"The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices," said Lawrence Yun, NAR Chief Economist.
Read More »Housing Stock on the Rise Nationwide
The Census Bureau and HUD report that single-family housing completions rose month-over-month in December, boosting housing supply nationwide.
Read More »Lower Mortgage Rates Boosting Buyer Confidence
Mortgage rates continue to drop to close out 2023, a positive turn of events for potential buyers after 17 consecutive weeks with rates above the 7% mark.
Read More »Pending Home Sales Drop on Monthly, Yearly Basis
“Today’s data signal that home sales activity is likely to remain steady, at a low level, over the next few months as limited options and significant affordability challenges weigh on buyers,” said Realtor.com Senior Economic Research Analyst Hannah Jones.
Read More »23-Year-High Mortgage Rates Further Suppress App Volume
With the 30-year, fixed-rate mortgage edging closer to eclipsing the 8% mark, the MBA reports overall application volume falling from last week’s total, dipping to the slowest weekly pace reported since 1995.
Read More »Pending Home Sales Fall 7% in August
NAR reports that pending home sales dropped in all four U.S. regions month-over-month and compared to one year ago, as mortgage rates above 7% continue to impact homebuying.
Read More »New Residential Sales Slow in August
Month-over-month, HUD and the Census Bureau reported an 8.7% drop-off in new home sales in August, with sales impeded by mortgage rates over the 7% mark.
Read More »New Building Permit Numbers Beats Expectations
“U.S. housing starts in July were at a seasonally adjusted annual rate of 1.452 million, which is 3.9% above the downward revised June estimate of 1.398 million and is 5.9% above the July 2022 rate of 1.371 million,” First American Deputy Chief Economist Odeta Kushi said.
Read More »Are We Approaching a ‘Double-Dip’ Housing Recession?
According to Odeta Kushi, First American's Deputy Chief Economist, there has never been an official or general agreement on what constitutes a housing recession.
Read More »Keeping Afloat
MortgagePoint speaks with mortgage servicing execs from BOK Financial, Carrington, the NMSA, PHH Mortgage Corporation, and Servbank about the unusual times and unusual opportunities the industry faces midway through 2023.
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