Tag Archives: National Association of Home Builders (NAHB)

The MBA reports that week-over-week, mortgage application volume fell 1.8%, partly driven by a 10% decrease in FHA applications as the overall average purchase loan size hit $432,700,

A slowdown in inflation caused the 30-year, fixed-rate mortgage to take an 18-basis point week-over-week plunge after nearly crossing the 7%-mark the week prior.

After a three-week slide, Freddie Mac reports the fixed-rate mortgage rose four basis points week-over-week, and despite affordability headwinds, buyers have driven new home sales to levels seen in more than 12 months.

The MBA reports that new home sales have been driving purchase activity in recent months, as buyers continue to seek options beyond the existing-home market.

The U.S. Census Bureau and HUD have found that new, single-family home sales were at a seasonally-adjusted annual rate of 763,000 in May 2023, 12.2% above April 2023’s rate of 680,000 marking the highest level reported since February 2022.

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.

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.