Sarah Wolak

The gain was down from 20.6% in April.

Black Knight’s First Look report for June said that these levels still remain below pre-pandemic levels.

With waning affordability and rising mortgage rates purging the market, both LendingTree and First American saw a recent uptick in adjustable rate mortgages.

Report says homes are taking longer to sell, as few are being listed and even fewer are selling.

As of July 21, the 30-year, fixed-rate mortgage averaged 5.54% with an average 0.8 point.

Fannie Mae’s Economic and Strategic Research Group forecasts real GDP will increase 0.1% in 2022 and decrease 0.4% in 2023.

As the market adjusts to a post-pandemic norm with higher mortgage rates, housing market potential will subside from recent highs, according to First American.

The MBA’s Market Composite Index decreased 6.3% on a seasonally adjusted basis from last week’s data.

Down Payment Resource found that the number of homebuyer assistance programs increased nearly 2% in the second quarter.

Popular migration areas such as Phoenix, Atlanta, Tampa, and Miami have the highest inflation rates in the country.