Note & Real Estate News

Published: Wed, 10/12/22

Hi ,

According to data from Freddie Mac, the 30-year fixed mortgage rate jumped by 0.41 percent at the end of September. A year ago, the rate was at 3.01 percent—the highest it has been since July 2007, when the subprime mortgage crisis was in its early stages.

While the federal reserve recently hiked interest rates between three and 3.25 percent—the highest since 2008—the mortgage rate is not directly tied to the Fed but rather the ten-year U.S. Treasury bond yield.

Read more in the top story in our Note & Real Estate News section below.

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W. J. Mencarow
President, The Paper Source 🔸 Where The Note Industry Meets

Note & Real Estate News

Mortgage Rates Surge to 6.7% — More than Double Since Last Year

The rise in mortgage interest rates comes at a time when the U.S. housing market is already slowing down.

Rising Rents Are Squeezing Older Adults

Rents in America have risen 14%, overall, since June 2021, going up much more than wages. And they’re now 28% higher than in 2019.

U.S. Home Prices Fall For First Time Since 2012

The 2.3 percent difference between the June and July monthly rates of gain is the largest deceleration in the history of the S&P CoreLogic Case-Shiller Index.

Construction Spending Falls For Third Straight Month

Construction spending in the U.S. fell in August for the third straight month as the housing market dips deeper into a recession.

Supply Chain Issues Plaguing Lumber Distributors, Home Improvement Companies

One lumber distributor is paying over six times as much for plywood compared to three years ago.

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