrate.com/mortgages/cons…
The Fed held rates steady, and consumers may need to get used to it.
@tedrossman of @Bankrate tells @JD_Durkin "higher for longer could be the mandate" with the average 30-year fixed mortgage rate around 6.4% and credit card rates still close to 20%.
I'll miss Jerome Powell as Fed Chair. He did a good job steering the Fed and the U.S. economy through tumultuous times. Last year, a Bankrate survey of prominent investors gave his chairmanship an average grade of B-plus.
Housing starts popped in March, beating expectations, but building permits plummeted. This foreshadows slower times ahead. The economic uncertainty exacerbated by Iran war impacts and lingering tariff concerns continues to weigh on the housing market.
Pending home sales came in a bit better than expected in March. The Sun Belt led the way, as lower prices and improving inventory are aiding buyers. If recent drops in mortgage rates continue, that would be very welcome news for buyers.
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Pending home sales +1.8% MoM in Feb (better than expected). Lower mortgage rates helped, although they have risen a bit since. If you're looking to buy, be ready to move quickly. Inventory remains constrained. Have to be nimble to snap up the right home at a decent price/rate.
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