May Sees Largest Monthly Slowdown In Home Price Growth Since 2006
As of May 19, the share of median income required to make the P&I payment had climbed to 33.7%, just shy of the 34.1% high reached in July 2006.
As of May 19, the share of median income required to make the P&I payment had climbed to 33.7%, just shy of the 34.1% high reached in July 2006.
Fixed mortgage rates have increased by more than 2 full percentage points since the beginning of the year.
Redfin says the pool of homebuyers is dwindling as mortgage rates reach a record high.
It's the first jump in rates in three weeks.
Housing market is normalizing as summer approaches.
Freddie Mac says survey shows 30-year fixed rate stands at 5.3%
Over two-thirds of respondents expect mortgage rates to go up in next 12 months
It may not be as destructive as 2008 due to some factors