GoKawiil
Tech News
ResiClub's latest tracking of major U.S. housing markets finds 66 metro areas now registering year-over-year or month-over-month price declines. The report ties the broader softening trend to a recent rise in long-term bond yields and mortgage rates, which has coincided with an acceleration in price weakness nationally.
Real estate agents report that American home sellers are increasingly lowering asking prices and covering thousands of dollars in buyer costs as the housing market stagnates. Many sellers who can afford to wait are pulling listings off the market entirely, while others face pressure to sweeten deals due to high mortgage rates and years of price increases. First American Financial's chief economist Mark Fleming says the market has shifted toward favoring buyers after years of seller-friendly conditions.
A widely tracked measure of U.S. home-buying activity dropped sharply in September, falling to its lowest level in more than two decades. Analysts cited elevated mortgage rates as the main factor keeping prospective buyers out of the market.
The average rate on a 30-year U.S. mortgage climbed for a seventh consecutive week, pushing it to its highest level since November 16, 2023. The increase continues a sustained upward trend in borrowing costs for home buyers.
The average rate on a 30-year fixed U.S. mortgage rose this week to 7.28%, marking its sixth straight weekly increase and the highest level in nearly three years. The rise continues a steady upward trend in borrowing costs for homebuyers.
Jim Cramer said on CNBC's Mad Money that slowing activity in housing, IPOs and M&A is freezing out gains across several market sectors. He cited mortgage rates near 7.5%, 52-week lows for Home Depot, Lowe's and Whirlpool, and postponed IPOs from Oura and Inspire Brands as evidence, along with roughly 12% September declines in Morgan Stanley and Goldman Sachs shares.
ResiClub's latest analysis finds 54 major housing markets across the U.S. still showing year-over-year home price drops, though that count has fallen from a year earlier. The report questions whether a recent rise in mortgage rates could halt or reverse this cooling trend.
Bitcoin has surged to price levels not seen since January, extending a recent recovery across cryptocurrency markets after a difficult 2026. The rally follows months of subdued prices and comes alongside broader moves in interest rates and Treasury yields.
The Federal Open Market Committee voted unanimously to raise interest rates by a quarter point, marking the Fed's first increase since July 2023 and pushing its benchmark rate to a range of 3.75 to 4 percent. Chair Kevin Warsh cited persistently high inflation as the reason for the move. The change will ripple differently across consumer debt, from mortgages to car loans to credit cards.