Market News
Mortgage Rates Just Dropped, but Will They Stay Down for Long? A Look Ahead – July 24th, 2023
By Margaret Heidenry Homebuyers have been through the wringer this year, squeezed by high mortgage rates, stubbornly stratospheric home prices, and a drought of fresh real estate listings. But there is some joy in the market of late: ...
U.S. Home Prices Posted First Annual Decline Since 2012 in April – Jun 28th, 2023
By Nicole Friedman Home prices posted their first year-over-year price decline in 11 years in April, as higher mortgage rates made home purchases more expensive for buyers. The S&P CoreLogic Case-Shiller National Home Price Index, whi...
Confidence in housing market reaches highest level in a year – May 8, 2023
By Adam Barnes Consumers’ belief that mortgage rates will go down elevated confidence in the housing market to its highest level in nearly a year last month, according to data released Monday. Fannie Mae’s Home Purchase Sentiment ...
What Goes Up Must Come Down? Why a Mortgage Rate Free-Fall May Be Dead Ahead – May 1st, 2023
By Andrea Riquier Despite signs that the economy might be slowing, mortgage rates crept higher for the second week in a row. The interest rate on a 30-year fixed-rate mortgage averaged 6.43% in the week ending April 27, according to F...
U.S. Housing Starts Decline in March as Apartment Construction Cools – April 18th, 2023
By Aarthi Swaminathan The numbers: Construction of new homes fell 0.8% in March to a rate of 1.42 million due to slower work on apartment buildings, leaving prospective buyers with limited options. Economists polled by the Wall Stree...
Is the U.S. Tipping Into a Recession? The Answer Will Determine the Direction of the Housing Market – Mar 29th, 2023
By Clare Trapasso Whether the nation is in a recession, hurtling toward one, or will narrowly avoid it altogether, whatever is going on in this uncertain, rocky economy is giving many would-be homebuyers and sellers pause. There is no...
Mortgage rates tumble in the wake of bank failures
By Diana Olick KEY POINTS The average rate on the popular 30-year fixed mortgage dropped to 6.57% on Monday, according to Mortgage News Daily. If rates continue to drop now, buyers could return to the housing market once agai...
Pending Home Sales Rise 8.1% in January, Largest Increase Since June 2020. – Mar 3, 2023
By Aarthi Swaminathan The numbers: U.S. pending home sales rose 8.1% in January, according to the monthly index released Monday by the National Association of Realtors (NAR), with sales rising for the second month in a row. Pending h...