Government

"In the current supply-constrained housing market, any changes to the fundamentals of affordability are going to affect demand, and we saw this in the fourth quarter with interest rates peaking near 8% and helping further slow home price growth," said Doug Duncan, Fannie Mae SVP and Chief Economist.

“From coast to coast and nearly everywhere in between, Community Development Block Grant funds build roads and sewers, rehabilitate homes, support nonprofit organizations and small businesses, and help communities prepare for and recover from weather-related disasters,” said HUD Secretary Marcia L. Fudge. 

Citing personal reasons, Tracy Kasper has informed the leadership team of the National Association of Realtors that she is stepping aside, to be replaced immediately by President-Elect Kevin Sears.

“Credit availability declined in December to the lowest level since 2012, as ongoing industry consolidation is resulting in more loan programs being removed from the marketplace,” said Joel Kan, MBA’s VP and Deputy Chief Economist.

The unemployment rate nationwide held at 3.7% in December, with the number of unemployed persons remaining at 6.3 million as residential building employment surpassed pre-pandemic levels.

In the quest to expand housing options nationwide, the Five Star Institute, in partnership with Xome, held a recent webinar focused on key strategies and initiatives to help provide access to affordable housing.

Freddie Mac reports a slight one basis-point rise in the 30-year, fixed-rate mortgage to begin 2024, with rates moving sideways as the market digests incoming economic data for the new year. Here’s what they expect for the months ahead.

Bringing 25-plus years of experience to his new role, David Sparks will help in identifying and growing strategic relationships with affordable housing assistance providers to offer new programs for Waterstone Mortgage customers.

Pending home sales in November remained the same as October 2023's report, however NAR expects that to change as the downward trend in mortgage rates is expected to shift home sales upward to close out 2023.

Mortgage rates continue to drop to close out 2023, a positive turn of events for potential buyers after 17 consecutive weeks with rates above the 7% mark.