"Prospective home buyers experienced another difficult month due to the persistent lack of housing inventory and the highest mortgage rates in a generation," said NAR Chief Economist Lawrence Yun.
Read More »Are Mortgage Rates Poised to Fall?
“These high interest rates have had a great impact on the U.S.’ overall economic performance,” said National Association of Realtors Chief Economist Lawrence Yun. “Statistically, this is much better than the historical average, but if we look at this component, there are some worrying signs in the economy.”
Read More »Bad News on the Home Inventory Front
A new HouseCanary report finds that housing inventory has probably peaked for the year, and the peak was the lowest recorded since the pandemic began. Is there any relief on the horizon?
Read More »Unseasonable Increase in October Home Inventory
"The current housing market continues to challenge homebuyers and sellers alike, but we do see signs of adjustment," said Danielle Hale, Chief Economist at Realtor.com.
Read More »Existing-Home Sales Retreated in August
"Home sales have been stable for several months, neither rising nor falling in any meaningful way," said NAR Chief Economist Lawrence Yun.
Read More »Pending Home Sales Improve Over Recent Lows
“Fading recession fears and the prospect of further home price increases have brought some house hunters off the sidelines, but for the most part, buyers remain hesitant to jump into the market because their buying power is so much lower than it was a year ago,” said Redfin Chief Economist Daryl Fairweather.
Read More »How Are Mortgage Rates Impacting Home Sales?
A new Zillow survey reveals that 80% of mortgage holders report having a rate of less than 5%, as over time, homeowners will come to terms with higher rates as commonplace.
Read More »Lingering Economic Concerns Push Mortgage Rates Upward
Along with a lack of inventory in the nation’s housing supply, Freddie Mac reports the 30-year fixed-rate mortgage continues to edge toward the 7% mark, further dampening the spring homebuying season.
Read More »Mortgage Apps Fall Nearly 5% Week-Over-Week
With mortgage rates rising to levels last seen in March, the MBA reports that overall application volume dropped 4.6% week-over-week, amid a continued lack in the nation’s housing inventory.
Read More »Rates Keeping Many Prospective First-Time Homebuyers on Sidelines
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.
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