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Housing Market

This last year has been tough for a lot of people, and it goes way beyond the pandemic, as we all know. Here are some things you can be grateful for, even in the middle of chaos.

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Mortgage rates have taken a nosedive this week following a better-than-expected monthly inflation reading. Nonetheless, elevated home prices, depressed buyer demand and low builder confidence indicate the housing market has a ways to go before it finds balance. The average 30-year, fixed-rate mortgage plummeted to 6.61% for the week ending November 17, from 7.08% last […]

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Mortgage rates have shot back over 7% to the identical record-high mark set in late October, keeping borrowers on the sidelines amid ongoing market fluctuations and recession fears. The average 30-year, fixed-rate mortgage rose to 7.08% for the week ending November 10, according to Freddie Mac. Mortgage rates have made a 13 basis-point jump from […]

Mortgage rates moved closer to 7% this week amidst a perfect storm of recession fears, stubborn inflation and the hint of more Federal Reserve interest rate hikes, further dampening housing market outlooks for at least the near future. The average 30-year, fixed-rate mortgage inched up to 6.94% the week ending Oct. 20, according to Freddie […]

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Mortgage rates surged close to 7% this week, breaking another record-high not seen in two decades as inflation pressures mount and home shoppers retreat even further from the housing market. The average 30-year, fixed-rate mortgage jumped to 6.92% the week ending Oct. 13, according to Freddie Mac. The most popular mortgage product jumped 26 basis […]

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No one believed that 2022 would be this bad. It’s strange that investors should have such a miserable time two years after the beginning of the Covid-19 pandemic, but we’re living in unusual times. Markets have tanked thanks to four-decade highs in inflation and the Federal Reserve’s hawkish response. No major asset class—stocks, bonds, real […]

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Rates for home loans jumped to their highest level in nearly 14 years this week as home buyers continue to pull out of the market, causing some sellers to reevaluate their price points. The 30-year, fixed-rate mortgage averaged 5.89% for the week ending September 8, up 23 basis points from 5.66% the previous week, according […]

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Q: The very competitive housing market is making it difficult for my daughter (and her partner) to win a bid for purchase. They have been pre-approved for a loan. I have ready cash. What would be the pros and cons of making a short-term loan, including tax implications, so that they can make a cash offer? And, what are the various ways we could go about it? Thank you for sharing your experience and expertise!

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