Despite the relative stability of mortgage rates last week, the home buying landscape appears increasingly bleak as prospective buyers hold back amid growing economic anxieties. Applications for new home mortgages saw a significant drop of 4% compared to the previous week, according to the Mortgage Bankers Association. Strikingly, this decline comes despite the fact that
Real Estate
The European real estate market is experiencing a remarkable resurgence, showcasing a 25% year-on-year growth in investment volumes. The recent report from CBRE paints an optimistic picture: the first quarter of 2025 saw an influx of 45 billion euros (approximately $51 billion), a rise attributed to enhancing macroeconomic sentiments and the favorable impact of declining
The current state of the housing market is alarming. March saw a startling 5.9% drop in previously owned home sales from February, marking a total of 4.02 million units sold on a seasonally adjusted basis. This is particularly troubling as it represents the slowest sales pace for March since 2009, a year that many would
While markets were tumbling dramatically, as evidenced by the staggering falls in the Dow Jones Industrial Average, a striking juxtaposition emerged in Manhattan’s real estate landscape: the announcement of a $110 million penthouse that has quickly grabbed attention as the city’s most extravagant listing. This revelation, amidst one of Wall Street’s most tumultuous weeks marked
In a striking turn of events, mortgage rates have surged to their highest levels since February, marking a decisive shift in the housing market landscape. The latest data from the Mortgage Bankers Association reflects an 8.5% decline in total mortgage application volume over just one week. This alarming dip reveals that potential homebuyers are increasingly
In an unexpected turn of events, fluctuations within the financial markets led to a notable decrease in mortgage interest rates last week, lighting a fire under mortgage demand. According to the Mortgage Bankers Association, total mortgage application volume soared by 20%, marking a significant rebound and reaching its pinnacle since September 2024. This spike is
Mortgage rates have witnessed a bewildering rise recently, hitting an unsettling 7.1%, a significant jump indicative of the chaotic dynamics of the bond market. The connection between mortgage rates and the yield on the 10-year Treasury is profoundly relevant; as investors witness fluctuations, mortgage rates move. Illustratively, the week began with a dramatic spike, triggered
Mortgage rates have recently experienced a dramatic surge, reaching 6.85% for the 30-year fixed-rate mortgage this week. This increase comes after a brief respite that saw rates dip slightly, bringing temporary optimism to the housing market. As inflationary pressures and economic uncertainties continue to affect both consumers and investors, the volatility witnessed in the mortgage
Last Thursday marked a significant turning point in the U.S. housing landscape as mortgage rates took a sudden nosedive—plummeting a noteworthy 12 basis points to an average of 6.63% for the popular 30-year fixed loan, according to Mortgage News Daily. This rate drop represents the most favorable conditions since last October. The decline was precipitated
Manhattan’s real estate market is embracing a remarkable revival, evidenced by a staggering 29% increase in apartment sales during the first quarter compared to the previous year. This influx, which culminated in 2,560 closed sales—up from 1,988—signals a strong pivot towards real estate as a safe haven in a jittery economy, especially among the ultra-wealthy.