For Week Ending June 1, 2024 The average American household spent 24.2% of their income on mortgage payments in the first three months of the year, according to the National Association of REALTORS®, down from 26.1% the previous quarter. Assuming … Continue reading
Mortgage Rates Pull Back
June 6, 2024 Mortgage rates retreated this week given incoming data showing slower growth. Rates are just shy of seven percent, and we expect them to modestly decline over the remainder of 2024. If a potential buyer is looking to … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending May 25, 2024 Prospective homebuyers received good news recently in the form of declining mortgage rates, which fell for the third consecutive week, offering consumers some relief amid persistent affordability challenges. According to Freddie Mac, the 30-year … Continue reading
Mortgage Rates Move Up
May 30, 2024 Following several weeks of decline, mortgage rates changed course this week. More hawkish commentary about inflation and tepid demand for longer-dated Treasury auctions caused market yields to rise across the board. This reality, as well as economic … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending May 18, 2024 According to the 2021 American Housing Survey, approximately 10.2 million households bought and moved to a new home in the two years preceding the date the survey was conducted. Of those, 40% of buyers … Continue reading
Mortgage Rates Drop Below Seven Percent
May 23, 2024 Spring homebuyers received an unexpected windfall this week, as mortgage rates fell below the seven percent threshold for the first time in over a month. Although this week’s data on previously owned home sales showed a decline, … Continue reading
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