Housing Payments On A 5-Week Decline
Redfin's study shows monthly mortgage payments dropping $164 from peak.
Redfin's study shows monthly mortgage payments dropping $164 from peak.
The 30-year fixed mortgage rate averaged 6.71% this week.
Redfin says inventory is down nearly 20% YOY, but homes for sale are flying off the market.
Rates climb closer to 7%; reach level not seen since November.
Both refis and purchase loans rose; MBA also revises data for previous seven weeks.
The 30-year fixed mortgage increases to 6.5%, highest since November 2022.
Analysis by The Urban Institute finds growth was driven by young, high-earning, highly educated borrowers.
Volume decreased 13.3% in MBA weekly survey, the third decline in four weeks.
Easing mortgage rates bringing buyers back, but don't expect the fervor of recent years.