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| Homebuilder Confidence Consolidation Continues | ||
| 1/17/2025 2:40 PM | ||
| While it would be technically accurate to point out a slight increase in January"s homebuilder confidence (officially the National Association of Homebuilders Housing Market Index or HMI ), the type of movement we"ve seen in the past 2 years is better characterized as "incidental" in the bigger picture. As with most housing-related metrics, HMI p...Read More | ||
| Housing Construction Bounced Back in December Thanks to Multifamily Sector | ||
| 1/17/2025 2:16 PM | ||
| The US Census Bureau released its New Residential Construction report for December today. The report measures building permits, the start of the construction process (housing starts), and housing completions. While construction has definitely been running well below the highs seen 3 years ago, it continues to operate just above pre-pandemic ...Read More | ||
| Mortgage Applications Improved Even as Rates Moved Higher | ||
| 1/15/2025 2:13 PM | ||
| There hasn"t been meaningful change in economic data that measures activity in the housing and mortgage markets. In a nutshell, activity has been drifting along at long-term lows. The weekly survey of mortgage application activity from the Mortgage Bankers Association (MBA) is no exception, for the most part. Refinancing picked up in t...Read More | ||
| Mortgage Applications Don"t Have Much to Lose | ||
| 1/10/2025 4:09 PM | ||
| 2024 has been one of those "it is what it is" sort of years for activity in the mortgage market. There were signs of hope over the summer months as rates fell enough to make for a noticeable spike in refinance activity. But with the rapid reversal starting in October, refi demand is right back in line with long term lows according to th...Read More | ||
| Home Prices Remain The Housing Market"s Biggest Mixed Blessing | ||
| 1/3/2025 2:49 PM | ||
| Blessings, curses, enigmas, paradoxes, etc... The state of home price appreciation in the U.S. is all of the above. The positive case for home prices is as simple as glancing at the most recent update on the two major home price indices (HPIs) released this week by FHFA and Case Shiller. Both agree that homes continue to appreciate at a...Read More | ||
| Mortgage Application Activity Evaporates as Data Catches Up With Rates | ||
| 1/3/2025 2:22 PM | ||
| The Mortgage Bankers Association (MBA) didn"t publish updated weekly application numbers last week, which meant that this week"s data had to play catch up with any changes in market conditions. Even as early as December 18th--the last time the application data came out--the writing was already on the wall due to the rate spike that followed t...Read More | ||
| Pending Home Sales at Highest Level in Almost 2 Years | ||
| 12/30/2024 2:11 PM | ||
| The National Association of Realtors (NAR) releases monthly reports on both existing and pending home sales. The latter tracks signed purchase contracts that have not yet closed. As such, it"s seen as a good early indicator of existing home sales in the following month. The housing market would take any help it can get at the moment and Nove...Read More | ||
| New Homes Sales Bounce Back After Hurricane Season | ||
| 12/23/2024 2:08 PM | ||
| Those who spend any time digging into home construction and home sales figures in the U.S. know that, of the 4 census divisions, the South accounts for about twice as much activity as the other 3 regions combined. For example, in data released today for the month of November, the South accounted for an annual pace of 417k new home sales out o...Read More | ||
| Highest Existing Home Sales Since March | ||
| 12/19/2024 2:33 PM | ||
| Just in time for the big jump in interest rates seen after yesterday"s Fed announcement, the latest Existing Home Sales data from the National Association of Realtors (NAR) shows sales at the highest seasonally adjusted pace since March. Compared to the same time last year, sales are up 6.1%--the best year over year improvement since June 202...Read More | ||
| Modest Refi Surge Was Fun While it Lasted | ||
| 12/18/2024 3:06 PM | ||
| Heading into the first part of December, mortgage rates were at their lowest levels in a month and a half. Much of the improvement from the recent highs occurred in a single week (the last week of November). That made for an obvious and logical uptick in refinance applications the following week, according to the Mortgage Bankers Associ...Read More | ||
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