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: Analysis
Is housing inventory growth finally slowing?
Unsold inventory of homes for sale has been on the rise all year. It hasn’t turned the corner yet — inventory rose across the country this week — but at… Read more »
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 »
Virginia Realtors: Zillow’s touring agreement may not be legal
Earlier this week, Zillow launched a new “touring agreement,” a nonexclusive contract for buyers and agents to use for home tours. The real estate giant was prompted to do this by the… 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 »
Are 1970s inflation and mortgage rates possible?
The CPI report came out Tuesday, and the headline number showed a 12-month inflation of 3.2%. The running average of CPI going back to 1914 has been 3.3%. So, what… Read more »
Sens. Klobuchar, Kaine reintroduce bill to create housing policy plans, boost supply
Democratic Sens. Amy Klobuchar (Minn.) and Tim Kaine (Va.) have reintroduced their Housing Supply and Affordability Act to the U.S. Senate in the hope of establishing a new grant program… Read more »
Mortgage rates poised to drop to 5.5% in 2024: Bloomberg
Most economists forecast mortgage rates to decline in 2024, stoking optimism about the housing market. According to the newest Bloomberg Markets Live Pulse Survey (MLIV Pulse), the rate on the… Read more »