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☆ Housing-market activity stalls in January amid uncertain rate outlook
▼ + stars: | 2024-02-16 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . After showing stronger signs of life in recent months, activity in the US housing market shifted back to low gear in January. The culprit behind the slowdown has been more subdued expectations for rate cuts by the Federal Reserve, which has, in turn, kept mortgage rates high. The 30-year fixed mortgage rate rose to 6.87% last week, an uptick after a period of steady declines.

Persons: —, Hal Bennett, Bennett Organizations: Service, Federal Reserve, Investors Locations: Bellevue , WA

☆ The housing market is loosening up as mortgage rates sink, but 'window of opportunity could be narrow'
▼ + stars: | 2023-11-09 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The housing market is loosening up as supply climbs and home prices drop, Redfin said. "I'm advising buyers to lock in a mortgage rate as soon as they drop to a number where they can make the math work." AdvertisementAdvertisementThe housing market is loosening up as mortgage rates have tumbled, but it doesn't necessarily guarantee lasting relief for buyers, Redfin said. In the last week, the 30-year fixed mortgage rate notched its biggest weekly drop in over a year, sliding from 7.86% to 7.61%. Though mortgage rates are still near 23-year highs, these adjustments are enough to trim a few hundred dollars of a monthly payment, Redfin said.

Persons: Redfin, —, Hal Bennett, homebuyers, Lisa Cook Organizations: Service, Federal Reserve

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