With mortgage rates continuing to edge closer to the 8% mark, home builders have reduced home prices in order to boost sales. Just how many reported cutting home prices in October? We’ve got the answers.
Read More »Mortgage Rates Push Closer to the 8% Mark
“Incoming data shows that the construction of new homes rebounded in September, but as rates keep rising, home builders appear to be losing confidence,” said Freddie Mac Chief Economist Sam Khater. Check out the data and further insights after the link.
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 »Construction Materials, Overall Industry Continue Downward Slide
A new report finds that labor issues continue to be a concern in the industry, with a decreased skilled labor pool magnified by an increase in the number and size of certain projects.
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 »Spring Homebuyers Benefit From Slowing Price Growth, Fall in Rates
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.
Read More »Home Prices Dip Month-Over-Month But Post Annual Gains
S&P CoreLogic Case Shiller reports that despite a 20.4% annual gain in April 2022, home prices in the U.S. were down slightly from 20.6% recorded the previous month.
Read More »Mortgage Application Volume Falls to 22-Year Low
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.
Read More »Foreign Investor Treasury Purchases Hold Mortgage Rates Steady
Mortgage rates rose slightly this week to 2.88%, still below 3%, with prospective homebuyers snatching up all available inventory.
Read More »New Home Sales on the Rise in July
The Census Bureau and HUD have found new home sales slowing in July, rising slightly over June’s totals, and limited by multiple supply-side headwinds.
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