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Struggling US home buyers, and market, face new hurdles as mortgage rates near 7%

Struggling US home buyers, and market, face new hurdles as mortgage rates near 7%

Mortgage buyer Freddie Mac's latest snapshot of mortgage rates is due out later Thursday and expected to show that the average rate for a 30-year mortgage rose again this week, moving closer to 7%
ReutersReuters
US homebuilder sentiment drops to 12-month low in September

US homebuilder sentiment drops to 12-month low in September

WASHINGTON, Sept 16 (Reuters) - U.S. homebuilder sentiment dropped to a one-year low in September as rising mortgage rates dampen demand for housing, a survey showed on Wednesday.
ReutersReuters
US pending home sales unexpectedly rise in August, trend remains weak

US pending home sales unexpectedly rise in August, trend remains weak

WASHINGTON, Sept 17 (Reuters) - Contracts to purchase previously owned U.S. homes unexpectedly rose in August, but the gain is likely to be temporary as elevated mortgage rates continue to sideline some prospective buyers and weigh on housing demand.
TheStreetTheStreet
Zillow predicts major mortgage rate, housing market shift

Zillow predicts major mortgage rate, housing market shift

The real estate technology company forecasts a key change for homebuyers.
ReutersReuters
US labor market on solid footing; rising mortgages pressuring housing sector

US labor market on solid footing; rising mortgages pressuring housing sector

By Lucia Mutikani WASHINGTON, Sept 17 (Reuters) - The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, though the decline was likely exaggerated by the Labor Day holiday, with the underlying trend pointing to continued labor market stability.
ReutersReuters
US single-family housing starts rebound in August; building permits fall

US single-family housing starts rebound in August; building permits fall

WASHINGTON, Sept 17 (Reuters) - US single-family homebuilding increased in August, but a drop in permits for future construction suggested the improvement was likely temporary as rising inflation because of the war in the Middle East boosts mortgage rates.
Detroit Free PressDetroit Free Press
What the Fed's first rate hike in three years means for consumers

What the Fed's first rate hike in three years means for consumers

On Wednesday, Sept. 16, the Federal Reserve raised short term interest rates by a quarter of a percentage point. The vote was unanimous.
AP NewsAP News
Fed rate hike will likely push borrowing costs on credit cards, mortgages -- but benefit savers

Fed rate hike will likely push borrowing costs on credit cards, mortgages -- but benefit savers

The Federal Reserve just raised the cost of borrowing money — bad news for borrowers, good news for savers
ReutersReuters
What do higher rates mean for borrowers and savers?

What do higher rates mean for borrowers and savers?

By Lauren Young NEW YORK, Sept 16 (Reuters) - The U.S. Federal Reserve nudged interest rates higher by a quarter of a percentage point on Wednesday, the first rate hike in more than three years. So how will it impact your wallet?
AP NewsAP News
US futures climb after Fed takes a hawkish turn on inflation

US futures climb after Fed takes a hawkish turn on inflation

U.S. futures are climbing as Wall Street looks to rebound after closing lower following the Federal Reserve’s first interest rate hike in three years
ReutersReuters
High mortgage rates to keep US housing market revival elusive: Reuters poll

High mortgage rates to keep US housing market revival elusive: Reuters poll

By Sarupya Ganguly BENGALURU, Sept 15 (Reuters) - U.S. mortgage rates will stay higher than previously forecast and decline only modestly over coming quarters, a Reuters poll of property experts showed, keeping home price growth muted through next year.
ReutersReuters
Fed hikes rates, sees more tightening in search of 'timelier' drop in inflation

Fed hikes rates, sees more tightening in search of 'timelier' drop in inflation

By Howard Schneider WASHINGTON, Sept 16 (Reuters) - The Federal Reserve raised interest rates on Wednesday and flagged further increases in borrowing costs in coming months, with new U.S. central bank chief Kevin Warsh joining a unanimous decision that effectively acknowledges the Trump