Tag Archives: Inflation

Nearing levels last recorded in November 2022, Freddie Mac reports the fixed-rate mortgage rose 15 basis points week-over-week and edged closer to the 7%-mark.

“This upward trend is being driven by a resilient economy, persistent inflation, and a more hawkish tone from the Federal Reserve,” said Freddie Mac Chief Economist Sam Khater.

“We forecast single-family purchase mortgage originations to be $1.32 trillion in 2023 and $1.41 trillion in 2024, representing downward revisions of $41 billion and $60 billion, respectively, relative to last month’s forecast,” the ESR said.

For the first time in nearly 11 months, solid demand, a lack of existing inventory, and an improvement in supply chain efficiency have all contributed to an uptick in home builder confidence nationwide.

"We are starting to see some patterns that show where the U.S. housing market is cooling off and how it's hitting homeowners based on some key metrics. It looks so far—and it's important to stress, so far—to be having more impact in places with the highest housing costs and less impact elsewhere," said Rob Barber, CEO at ATTOM.

According to Zillow's May 2023 Market Report, newly pending listings are up nearly 10% from April, as homebuying competition is driving home prices up and housing inventory down to record lows for this time of year.

According to a new report from Redfin, some 33.4% of U.S. home purchases in April were made in cash, marking the highest share of all-cash home sales since 2014.

As affordability struggles worsen for homeowners and buyers nationwide, for-sale inventory is now at its lowest level since April 2022, according to Black Knight's latest Mortgage Monitor Report for April.

As mortgage rates creep toward the 7% mark, the MBA reports a third straight week of waning interest in mortgage apps, with a lack of inventory playing a role in purchase app drop-off.

A majority of homebuyers polled in a recent survey reported post-purchase regrets, according to a new report from Clever Real Estate. Click through for a look at the sentiments and specifics from this survey.