Borrowers are back: Mortgage applications rise
For months, mortgage rates rose with no end in sight, and potential homebuyers backed off. Now the reverse is happening. The average rate for 30-year fixed-rate mortgages fell for the second week in a row to 6.67 percent, according to the Mortgage Bankers Association. It is now down almost 50 basi
Rising mortgage rates could take 20% bite out of home prices
A report from the Federal Reserve Bank of Dallas is adding to the chorus of those predicting a big downturn in home prices. Home prices in the country could fall 15 to 20 percent in a “pessimistic” scenario, according to the report published Tuesday. If that correction happens, it could remove 0.5
US home prices falling 15% looks “conservative”: KPMG
An economist is predicting home prices could decline much more than anticipated as the housing bubble begins to pop. A 15 percent drop in home prices for next year is “very conservative,” KPMG chief economist Diane Swonk told Fortune. Swonk’s forecast comes as the market’s correction from the pand
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