Zillow

Scrolling Zillow has become a go-to activity for Americans stuck at home pondering real estate upgrades as low interest rates and a shortage of homes to buy fuel the pandemic housing market.

About 3.4 million renters believe themselves to be at risk of eviction, but when the moratorium ends, the actual number may be between 130,000 and 660,000, according to a Zillow report published Monday.

With the latest growth, interest rates spiked 37 basis points since the calendar flipped to 2021 alongside rising Treasury bond yields.

After several weeks of resistance, mortgage rates are now moving in lockstep with the recent increases in the 10-year Treasury yield.

With the most recent stimulus aiding economic recovery, mortgage lending’s feeding frenzy could be coming to an end.

The cost associated with borrowing money to finance homes now appears more likely to remain stable rather than continuing to decline, which should eventually slow refinance activity.

The growing popularity of the company’s websites and apps has earned the company record profits during the fourth quarter, with adjusted earnings before interest, taxes, depreciation and amortization of $170 million, according to a statement on Wednesday.

Whether or not the cost of home loans go up may hinge on the labor market recovery, and right now bond yields suggest they are heading in one particular direction long term.

Investors were also reacting to the inauguration of Joe Biden and uncertainty over additional fiscal relief, Freddie Mac’s Chief Economist Sam Khater said.

After last week’s spike, mortgage rates dropped back to near historic lows, as broader worries about the pandemic and the economy came back to the fore for investors.