Freddie Mac reports that, after retreating for two consecutive weeks, the 30-year fixed-rate mortgage edged back upward this week, nearing the 6.40%-mark, and forcing app volume downward.
Read More »‘Bouncing Back and Forth’: Existing-Home Sales Drop in April
"Home sales … remain above recent cyclical lows," said National Association of Realtors Chief Economist Lawrence Yun, who noted that economic factors were creating “an environment of push-pull housing demand.”
Read More »Independent Mortgage Bank Origination Profits Take Q1 Hit
As the industry continues to face challenging conditions, the MBA reports that independent mortgage banks have endured four consecutive quarters of production losses, and nine consecutive quarters of volume declines.
Read More »Trend of Slowing Rent Growth Continues
"In April, we continued to see rising rent prices and a moderating growth rate. This is promising news for renters, suggesting that the pandemic peaks are behind us, and that the challenging affordability picture may begin to improve," said Realtor.com Chief Economist Danielle Hale.
Read More »Builder Confidence Up Due to Lack of Existing Inventory
“Lack of existing inventory continues to drive buyers to new construction,” said National Association of Home Builders Chief Economist Robert Dietz.
Read More »Housing Market Struggles Headed Into Peak Summer Season
“The housing market remains sluggish heading into the spring homebuying season. While mortgage rates have retreated from recent peaks, they remain elevated compared with one year ago,” Chief Economist Mark Fleming said.
Read More »Single-Family Rent Price Gains Dip YoY in March
Single-family rent price gains continued to slow year-over-year in March, dropping to 4.3%, while popular metros like Charlotte, Orlando, and St. Louis saw the highest rent growth nationwide.
Read More »Purchase Apps Fall to Slowest Pace in a Month
The MBA reports that overall app volume dropped nearly 6% week-over-week, with the 30-year fixed-rate mortgage jumping nine basis points to its highest level in nearly two months.
Read More »Moving During the Pandemic: Exodus or Inertia?
A new blog post by the Joint Center for Housing Studies at Harvard University examines the shrinking share of Americans that have moved over the last two years, falling back to numbers seen before the pandemic began.
Read More »Sale-to-List-Price Ratio Stands at 98.9%
This number is just above recorded lows set in January 2023.
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