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High mortgage rates recall an era of ... high mortgage rates

Aug 18, 2023
The highest mortgage rates in 20 years are now coupled with high home prices — bringing angst to many homebuyers.
The last time mortgage rates were this high was the early 2000s. Even then, those rates were low compared to the 1980s.
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Homeowners are gaining equity, but it may be going untapped

Jul 31, 2023
A new report finds the rate of mortgage borrowers considered "equity rich" increased to 49% in the second quarter.
"Why would you refinance if you've got a mortgage of 3%, at a mortgage rate of 7%?" says Susan Wachter of the Wharton School.
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High mortgage rates, high demand, high home prices

Jun 28, 2023
The Case-Shiller National Home Price Index rose half a percent in April — a third-straight monthly increase.
The spike in mortgage rates has encouraged a lot of would-be sellers to stay put, putting a further squeeze on the housing market.
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Has the housing market landed ... softly?

Jun 27, 2023
New Case-Shiller data suggests prices are rebounding after a moderate dip, though regional differences are pronounced.
While pricier areas on the West Coast have slowed down considerably, the housing market is still running hot for cities in the Southeast.
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When moving means a higher mortgage rate, why sell?

Jun 22, 2023
Last month, 20% fewer existing homes were sold than in May 2022. People are staying put — and staying together — to avoid higher costs.
Lots of people are choosing to stay put in their homes even if they’d like to sell.
Justin Sullivan/Getty Images

In a tight housing market, both buyers and sellers are getting creative

Jun 22, 2023
Realtors are encouraging their clients to get creative if they really want to make a move while interest rates remain high and inventory remains low.
Some homeowners with a low interest mortgage rate locked in are offering to sell that loan along with their house.
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Black homeownership climbed early in the pandemic. Is progress stalling?

Jun 19, 2023
Higher mortgage rates could disproportionately hurt Black homebuyers.
Historically low mortgage rates lifted homeownership across racial and ethnic groups. But those rates have more than doubled since 2021.
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For public good, not for profit.

Mortgage demand is up, but lenders are more cautious

Jun 14, 2023
Mortgage applications rose last week, thanks in part to a dip in mortgage rates, according to a new report. But credit availability has been falling.
Mortgage demand and mortgage supply are moving in different directions.
Joe Raedle/Getty Images

There are now only 4 major U.S. cities where buying is cheaper than renting

May 25, 2023
That's good news if you're looking to buy in Philadelphia, Detroit, Cleveland or Houston, but what about the rest of us?
Even if monthly mortgage payments are higher than comparable rent, "you get the benefit of building up wealth," said Daryl Fairweather, chief economist at Redfin.
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