September 21, 2023 Mortgage rates continue to linger above seven percent as the Federal Reserve paused their interest rate hikes. Given these high rates, housing demand is cooling off and now homebuilders are feeling the effect. Builder sentiment declined for … Continue reading →

The median sales price increased 2.7 percent to $389,900 Signed purchase agreements fell 10.5 percent; new listings down 2.8 percent Sellers still getting strong offers at 100.0 percent of their list price (September 15, 2023) – According to new data … Continue reading →

For Week Ending September 9, 2023 Mortgage applications fell to their lowest level since 1996, with total mortgage applications dropping 0.8% from the previous week, according to the Mortgage Bankers Association (MBA), as higher mortgage interest rates continue to take … Continue reading →

September 14, 2023 Mortgage rates inched back up this week and remain anchored north of seven percent. The reacceleration of inflation and strength in the economy is keeping mortgage rates elevated. However, potential homebuyers can still benefit during these times … Continue reading →

For Week Ending September 2, 2023 The lack of existing-home inventory continues to boost demand for new construction homes, and U.S. homebuilders are ramping up production to help meet buyers’ needs. According to the U.S. Census Bureau, total housing starts … Continue reading →

September 7, 2023 For the fourth consecutive week, the 30-year fixed-rate mortgage hovered above seven percent. The economy remains buoyant, which is encouraging for consumers. Though while inflation has decelerated, firmer economic data have put upward pressure on mortgage rates … Continue reading →

For Week Ending August 26, 2023 U.S. home equity recently hit a 4-year high, with nearly half of all mortgage borrowers considered equity rich—having a loan to value ratio of 50% or lower—in the second quarter of this year. According … Continue reading →

August 31, 2023 Mortgage rates leveled off this week but remain elevated. Despite continued high rates, low inventory is keeping house prices steady. Recent volatility makes it difficult to forecast where rates will go next, but it might be easier … Continue reading →

For Week Ending August 19, 2023 International buyers of U.S. homes purchased 14.2% fewer homes from April 2022 to March 2023 compared to the same 12-month period a year before, according to the latest data from the National Association of … Continue reading →

August 24, 2023 This week, the 30-year fixed-rate mortgage reached its highest level since 2001 and indications of ongoing economic strength will likely continue to keep upward pressure on rates in the short-term. As rates remain high and supply of … Continue reading →

For Week Ending August 12, 2023 Seller profit margins are up nationwide following three quarterly declines, according to ATTOM’s Q2 2023 U.S. Home Sales Report. Typical profit margins on medianpriced single-family and condo sales climbed to 47.7% in the second … Continue reading →

August 17, 2023 The economy continues to do better than expected and the 10-year Treasury yield has moved up, causing mortgage rates to climb. The last time the 30-year fixed-rate mortgage exceeded seven percent was last November. Demand has been … Continue reading →

The median sales price remained flat at $375,000 Signed purchase agreements fell 9.5 percent; new listings down 16.0 percent Sellers accepted offers for an average of 100.8 percent of their list price (August 15, 2023) – According to new data … Continue reading →

For Week Ending August 5, 2023 According to ATTOM’s Q2 2023 Home Affordability Report, 98% of median-priced U.S. single-family homes and condos were less affordable than their historical averages in the second quarter of 2023, up from 94% in the … Continue reading →

August 10, 2023 For the third straight week, mortgage rates continued creeping up and are now just shy of seven percent. There is no doubt continued high rates will prolong affordability challenges longer than expected, particularly with home prices on … Continue reading →