Existing-home sales retreated 4.3 percent between February and March to a seasonally adjusted annual rate of 4.19 million, according to data released Thursday by the National Association of Realtors. Continue reading
The recent surge in mortgage rates could take some air out of a projected rebound in 2024 home sales, with deals driven mostly by households who can no longer put off their moves due to life events. Continue reading
Purchase loan applications surged for the second week in a row last week, but now rates are headed back up as worrisome inflation data casts doubts on timing of Fed rate cuts. Continue reading
A key Fed inflation metric, the PCE price index, continues to drop toward the Fed’s 2 percent inflation target, falling from 2.6 percent annual growth in December to 2.4 percent in January. Continue reading
With mortgage rates hovering above 7 percent, requests for purchase loans were down by a seasonally adjusted 5 percent week over week and 2 percent lower than a year ago. Continue reading
The additional boost to 2024 home sales might come at the expense of slightly slower growth next year due to elevated mortgage rates, forecasters said. Continue reading
Applications for purchase loans plummeted by a seasonally adjusted 10 percent last week, according to a survey of lenders by the Mortgage Bankers Association. Continue reading
Investors in these lower-income “opportunity zones” receive tax incentives for improvements. And 2 in 5 of these neighborhoods saw a disproportionately large rise in home prices in late 2024. Continue reading
Winter is always slow, but new listings have been trending toward normal levels in recent months, according to a new Intel analysis of US homes for sale. Lower rates may only speed up the process. Continue reading
With listings still in short supply, homebuyers are “dealing with an affordability shock” and new homes will play an outsize role in housing markets, Zonda Chief Economist Ali Wolf said at ICNY. Continue reading