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Rates fall for the fourth week in a row
Mortgage application activity sunk to a quarter-century low this week as high mortgageRates continue to weaken the housing market, Sam Khater, Freddie Mac’s ChiefEconomist said. “This one percentage points reduction in rates can allow…three million more mortgage-ready consumers to qualify and afford a $400,000 loan, which is the median home price,” he added.
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Mortgage rates start to go up more quickly than they did a year ago
Mortgage rates are “critical” to the path of the housing market in the year ahead, Jeff Tucker, senior economist at Zillow, said. “Mortgage application activity sunk to a quarter-century low this week as high mortgage rates continue to weaken the housing market,” said Sam Khater, Freddie Mac’s Chief Economist. US home prices dropped for the…
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The Fed is about to raise the interest rate
Mortgage rates are expected to come down next year, according to data from Freddie Mac. “This one percentage point reduction in rates can allow as many as three million more mortgage-ready consumers to qualify and afford a $400,000 loan, which is…median home price,” said Sam Khater, Freddie Mac’s chief economist. Home prices in the US…
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A sudden shift in global wealth will take a number of years to recover from.
Mortgage application activity sunk to a quarter-century low this week as high mortgage rates continue to weaken the housing market, said Sam Khater, Freddie Mac’s chief economist. ” overall application activity declined last week, despite lower rates,” MBA’s Vice President and Deputy Chief Economist Joel Kan said. The slowdown in housing activity and higher mortgage…