December 12, 2024 The 30-year fixed-rate mortgage decreased for the third consecutive week. The combination of mortgage rate declines, firm consumer income growth and a bullish stock market have increased homebuyer demand in recent weeks. While the outlook for the … Continue reading →

For Week Ending November 30, 2024 The majority of new single-family housing starts in 2023 were built on slab foundations, according to the National Association of Home Builders’ analysis of the Survey of Construction (SOC), with 72.4% of new homes … Continue reading →

December 5, 2024 This week, mortgage rates decreased to their lowest level in over a month. Despite just a modest drop in rates, consumers clearly have responded as purchase demand has noticeably improved. The responsiveness of prospective homebuyers to even … Continue reading →

For Week Ending November 23, 2024 U.S. homeowners with a mortgage have seen their equity increase by a total of $1.3 trillion since the second quarter of 2023, an 8% increase year-over-year, according to CoreLogic’s Q2 2024 Homeowner Equity Insights … Continue reading →

November 27, 2024 The 30-year fixed-rate mortgage moved down this week, but not by much. Rates have been relatively flat over the last few weeks as the market waits for more clarity on specific economic policies. Potential homebuyers are also … Continue reading →

For Week Ending November 16, 2024 The number of homes available for sale hit its highest level since December 2019, rising 29.2% year-over-year in October, the 12th consecutive month of growth, according to Realtor.com. Homes spent an average of 58 … Continue reading →

November 21, 2024 Mortgage rates ticked back up this week, continuing to approach 7 percent. Heading into the holidays, purchase demand remains in the doldrums. While for-sale inventory is increasing modestly, the elevated interest rate environment has caused new construction … Continue reading →

For Week Ending November 9, 2024 U.S. pending home sales increased 7.4% month-over-month and 2.6% year-over-year, as falling mortgage rates in August and September helped under contract sales rise to their highest level since March, according to the National Association … Continue reading →

SIZABLE GAINS IN LISTINGS AND SALES DESPITE RATE ENVIRONMENT Signed purchase agreements were up 10.4% statewide, and new listings were up 9.1% The median sales price increased 5.3% to $347,500 Market times rose 10.5% to 42 days, and inventory was … Continue reading →

November 14, 2024 After a six-week climb, rates have leveled off, but overall affordability continues to be an issue for potential homebuyers. Freddie Mac’s latest research shows that mortgage payments compared to rents on the same homes are elevated relative … Continue reading →

For Week Ending November 2, 2024 U.S. housing starts edged down 0.5% from the previous month to a seasonally adjusted annual rate of 1.35 million units, according to the U.S. Census Bureau. Single-family housing starts rose 2.7% to a seasonally … Continue reading →

November 7, 2024 Mortgage rates continued to inch up this week, reaching 6.79 percent. It is clear purchase demand is very sensitive to mortgage rates in the current market environment. As soon as rates began to rise in early October, … Continue reading →

For Week Ending October 26, 2024 Millennials—people ages 28 to 43—make up the largest share of homebuyers nationwide, according to the National Association of REALTORS® 2024 Home Buyers and Sellers Generational Trends Report. Millennials comprised 38% of buyers in transactions … Continue reading →

October 31, 2024 Increasing for the fifth consecutive week, mortgage rates reached their highest level since the beginning of August. With several potential inflection points happening over the next week, including the jobs report, the 2024 election, and the Federal … Continue reading →