Mortgage Rates Hit 7.31% – a 23-Year High
Last week, a 30-year, fixed-rate loan averaged 7.19%; a year ago, it was 6.70%. The last time rates were this high was in 2000 when home values weren’t going up.
NAR: Pending Sales Fell 7.1% in Aug.
NAR Chief Economist Yun says “increased housing inventory and better interest rates are essential” for a real estate market rebound.
Fla.-Run Citizens Policy Count Could Decrease
The “insurer of last resort” lowered its end-of-year policy-count forecast to 1.3M as more private insurers offer coverage. Earlier estimates called for up to 1.7M.
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