Mortgage

According to the Redfin report, the rise in mortgage rates of around 7% is the highest since July 2007, shortly before the crash that triggered the Great Recession.

Typical mortgage payment soared $337 in just six weeks as interest rates nearly hit 7%

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The average American homeowner saw their monthly mortgage payment increase by 15% or $337, according to a shocking new report from Redfin. The report goes on to say that the mortgage rate hike of around 7% is the highest since July 2007, shortly before the crash that triggered the Great Recession. This causes potential buyers …

Typical mortgage payment soared $337 in just six weeks as interest rates nearly hit 7% Read More »

According to the Redfin report, the rise in mortgage rates of around 7% is the highest since July 2007, shortly before the crash that triggered the Great Recession.

Typical mortgage payment soared $337 in just six weeks as interest rates nearly hit 7%

Leave a Comment / Business / By

The average American homeowner saw their monthly mortgage payment increase by 15% or $337, according to a shocking new report from Redfin. The report goes on to say that the mortgage rate hike of around 7% is the highest since July 2007, shortly before the crash that triggered the Great Recession. This causes potential buyers …

Typical mortgage payment soared $337 in just six weeks as interest rates nearly hit 7% Read More »

With mortgage rates above 6%, here's what the latest Fed hike could mean

With mortgage rates above 6%, here’s what the latest Fed hike could mean

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It’s bad enough that Southern California home prices remain high despite cooling demand, averaging nearly seven times the state’s median income for a family of four. Worse still, the rapid rise in mortgage interest rates. The rate on a 30-year fixed-rate mortgage has doubled in nine months, topping 6% last week for the first time …

With mortgage rates above 6%, here’s what the latest Fed hike could mean Read More »

Across Minnesota, rising mortgage rates weigh on home sales and listings

Across Minnesota, rising mortgage rates weigh on home sales and listings

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The doubling of mortgage rates over the past year is beginning to weigh on home sales across Minnesota. This week, mortgage rates rose above 6% for the first time in 14 years, as lenders continue to price in expected hikes in the main rate set by the Federal Reserve. A new report from Minneapolis-area real …

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Mortgage rates exceed 6% for the first time since 2008

Mortgage rates exceed 6% for the first time since 2008

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Mortgage rates topped 6% for the first time in 14 years as inflation so far resisted efforts by the Federal Reserve to rein it in. The spectacularly rapid escalation chilled what had been a boiling US housing market, increasing pressure on an economy plagued by relentless inflation. According to the latest data published Thursday by …

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