The MBA reports that despite rates over the 6% mark and low for-sale inventory stunting overall sales, mortgage applications for new home purchases increased 0.6% in March compared to one year ago.
Read More »Mortgage Apps Rebound After Down Week
The MBA reports that overall mortgage application volume rose this week, jumping after a week of declines, as fixed-rates continued to slide toward the 6% mark.
Read More »Potential Home Sales Increase Before Spring Buying Frenzy
“The spring season is typically the busiest time of the year for the housing market,” said Mark Fleming, Chief Economist at First American.
Read More »Single-Family Permits Up Over 7% From January
“Single-family housing permits, a leading indicator of future starts, also increased 7.6% compared with the previous month. The uptick in single-family housing permits and starts aligns with the recent increase in homebuilder sentiment,” said First American Deputy Chief Economist Odeta Kushi.
Read More »Tumultuous 2022 May Lead to Stable 2023
Since the pandemic, the housing market has been tumultuous, to put it lightly. In a new blog post, First American Economist Ksenia Potapov discusses whether this year will follow the same course.
Read More »Nominal Interest Rate up 25pts
The Federal Open Market Committee moved to raise the nominal interest rate by 25 points to a range of 4.50-4.75% at the end of its February meeting.
Read More »Pending Home Sales Increase, Breaking a Six-Month Downturn
“This recent low point in home sales activity is likely over,” said Lawrence Yun, NAR’s Chief Economist. “Mortgage rates are the dominant factor driving home sales, and recent declines in rates are clearly helping to stabilize the market.”
Read More »Homebuying Power Up $16K in December
Housing market potential increased in November-December 2022 but remains lower than it was in December 2021.
Read More »2023 Housing Market Expectations
“The housing market will continue to rebalance as prices adjust to the reality of higher mortgage rates,” First American's Deputy Chief's Economist Odeta Kushi concluded.
Read More »Mortgage Rates May Experience Decline in Late 2023
According to Chief Economist Mark Fleming, if inflation decelerates toward the Fed’s target range in the second half of 2023, as is currently expected, it’s possible that mortgage rates may decline modestly in the latter half of the year.
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