For Week Ending January 13, 2024 Fannie Mae’s Home Purchase Sentiment Index (HPSI) climbed nearly three points to 67.2 in December and was up 6.2 points year-over-year, according to the latest National Housing Survey®. The rise was attributed to increasing … Continue reading
Mortgage Rates Decrease to Lowest Level Since May of 2023
January 18, 2024 Mortgage rates decreased this week, reaching their lowest level since May of 2023. This is an encouraging development for the housing market and in particular first-time homebuyers who are sensitive to changes in housing affordability. However, as … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending January 6, 2024 Median priced single-family homes and condos were less affordable compared to historical averages in 99% of counties nationwide in the 4th quarter of 2023, according to ATTOM’s Q4 2023 U.S. Home Affordability Report. Major … Continue reading
Mortgage Rates Continue to Hover in the Mid-Six Percent Range
January 11, 2024 Mortgage rates have not moved materially over the last three weeks and remain in the mid-six percent range, which has marginally increased homebuyer demand. Even this slight uptick in demand, combined with inventory that remains tight, continues … Continue reading
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending December 30, 2023 U.S housing starts surged following the drop in mortgage rates, jumping 14.8% from the previous month to a seasonally adjusted annual rate of 1,560,000 units, according to the U.S. Census Bureau. The latest reading … Continue reading
Mortgage Rates Move Sideways as Markets Digest Incoming Data
January 4, 2024 Between late October and mid-December, the 30-year fixed-rate mortgage plummeted more than a percentage point. However, since then rates have moved sideways as the market digests incoming economic data. Given the expectation of rate cuts this year … Continue reading
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