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0.000104395030796439 -0.000156592546194896 2.08790061592878E-05 0.00121098235723976 0.00311869715001564 0.00440547029961365 0.0026933917945505 0.00103351080488558
Stock impact report

Mortgage rates are dropping, but homes aren't expected to get cheaper—here's why [CNBC]

Goldman Sachs Group, Inc. (The) (GS) 
Last goldman sachs group, inc. (the) earnings: 4/15 07:30 am Check Earnings Report
US:NYSE Investor Relations: goldmansachs.com/investor-relations
Company Research Source: CNBC
The average 30-year fixed mortgage rate dropped to 6.2% as of Thursday , down from a peak of 7.79% in May. For many buyers, that means saving hundreds on mortgage payments. But those savings are bringing buyers back into the market. Existing home sales increased 1.3% in July, after five months of declines , per National Association of Realtors data. With more buyers competing for a limited number of homes, prices are likely to rise. Why lower mortgage rates could lead to higher home prices While lower mortgage rates help out buyers, the larger force at play in the housing market is supply. A longstanding lack of homes — at least 4 million, according to NAR's most recent estimate — means the supply of homes can't keep up wi Read more
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