But a new study shows that 5.5% may be the magic mortgage rate that gets things moving in the market, according to analysis from John Burns Research and Consulting, which specializes in the housing industry. Mortgage rates more than doubled over the past year, reaching as high as 7.08% in November, according to Freddie Mac’s average weekly mortgage rate for a 30-year fixed rate loan. Since then the rate has declined by almost a full point, and currently sits at 6.27%.
5%, have been achieving the most success,” CEO John Burns and Maegan Sherlock, a senior research analyst, wrote in an note about the findings. “Many of the largest builders in the country have been buying mortgage rates down below 5%.” They report that low inventory in the existing home market is helping new builders tremendously.
Lol
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Netflix is winding down its DVD business after 25 years | CNN BusinessNetflix is officially winding down the DVD business that helped make it a household name CNN is fake news... You people are non-essential. They are still doing this? I had no idea they were still doing this.
Source: CNN - 🏆 4. / 95 Read more »
Settlement in the Fox-Dominion defamation case has been reached, judge says | CNN BusinessThe judge just announced in court that a settlement has been reached in the historic defamation case between Fox News and Dominion Voting Systems. noooo...I want to see Hannity and Tucker on the stand... How much has cnn paid over the past couple of yrs? The election was a fraud and sham just like Covid
Source: CNN - 🏆 4. / 95 Read more »
Global corporate defaults highest since the pandemic in 2020 | CNN BusinessMore companies around the world defaulted on their debts in the first three months of this year than in any quarter since late 2020, when businesses were still hamstrung by restrictions to stop the spread of Covid. Way to go Joe Biden
Source: CNN - 🏆 4. / 95 Read more »
The Netflix password crackdown may finally be happening | CNN BusinessNetflix on Tuesday said it will move forward with a broad rollout of its paid account sharing option in the second quarter, after having delayed it during the prior quarter.
Source: CNN - 🏆 4. / 95 Read more »
FTC chair Lina Khan warns AI could 'turbocharge' fraud and scams | CNN BusinessArtificial intelligence tools such as ChatGPT could lead to a 'turbocharging' of consumer harms including fraud and scams, and the US government has substantial authority to crack down on AI-driven consumer harms under existing law, members of the Federal Trade Commission said Tuesday.
Source: CNN - 🏆 4. / 95 Read more »
Jobs are strong, inflation is cooling — yet recession worries remain | CNN BusinessThe post-pandemic US economy has tortured economists and defied expectations. Eggs $3.50/dz, lettuce $3 a head , gas over $4 , the torture is very real CNN employees are where the cheap resources are kept. Bwahaha
Source: CNN - 🏆 4. / 95 Read more »