Tag Archives: National Association of Home Builders (NAHB)

Freddie Mac reported that mortgage rates experienced the largest one-week spike since gauging the metric in 1987—nearly doubling year-over-year.

As builders continued to face rising costs, supply-chain issues, and extended completion times, the buying market has cooled amid high mortgage rates and lingering affordability concerns.

With rates still above the 5% mark, mortgage application volume fell for the fourth time in five weeks, hitting a low last seen in December of 2018.

A slight drop in mortgage rates may be a sign of market normalization, but lingering economic instability and inflationary issues remain hurdles that prospective buyers are still unable to overcome.

The price of new home sales experienced a near 17% decline in April, hitting its lowest level in two years.

A rise in mortgage rates over the 5% mark, and an increase in prices has impacted April buyer activity, as buyers wait for the market to show signs of stability.

After weeks of rising mortgage rates, continued economic unpredictability has driven rates down slightly this week, as homebuilder sentiment hit its lowest level in 24 months.

The rise in mortgage rates and inflationary concerns are impacting new residential construction, as borrower costs continue to force many prospective buyers to the sidelines.

As the quest for the American Dream continues, homebuyer competition intensifies amidst rising rates, record high prices, and insufficient inventory.

Despite lingering supply chain concerns, there were 811,000 single-family units under construction in March, marking the highest level since 2006.