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The median monthly payment on a new mortgage is up more than 40% over last year.
Mortgage rates are rising, but deposit rates will lag, says Laurie Stewart, president of Sound Community Bank in Seattle.
Mortgage rates, for example, probably already have the Fed hikes built in.
Vivian Gueler of Pacific Trust Group said rising rates are slowing the housing market, but it could be months before prices fall.
Getting demand to soften is the point because that’s expected to help tame inflation.
It’s not the most timely home price indicator, but it does have advantages, including mapping prices over long periods.
Demand for vacation homes has crowded out would-be homeowners, but will higher fees make a dent?
A new investigation finds that people of color are more likely to have their mortgage applications rejected than comparable white applicants.
Are borrowers and lenders taking on too much risk?
But the recovery has been unequal. Black homeowners are at a higher risk of foreclosure when forbearance rules expire, one nonprofit says.