Tag Archives: National Association of Home Builders (NAHB)

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.

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.

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.

The MBA reports April marked the third consecutive month of year-over-year growth in new home purchase apps, as the mortgage rate environment continues to factor into homebuying and selling decisions.

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.

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

Prospective spring home buyers have responded to a second straight week of falling rates according to Freddie Mac, as they pounce on the nation’s limited housing supply, and have driven app volume upward.

Rachel Richardson of Rent. examines several major market trends that impact a property’s day-to-day operations, and what to do about them. 

The MBA reports that despite rates over the 6% mark and low for-sale inventory stunting overall sales, mortgage applications for new home purchases increased 0.6% in March compared to one year ago.

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.