Tag Archives: Mortgage Rate

“Even though the length of time Americans are staying in their homes has ticked down from the peak it reached in 2020, it’s likely to head back up again in the next few years,” said Redfin Senior Economist Sheharyar Bokhari.

According to Redfin’s most recent Housing Market Report, mortgage rates dropped from over 7% last week to 6.6% this week on better-than-expected inflation numbers.

With costs continuing to rise and buyers increasingly priced out of their local markets, a Redfin report examines how long houses are remaining up for sale before purchase as a result.

Affordability issues are officially taking a toll on the market as the average asking price of a newly listed home is off 1.5% from its peak in spring in light of the rapid rate increase by the Federal Reserve in June.  ...

While delinquencies have been on the decline, mortgage payments rise at a slower rate in 2019. What can servicers expect the monthly mortgage payment and rate to be going into 2020?