This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact The Epoch Times Reprints.
Despite lower mortgage rates, homebuyer interest and refinancing activity fell sharply last week.
The minister said courts will be resourced to enforce the ban. It comes after he warned young people who can’t access housing may turn to authoritarian leaders.
Mortgages have become more affordable in recent months, but they are still more expensive than in all of 2022.
The decline in sales happened as mortgage rates rose and made homes more expensive for buyers.
California dominates the list of least affordable metros, with Midwest cities ranking among the most affordable.
Home sales have fallen as mortgage rates have more than doubled over the past two years.
It is unlikely for sales results to change for the better through the remainder of 2023, but surveyors hope for a ’more stable outlook' in 2024.
Understanding the forces driving the perfect storm in the real estate market.
The interest rate on a 30-year fixed-rate mortgage has more than doubled from 3.09 percent to 7.76 percent in just two years.
Mortgage rates have touched 8 percent, putting a damper on loan demand and adding to many homebuyers’ affordability woes.
Homebuyers now have to shell out close to a third of their income on mortgage payments.
