Housing demand firming up with lower mortgage rates
Housing demand is very seasonal, so the fact that our pending contract data is firming up lately just shows that lower mortgage rates have stabilized and firmed up demand recently…. Read more »
Category: MORTGAGE RATES
Did lower mortgage rates slow housing inventory growth?
My model for inventory growth with higher mortgage rates came crashing down last week. After two weeks of significant increases, inventory growth slowed dramatically and is far from my 11,000-17,000… Read more »
Labor market report is good news for mortgage rates
Friday’s jobs report came in as a miss of estimates and wage growth came in lower than expected. The labor market isn’t tight anymore and that will eventually be good… Read more »
Finally, some healthy housing inventory growth
Housing inventory finally hit my target level of growth last week with mortgage rates now over 7.25%, something I couldn’t get all last year. Of course, what is different this… Read more »
Apartment permits are back to recession lows. Will mortgage rates follow?
In Tuesday’s report, the 5-unit housing permits data hit the same levels we saw in the COVID-19 recession. Once the backlog of apartments is finished, those jobs will be at… Read more »
Measuring the Severity of the National Housing Shortage
There is a severe housing shortage as a result of record-high home prices and rents in addition to record-low for-sale inventories and vacancies, according to a new analysis from the… Read more »
Housing demand rises as inventory falls
Housing demand is up and it’s time to track the spring housing data and see what the selling season will bring. As I always stress, we are working from the… Read more »
Homebuyers Adjusting Purchase Strategies in Search of Homeownership
Americans are purchasing multi-family properties and co-owning homes with friends and/or family, and prospective homebuyers are willing to adjust their homebuying strategies to become homeowners in 2024. This is according… Read more »
Office Space to Living Space: Conversions to Skyrocket in Major U.S. Cities
According to a new RentCafe report, over the past four years, there has been extraordinary growth in the conversion of office buildings into living spaces, with an estimated 12,100 apartments… Read more »
Mortgage rates sit still in the first week of 2024
In the first week of 2024, mortgage rates continued to stick around the mid 6% mark. The 30-year fixed-rate mortgage averaged 6.62% as of Jan. 4, a slight increase from… Read more »