Tag Archives: Builder Confidence

“Lack of existing inventory continues to drive buyers to new construction,” said National Association of Home Builders Chief Economist Robert Dietz.

The MBA reports that mortgage app volume rose for the fourth consecutive week, fueled by a continued drop in rates at the outset of the spring buying season.

For the second consecutive week, mortgage rates have dipped, providing a much-needed boost to the housing marketplace and sparking a rise in overall mortgage app volume.

The MBA reports that the downturn in mortgage rates has triggered homebuyer interest, as overall app volume has increased for the second consecutive week, and refinance activity rose 6% week-over-week.

Mortgage rates continue to force down application volume, with Freddie Mac reporting rates moving slightly upward yet again this week, adversely impacting the housing market as demand dwindles.

Rising rates and a dwindling demand for refis has pushed mortgage applications down for a third consecutive week, falling to lows last seen in 2000.

HUD and the Census Bureau report that single‐family housing starts in June were 8.1% below May’s figure, as builder confidence continues to fall.

NAHB has found buyer confidence dipping over 10 points in July, the second largest drop on record, only eclipsed by a 40+ point decline at the onset of the pandemic.

The MBA reports overall mortgage app volume slid 6.5% week-over-week, with buyers continuing to be shunned by a combo of high rates and prices, amid slowly rising inventory.

As builders continued to face rising costs, supply-chain issues, and extended completion times, the buying market has cooled amid high mortgage rates and lingering affordability concerns.