Pending Home Sales Rise as Mortgage Rates Decline -- Market Talk

Dow Jones12-12

1059 ET - Mortgage applications and pending sales are rising as mortgage rates decline from the four-month high they hit in late November, Redfin says. Mortgage rates are declining after last week's cooler-than-expected jobs report made it clear the Fed will cut interest rates again this month. The average weekly rate is 6.69%, down from 6.84% two weeks earlier. That has pushed the typical U.S. homebuyer's monthly housing payment down to $2,527, its lowest level in more than two months. Mortgage-purchase applications are up nearly 20% from a month ago. Pending home sales rose 4.1% year over year during the four weeks ending Dec. 8. Buyers have accepted the fact that mortgage rates are likely to remain above 6% for the foreseeable future. (chris.wack@wsj.com)

(END) Dow Jones Newswires

December 12, 2024 10:59 ET (15:59 GMT)

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Mortgage-purchase applications are up nearly 20% from a month ago. Pending home sales rose 4.1% year over year during the four weeks ending Dec. 8. Buyers have accepted the fact that mortgage rates are likely to remain above 6% for the foreseeable future. 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Mortgage rates are declining after last week's ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RDFN","symbol_name":"Redfin Corp","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2491333970","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2491333970","pubTimestamp":1734019140,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1059 ET - Mortgage applications and pending sales are rising as mortgage rates decline from the four-month high they hit in late November, Redfin says. Mortgage rates are declining after last week's cooler-than-expected jobs report made it clear the Fed will cut interest rates again this month. The average weekly rate is 6.69%, down from 6.84% two weeks earlier. That has pushed the typical U.S. homebuyer's monthly housing payment down to $2,527, its lowest level in more than two months. Mortgage-purchase applications are up nearly 20% from a month ago. Pending home sales rose 4.1% year over year during the four weeks ending Dec. 8. Buyers have accepted the fact that mortgage rates are likely to remain above 6% for the foreseeable future. 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