Mortgage rates dip slightly, but economic concerns grow
The 30-year mortgage rate averaged 6.39% this week, down from 6.43%, but the decline has not spurred an increase in mortgage applications.
May 4, 2023
Dave Gallagher
Director, News Reporting
Dave's journalism career spans 24 years covering business, the economy and real estate in Northwest Washington. He's also a numbers nerd, examining data to spot emerging trends in industries. Having started his career as a sports writer, he's a lifelong baseball and soccer fan and recently discovered pickleball. He grew up in Yosemite National Park and earned his journalism degree at Humboldt State University in northern California.
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- Zillow improved revenue, reduced losses despite annual declinesThe Seattle-based company beat analyst expectations for the first quarter and is entering a crucial period as it unveils new products.May 3, 2023
- The Fed sticks to its plan, bumps rate by 25 pointsAs many analysts had predicted, the Federal Reserve raised the benchmark interest rate for the 10th consecutive time since March.May 3, 2023
- Utah, New Mexico MLSs partner to share data and servicesMembers of UtahRealEstate.com and New Mexico MLS will be able to see listings across the coverage areas in both states.May 3, 2023
- Home prices up modestly, with bigger gains in the forecastCoreLogic’s home price report for March found that prices in the U.S. increased 3.1% annually, though gains (and losses) varied across the country.May 2, 2023
- Mortgage fee changes raise costs for some, lower costs for othersThe new mortgage fee structure is an attempt by the FHFA to create "equitable and sustainable access to homeownership."May 1, 2023
- More buyers believe they can find an affordable homeA new trends survey found that while most buyers still have trouble finding homes that fit their budget, more are optimistic about their chances.April 28, 2023
- Mortgage rates up for a second week, but may top out soonThe average 30-year mortgage was up slightly this week, but cooling inflation is a sign that the market is stabilizing, which should prompt declines.April 27, 2023
- Cash offers are up, profits are down — but some metros are thrivingWhile these trends can bring challenges, understanding local market dynamics can help buyers and sellers be more competitive.April 27, 2023
- CoStar beats expectations, increases revenue by 13%The company cited increased traffic to its portal websites, including Homes.com, as one reason for its growth.April 25, 2023
- Southeast continues to buck national price-growth trendsThe Case-Shiller data for March showed continuing annual declines in home prices, with stark regional differences.April 25, 2023
- Redfin closes the door on fully remote workCEO Glenn Kelman said working from home isn’t working out for Redfin, which will require HQ employees to spend at least two days a week in the office.April 24, 2023
- Buckle up: More buyers may be on the wayA new survey from the National Association of Home Builders found a significant increase in the number of adults who plan on buying a home this year.April 24, 2023
- The search for LGBTQ-friendly agents just got easierThe LGBTQ+ Real Estate Alliance recently launched a consumer site that helps potential clients find an agent who understands their needs and challenges.April 23, 2023
- Young buyers are embracing homeownershipA new report found that in 2022, 30% of Gen Z Americans owned a home at age 25, making them a prime source of buyer (and seller) leads.April 22, 2023
- Homebuying is tough in the U.S. — Canada can relateOur neighbors to the north are also grappling with high prices and low inventory, but "sanity is slowly returning to the housing market."April 21, 2023
- Mortgage interest rates jump, ending 5 weeks of declinesShifting market expectations have 30-year mortgage rates on the rise again, hitting 6.39% this week.April 20, 2023
- Compass gaining new teams after high-profile departuresAs the market slowed down, some top teams left Compass for greener pastures, but the company continues to grow its agent count and woo new and former teams.April 19, 2023
- Homeownership builds wealth, but not all groups benefit equallyA recent NAR report found that while homeowners have generated significant wealth via appreciation, gains were uneven across income levels and ethnic groups.April 18, 2023
- Sellers are feeling confident this springEven as the market has slowed, sellers are optimistic that they can get a good deal on their sale.April 17, 2023
