According to a new report from Realtor.com, U.S. housing markets continue to struggle with a significant shortage of new homes, a result of more than a decade of under-building in response to population growth.
Read More »Inventory Makes Record YoY Recovery
"The number of homes for sale on the market is up significantly from a year ago, even though fewer homeowners have listed their home for sale in recent months,” said Danielle Hale, Chief Economist for Realtor.com.
Read More »Mortgage Rates Close in on the 7% Mark
Continued economic growth and a rise in inflation have helped push mortgage rates up for the fourth consecutive week, making it difficult for potential buyers to jump into the purchase market.
Read More »Strong Jobs Market, Falling Rates Improve Pending Sales
“Buyers responded to better affordability from falling mortgage rates in December and January,” said NAR Chief Economist Lawrence Yun.
Read More »Mortgage Rates Continue to Climb Upward
As existing-home sales fall for the 12th consecutive month, Freddie Mac reports that the rise in rates to 6.50% has exacerbated affordability issues for homebuyers nationwide.
Read More »Existing-Home Sales Fall for 12th Straight Month
Existing-home sales have declined 0.7% month-over-month from December 2022, and 36.9% year-over-year, as the median existing-home sales price rose 1.3% from one year ago to $359,000.
Read More »Weekly Mortgage Rates Swing Up Again
“Mortgage rates moved up for the second consecutive week,” said Sam Khater, Freddie Mac’s Chief Economist. “The economy is showing signs of resilience, mainly due to consumer spending, and rates are increasing.”
Read More »Mortgage Rates Reverse Trend, Inch Upward
What caused the uptick in fixed mortgage rates, and what might it mean for the housing market in the months ahead?
Read More »Purchase, Refi Apps Both Show Gains
A consistent decline in mortgage rates has attracted the attention of buyers and those seeking refis, as the MBA reports a rise in mortgage apps in excess of 7% week-over-week.
Read More »Nominal Interest Rate up 25pts
The Federal Open Market Committee moved to raise the nominal interest rate by 25 points to a range of 4.50-4.75% at the end of its February meeting.
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