WASHINGTON — High mortgage rates and rising prices continued to put a damper on the spring homebuying season last month.
The median price of previously occupied homes rose 5.7% to $407,600 — the tenth straight increase and a record for April. The rate on the benchmark 30-year, fixed-rate loan has risen five of the last six weeks and stands at 7.02%, up from 6.39% a year ago. Would-be homebuyers are also deterred by the high prices, caused partly by a tight inventory of available homes.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. existing home sales drop 1.9% in April, pushed lower by high rates and high pricesWASHINGTON (AP) — High mortgage rates and rising prices continued to put a damper on the spring homebuying season last month. Existing home sales fell 1.9% to a seasonally adjusted annual rate of 4.14 million in April from a revised 4.
Source: timescolonist - 🏆 15. / 75 Read more »
U.S. existing home sales drop 1.9% in April, pushed lower by high rates and high pricesWASHINGTON (AP) — High mortgage rates and rising prices continued to put a damper on the spring homebuying season last month. Existing home sales fell 1.9% to a seasonally adjusted annual rate of 4.14 million in April from a revised 4.
Source: SooToday - 🏆 8. / 85 Read more »
U.S. existing home sales drop 1.9% in April, pushed lower by high rates and high pricesWASHINGTON (AP) — Sales of previously occupied U.S. homes sank last month, pushed down by high mortgage rates and rising prices. Existing home sales fell 1.9...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »