The U.S. mortgage market has seen a recent uptick in interest rates, raising concerns that it may be having an outsized impact on new listings data. Last week saw a substantial dip in new listings, raising industry worries that the rising interest rates could have a more pronounced effect than normal.
At Jackson Hole last Friday, Federal Reserve chairman Jerome Powell gave a lengthy speech with some possible implications for the mortgage market, however it didn’t appear to have a noticeable impact on interest rates. Purchase applications data also saw another decrease last week, and hour mortgage rate survey also showed the major lenders actively raising rates over the past two weeks.
• Interest rates increased in recent weeks
• Last week saw a noticeable dip in new listings
• Federal Reserve spoke at Jackson Hole, no visible effect on mortgage rates
• Purchase applications data decreased in week
• Major lenders actively raising rates last two weeks
You can read this full article at: https://www.housingwire.com/articles/new-listings-take-a-hit-possibly-due-to-higher-mortgage-rates/(subscription required)
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