Borrowing costs rose sharply in the latest Freddie Mac reading, while Realtor.com said price cuts and weaker sales showed further cooling in September.
Mortgage and refinance costs kept rising as investors dumped bonds and Treasury yields moved sharply higher, squeezing affordability for buyers and homeowners.
Residents say the boiler went down again, while the landlord says the hot water outage was fixed and major repair work is underway.
A Portage County homeowner has fought to stay in a $4.5 million mansion since foreclosure began in 2011, but a magistrate has now approved eviction.
Economists say the nation’s housing slump looks more like an affordability squeeze than a collapse, with tighter lending, solid jobs and limited supply still propping up prices.
Freddie Mac said borrowing costs climbed again this week, widening the affordability squeeze and nudging some home shoppers toward riskier ARMs.
Realtor.com says price cuts hit a September record for this cycle as inventory rose and pending sales weakened across the country.
Borrowing costs are rising again just as home prices stay elevated, leaving many households with tighter monthly budgets and fewer affordable options.
After helping Nancy Rodriguez pack and move, Darci Harman was surprised with a Cash for Kindness award as she and her husband prepare for their own relocation.
A new five-year outlook suggests mortgage costs may ease gradually, but not return to the ultra-low levels seen during the pandemic era.