Housing

Housing market goes from bad to worse

The U.S. housing market is getting battered by rising interest rates and sky-high prices, as housing starts and builder confidence continue to decline.

Mortgage rates jump, reaching 5.23%

American homeowners continue to feel the pinch as the 30-year fixed-rate mortgage rate rose this week, averaging 5.23% as of Thursday. Rates hadn't exceeded 5% in over a decade.

New home sales plunge nearly 17% in April

The Census Bureau reported that the median sales price of new homes hit $450,600 last month. With interest rates now upward of 5%, the rising cost of homeownership is pricing more would-be buyers out of the market.

Mortgage rates cross 5%

The average rate for a 30-year fixed-rate mortgage is now at 5.11%, the highest level in 12 years.

Is the US already in a housing bubble?

As soaring home prices raise concerns that the U.S. is in a housing bubble, the question becomes: Will prices come down with a whimper or a crash?