Homebuyers have yet to respond in force to drop in rates, which have been in retreat from 2024 highs for three consecutive weeks following Fed easing and soft jobs and CPI reports. Continue reading
A solid Q1 earnings report has Redfin CEO Glenn Kelman feeling confident. However, persistent market headwinds are keeping the CEO from being too bullish. Continue reading
Some borrwers were quick to spring into action, with applications for purchase loans rising by a seasonally adjusted 2 percent and requests to refinance up 5 percent week over week. Continue reading
Households with a median income of $64,000 or less lost their buying gains in 2023, according to Redfin. The share of new mortgages issued to this group dropped 11 percent from 2020 to 2023. Continue reading
Fannie Mae survey finds 67 percent of Americans agree that it’s a good time to sell, the highest level in nearly 2 years. But only 20 percent say it’s a good time to buy. Continue reading
Low inventory drove prices higher nationwide despite some of the highest mortgage rates in decades, National Association of Realtors Chief Economist Lawrence Yun said on Wednesday. Continue reading
Rates have been in retreat as bond market investors who fund most mortgage loans react to the latest economic news and scaleback in tightening by Fed policymakers. Continue reading
Rising population rates and a shrinking racial wealth gap have led to a rise in new mortgage applications among homebuyers of color, according to Redfin’s latest report. Continue reading
Redfin CEO Glenn Kelman said rising rates and home prices are crushing consumer sentiment. However, rising inventory and a year-end interest rate cut will be key to restoring it. Continue reading
Requests for purchase loans were down 1 percent week over week and 15 percent from a year ago, according to the latest Mortgage Bankers Association survey. Continue reading