U.S. Housing Market
Mortgage Applications for New Home Purchases Surged in July
The average loan size for new homes decreased from $376,077 in June to $372,745 in July. Continue Reading Mortgage Applications for New Home Purchases Surged in July
Will a Fannie Mae-Freddie Mac IPO Raise or Lower Mortgage Rates?
Expert opinions are divided on the issue. Continue Reading Will a Fannie Mae-Freddie Mac IPO Raise or Lower Mortgage Rates?
Zillow Bans Private Listings from Platform
eXp Realty has become the first brokerage to align itself with Zillow’s new policy. Continue Reading Zillow Bans Private Listings from Platform
Pending Home Sales in Mid-Atlantic Region Up by Nearly 40%
“Falling mortgage rates could give the housing market a boost this spring,” said Dr. Lisa Sturtevant, chief economist at Bright MLS. Continue Reading Pending Home Sales in Mid-Atlantic Region Up by Nearly 40%
DR Horton Begins Pre-Selling New Community in Texas
The company added that pricing on the lots begin in the high $300,000s. Continue Reading DR Horton Begins Pre-Selling New Community in Texas
Housing market cools off as mortgage rates rise
Source: Click Orlando --- ORLANDO, Fla. – Between economic uncertainty and booming interest rates, the once red-hot housing market is starting to cool off. Buying a home during the pandemic was extremely competitive as a combination of low mortgage rates, low...
Mortgage demand rises 2.2% as interest rates decline slightly
Source: CNBC --- Mortgage applications rose 2.2% last week compared with the previous week, prompted by a slight decline in interest rates, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinance applications, which are usually most...
Nearly 1/4 Americans Are Looking to Move. These Are the Cities They’re Leaving and Why
Source: The Ascent --- I'm moving. The dates are squishy, but it's decided. By the first half of 2023, my friend and I are high-tailing it from Los Angeles, California, to the Portland, Oregon, region. As much as we love our beaches cooked sunny-side up, it's too...
Existing Homes Fall Again in October, Leading Indicators Signal Economic Downturn
Source: US News --- Sales of existing homes fell in October for the ninth straight month, down 5.9% from a month earlier as buyers faced mortgage rates that have doubled in the past year, the National Association of Realtors said on Friday. Sales, at an annual pace...
U.S. existing home sales plunge; tight inventory keeps prices rising
Source: Reuters --- WASHINGTON, Nov 18 (Reuters) - U.S. existing home sales tumbled for a record ninth straight month in October as the 30-year fixed mortgage rate hit a 20-year high and prices remained elevated, pushing homeownership out of the reach of many...
Economist explains why the ‘floor is coming’ for US housing market
Source: New York Post --- The US housing market is likely close to hitting a bottom following months of plummeting buyer demand and falling home prices, a prominent economist said in a note to clients this week. Homebuilder confidence fell for the 11th straight month...
White House officials say we are ‘in a housing affordability crisis’: NAHB CEO
Source: Yahoo! News --- National Association of Home Builders CEO Jerry Howard joins Yahoo Finance Live to discuss the U.S. housing market, mortgage rates, and homebuilder sentiment. Video Transcript SEANA SMITH: Let's take a look at the housing market, because more...
House prices might plunge 20% in the hottest US markets – and the slump could hammer the wider economy, top investor says
Source: Markets Insider --- House prices could plummet 20% in some US cities as soaring mortgage rates scare off buyers, Peter Boockvar has said. Bleakley Advisory's chief investor endorsed the Dallas Federal Reserve's grim forecast in a CNBC interview on Wednesday....
If you think it’s a bad time for mortgages, think again
Source: MPA Magazine --- Like so many others in the mortgage industry, Lamont Harris Jr (pictured), didn’t always think about working in real estate. In fact, he once harbored ambitions of becoming a professional actor after dropping out of college. “I went to...
Mortgage Rates Might Have Peaked, Experts Say. What That Means for You
Source: NextAdvisor --- Mortgage rates have doubled since the start of 2022, slamming the breaks on a superheated housing market. But is 7% as high as they’re going to go? Maybe. “We probably have seen peak mortgage rates unless there is some other major shock to the...
