Homeowners eager to sell may have to wait a while before a buyer comes along. As of April, the U.S. housing market had nearly 34% more sellers than buyers shopping for a home, according to an analysis by Redfin.
The average rate on a 30-year mortgage in the U.S. rose this week to its highest level since early February, further pushing up borrowing costs for homebuyers.
The average rate on a 30-year mortgage in the U.S. climbed this week to its highest level since mid-February, a setback for home shoppers that threatens to slow sales further this spring homebuying season.
Sales of previously occupied U.S. homes fell in April, as elevated mortgage rates and rising prices discouraged prospective home shoppers during what’s traditionally the busiest time of the year for the housing market.
Stocks drifted to a mixed close on Wall Street, holding on to most of the gains they made earlier in the week after the U.S. and China declared a temporary cease-fire in their trade war.
The average rate on a 30-year mortgage in the U.S. held steady this week, not far from its highest levels this year, but below where it was a year ago.
Asian markets are higher after China's Commerce Ministry said Beijing is evaluating overtures from the U.S. regarding President Donald Trump’s tariffs.
Home ownership is receding further out of reach for most Americans as elevated mortgage rates and rising prices stretch the limits of what buyers can afford.
The average rate on a 30-year mortgage in the U.S. eased again this week, modest relief for prospective home shoppers during what’s traditionally the busiest time of the year for the housing market.