. The higher rates are pricing millions of buyers out of the market, while also making it less attractive for current homeowners to refinance their properties. Home loan applications slipped more than 6% for the week ended April 1, according to the Mortgage Bankers Association.
"What it means is any particular home you buy is going to be more expensive to pay for on a monthly basis," Tucker said."For some folks that means looking at a smaller home in a different neighborhood, or a townhouse instead of a detached home."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Climbing mortgage rates result in mortgage application slowdown, 12% decline in refinancing: surveyThe housing market has seen a slowdown in activity despite a strong bump in jobs and wage growth in March.
Source: FoxNews - 🏆 9. / 87 Read more »
As mortgage rates surge higher, these home buyers are being pushed out of the marketMortgage rates have increased to the highest level since 2018, putting a significant strain on families looking to purchase a home this spring. Oh STFU, giving the monied class access to 0%-ish money for 13 years put it out of regular people's hands. The Fed F'd this whole economy up. Oh please!!!! Try paying mortgages without having the interest tax deductible. Sticker shock
Source: MarketWatch - 🏆 3. / 97 Read more »
Rising Mortgage Rates Are Causing More Home Sellers to Lower Their Asking PricesWeakening affordability is causing sellers to get more realistic about their asking prices. There are also more listings coming on the market.
Source: NBCDFW - 🏆 288. / 63 Read more »
Mortgage interest rates hover below 5%A survey released on Wednesday shows the average interest rate kept climbing last week.
Source: 10News - 🏆 732. / 50 Read more »