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By Staff Reporters
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Want to know why there are seemingly no houses for sale in the US these days? These numbers should help explain:
The average rate on a 30-year mortgage climbed to 6.81% last week, its highest level of 2023, according to Freddie Mac. At the same time, almost 92% of US homeowners with mortgages have an interest rate of less than 6%, Redfin reported.
So, not many current homeowners are willing to ditch their lower mortgage rates for the higher one that would come with a new house.
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- Markets: As Wall Street heads into another earnings season this week, no one has much of a clue where stocks will go from here. Bloomberg notes there’s a whopping 50% difference between the most bullish analyst forecast for the S&P 500 for the rest of 2023 and the most bearish.
CITE: https://www.r2library.com/Resource
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Filed under: Alternative Investments, Experts Invited, LifeStyle | Tagged: Bloomberg, Freddie Mac, home sales, house sales, ral estate, Redfin, S&P 500 | Leave a comment »
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