GgoogleUS first seen 17 d ago, last 3 d ago, peak #1
Mortgage rates surge as homebuyers pull back
Original: mortgage rates
US mortgage rates are climbing again, triggering a fresh shock across the housing market. Refinance demand has fallen to roughly half its level a year ago, while homebuyers are canceling sales at near-record rates. Existing-home sales edged up just before the latest rate spike, and buyers in states like Massachusetts face sharply higher monthly payments as affordability deteriorates further.
Why now: Rapidly rising mortgage rates are hitting affordability and shaking up housing decisions at a sensitive moment for the market.
US housing marketmortgage lendersFederal ReserveMassachusettshomebuyers
Evidence
- Why Americans have stopped buying new homes · The Economist
- Homebuyers are canceling sales at near-record rates · Yahoo Finance
- US Existing-Home Sales Edged Up Ahead of Mortgage-Rate Shock · Bloomberg.com
- Refinance demand is now half what it was a year ago, as mortgage rates rise again · CNBC
- Mortgage rates are soaring, another blow to Mass. housing affordability as buyers face higher monthly payments · The Boston Globe
Elsewhere
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