Rising mortgage rates have slowed the housing market across the nation and Southern California. Sales are down, inventory is rising and many prospective buyers and sellers have a simple question: Will home prices fall? According to some analysts, the prospect is growing more likely as the slowdown deepens, with some now adjusting their forecasts to
Housing: ‘We’re at a tipping point’ for home prices, economist says Gabriella Cruz-Martinez Personal finance writer June 29, 202 Higher mortgage rates are finally carving out early signs of a cooling housing market. According to the latest S&P CoreLogic Case-Shiller report, U.S. home values increased 20.4% in April, down from the prior month’s revised climb of
According to CNBC last week, Demand for big mortgages is shrinking as home prices moderate and expensive houses linger on the market. Mortgage applications to purchase a home fell 4% for the week and were 18% lower than the same week one year ago. The average contract interest rate for 30-year fixed mortgages with conforming
