The median monthly mortgage payment is just $25 shy of its record high, sidelining would-be buyers. But the tide is turning for buyers: Redfin economists expect home prices to decline by the end of the year, and a surplus of listings is motivating sellers to negotiate.| Redfin Real Estate News
With mortgage rates expected to climb even higher, lenders are cutting closing costs and launching new programs to court buyers.| HousingWire
With new listings rising and pending sales declining, Redfin agents suggest sellers set their asking price fairly from the start to attract buyers and avoid price drops.| Redfin Real Estate News
From metro areas on both coasts to the middle of the Pacific Ocean, these are the most expensive cities to live in the U.S.| Kiplinger
The median monthly mortgage payment fell to a seven-month low of $2,631 during the four weeks ending August 10, down more than $200 from its May peak of $2,846. Last week marked the 12th consecutive week that monthly payments either dropped or stayed flat.| Redfin Real Estate News
Pending home sales and mortgage applications improved a bit at the start of April. But since then, the back-and-forth on President Trump’s new tariff policy, rising mortgage rates and the increased odds of a recession have likely pushed down homebuying sentiment.| Redfin Real Estate News
The median U.S. home price rose 5.2% year over year this week, and mortgage rates hit their highest level since November 2023. Prices continue to rise partly because there are still serious buyers searching for homes.| Redfin Real Estate News
Slowing price growth is good news for homebuyers. So are shrinking housing payments, with the median U.S. mortgage payment falling to its lowest level in five months.| Redfin Real Estate News
Soaring housing payments are keeping many homebuyers on the sidelines, but new listings are ticking up and there are signs some house hunters are emerging as we enter spring.| Redfin Real Estate News
The daily average mortgage rate dipped to 6.67% to start July, down from roughly 7.1% five weeks earlier. On-the-fence house hunters should consider jumping in while they have more purchasing power.| Redfin Real Estate News
While the median home-sale price is sitting at a record high, it’s notably lower than the median asking price. That’s because sellers are open to negotiating in today’s cooling housing market, in which sellers outnumber buyers.| Redfin Real Estate News
New listings have hit their lowest level of any early June on record, limiting home sales and keeping prices afloat.| Redfin Real Estate News
Would-be buyers are sidelined by record-high housing costs and economic instability, allowing inventory to pile up.| Redfin Real Estate News
U.S. home prices are growing half as fast as they were at the end of last year.| Redfin Real Estate News
The Court of International Trade has ruled that the White House cannot use the International Emergency Economic Powers Act to broadly implement tariffs. Mortgage rates are unlikely to move much in the near future because the administration has other options to implement tariffs. If most, or all, of the tariffs were called off, however, mortgage rates would likely fall.| Redfin Real Estate News
Home prices are now 47% higher than they were in early 2020, with the median sale price now five times the median household income.| CNBC
A much stronger-than-expected September jobs report will push mortgage rates up significantly today. Debate about Federal Reserve rate cuts will now shift from choosing between a pace of 25 bps or 50 bps cuts each meeting, to choosing between 25 bps each meeting or 25 bps every other meeting. Ultimately, the answer will be determined by data in upcoming months, clarifying how weak the labor market is.| Redfin Real Estate News
The March inflation report came in hotter than expected, which means the Fed is highly unlikely to cut interest rates in June–and could mean the Fed only cuts rates once this year. The news is already pushing up mortgage rates.| Redfin Real Estate News
Homebuyers on a $3,000 monthly budget have gained over $20,000 in purchasing power since mortgage rates peaked in the spring.| Redfin Real Estate News
Pending home sales posted their biggest decline since February during the four weeks ending June 30. The good news for prospective buyers: There are more new listings to choose from, and monthly housing payments are down nearly $100 from their April peak as mortgage rates decline.| Redfin Real Estate News
The median U.S. home price rose 5.2% year over year this week, and mortgage rates hit their highest level since November 2023. Prices continue to rise partly because there are still serious buyers searching for homes.| Redfin Real Estate News
View today's current mortgage rates with our national average index, calculated daily to bring you the most accurate data when purchasing or refinancing your home. Follow our daily market analysis with Mortgage Rate Watch and we'll tell you where and why rates are moving.| Mortgage News Daily
Find average mortgage rates for the 30 year fixed rate mortgage from Mortgage News Daily.| Mortgage News Daily