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New Home Purchase Applications Up Nearly 40% in October

New Home Purchase Applications Up Nearly 40% in October

by Phil Hall | Nov 16, 2023 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Mortgage applications for new home purchases during October were up by 6% from September and up by 39.7% from one year earlier, according to new data from the Mortgage Bankers Association (MBA). The MBA estimated new single-family home sales were running at a...
Builder Confidence Down for Fourth Consecutive Month

Builder Confidence Down for Fourth Consecutive Month

by Phil Hall | Nov 16, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Builder confidence in the market for newly built single-family homes fell six points to 34 this month, according to the National Association of Home Builders (NAHB)/Wells Fargo (NYSE:WFC) Housing Market Index (HMI). This marks the fourth consecutive monthly drop in...
The Most Expensive ZIP Code Is…

The Most Expensive ZIP Code Is…

by Phil Hall | Nov 16, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Atherton, California, has less than 7,200 residents but more super-expensive homes than any other U.S. locality, according to PropertyShark’s 2023 listing of the nation’s most expensive ZIP Code. Atherton’s 94027 ZIP Code saw a 2023 median home sale price of $8.3...
Mortgage Rates Drop for Third Straight Week

Mortgage Rates Drop for Third Straight Week

by Phil Hall | Nov 16, 2023 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Mortgage rates continued to decline for the third consecutive week in the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 7.44% as of Nov. 16, down from last week when it averaged 7.5%. A year ago at this...
The State with the Highest Average Credit Score Is…

The State with the Highest Average Credit Score Is…

by Phil Hall | Nov 16, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Its official nickname is The North Star State and it is frequently referred to as The Land of 10,000 Lakes, but a new data study from WalletHub could result in a new moniker for Minnesota: The Credit Score State. In a number crunch of the average credit scores of...
Younger Buyers Expressing Greater Interest in ‘House Hacking’

Younger Buyers Expressing Greater Interest in ‘House Hacking’

by Phil Hall | Nov 16, 2023 | News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

There is a growing trend among younger homebuyers – the pursuit of a property that enables them to engage in “house hacking,” a new phrase for renting out part or all of the residence for extra cash. According to a new survey by Zillow Group (NASDAQ:Z, ZG), most...
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