California had a relatively lackluster month for home sales in October as rising rates during August and September weighed on home buyers and further depressed housing inventory. This contrasts with relatively strong economic data for October where job growth re-accelerated and unemployment remained below 5%. However, there are signs ...

The 30-year fixed-rate mortgage averaged 7.44%, down again from last week’s average of 7.5%, according to the latest Primary Mortgage Market Survey® (PMMS®) from Freddie Mac released yesterday. 

This week’s numbers:

• 30-year fixed-rate mortgage averaged 7.44% as of November 16, 2023, down from ...

Recently updated guidance shows that consumers should prepare for interest rates to remain elevated for longer than initially anticipated as the economy, and labor markets in particular, continue to outperform expectations and keep inflation above the target range. Homebuying demand, though still grappling with reduced affordability as rates remain ...

Home sales in California had another soft month in August as interest rates surged to the highest level in 22 years late last month before calming down slightly in the past two weeks. Home prices continue to recover, nevertheless, with the California median price gaining year-over-year for the second ...