November 16, 2023 For the third straight week, mortgage rates trended down, as new data indicates that inflationary pressures are receding. The combination of continued economic strength, lower inflation and lower mortgage rates should likely bring more potential homebuyers into … Continue reading
Rates briefly break 8.0%, further burdening buyers and stifling sellers
The median sales price increased 2.4% to $365,000 Signed purchase agreements fell 4.9%; new listings down 1.1% Sellers still getting solid offers at 98.4% of list price in an average of 37 days (Nov. 15, 2023) – According to new … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending November 4, 2023 Builder confidence continues to wane amid persistently high mortgage rates, which have remained above 7% since mid-August. According to the National Association of Home Builders, builder confidence in newly built single-family homes fell four … Continue reading
As Treasury Yields Decline, Mortgage Rates Move Down
November 9, 2023 As Treasury yields decline, the 30-year fixed-rate mortgage dropped a quarter of a percent, the largest one-week decrease since last November. Incoming data show that household debt continues to rise, primarily due to mortgage, credit card and … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending October 28, 2023 Elevated mortgage rates have surpassed high home prices as the primary barrier to housing affordability, according to Fannie Mae’s latest Home Price Sentiment Index (HPSI), which fell by 2.4 points to 64.5 in September. … Continue reading
After a Multi-week Climb, Mortgage Rates Level Off
November 2, 2023 The 30-year fixed-rate mortgage paused its multi-week climb but continues to hover under eight percent. The Federal Reserve again decided not to raise interest rates but have not ruled out a hike before year-end. Coupled with geopolitical … Continue reading
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