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| Big Bounce in Refi Demand Thanks to Lower Rates | ||
| 3/7/2025 1:25 PM | ||
| As we noted last week, the timing of the improvements in mortgage rates meant that the previous survey of mortgage applications from the MBA was unable to capture what would likely prove to be a fairly big uptick in refinance demand. This week"s data confirmed it as the refi index jumped to the best levels since October. Unsurprising...Read More | ||
| Why Didn"t Refi Demand Spike This Week? | ||
| 2/28/2025 2:16 PM | ||
| As is the case almost every week of the year, the Mortgage Bankers Association released its weekly mortgage app survey this week, showing the changes in purchase and refinance applications. We can skip right past any discussion or analysis of the purchase application index as it was almost identical to last week, not to mention reluctant to be inf...Read More | ||
| New Home Sales Drop 10.5%. Should You Care? | ||
| 2/28/2025 1:57 PM | ||
| The Census Bureau released new home sales data for January this week, and the annual pace was a seemingly significant 10.5% lower than last month"s pace. But before you devote even one extra BPM of your heart rate to the news, please look at a longer-term chart of the data in question. Home sales are indeed lower versus last month, but cav...Read More | ||
| Home Price Growth is Probably The Last Thing to Worry About These Days | ||
| 2/28/2025 1:36 PM | ||
| The massive spike and subsequent correction in home price appreciation (mid-2020 through early 2023) generated lots of opinions and concerns about the fate of the housing market. Early on, the fear was that prices were rising too high, too quickly. By mid-2022, the fear was that home prices were en route to a crash that could be reminiscent of the ...Read More | ||
| Pending Home Sales Hit Lowest Level Since Records Began in 2001 | ||
| 2/27/2025 2:05 PM | ||
| The National Association of Realtors released its Pending Home Sales Index (PHSI) today, which measures home purchase contracts that have been signed, but not yet closed. The index typically correlates with existing home sales in the following month. While January"s contract signings were only down 4.6% versus December, that was enough for the ind...Read More | ||
| Refi Apps Still Near Best Levels Since October, Despite Larger Decline This Week | ||
| 2/21/2025 1:59 PM | ||
| Per the latest release from the Mortgage Bankers Association (MBA), both refinance and purchase indices decreased this week. In terms of the change from the previous week, it was the biggest drop so far this year, but not remotely as big as last week of 2024. Here is the refi index in terms of week-over-week change: And here is the exact ...Read More | ||
| Building Permits Staying Fairly Calm as Housing Starts Whipsaw | ||
| 2/21/2025 1:30 PM | ||
| The Census Bureau released its New Residential Construction report this week, frequently referred to by its principal component "housing starts" (a term for the start of the first phase of new home construction). In addition to housing starts, the data also logs building permits as well as completions. There"s not always a perfectly linear c...Read More | ||
| Builder Confidence Dropped, But Not Enough to Jump to Conclusions | ||
| 2/21/2025 1:01 PM | ||
| The National Association of Homebuilders (NAHB) along with Wells Fargo released the monthly builder confidence index this week, and it came out much weaker than expected. With tariff and immigration news rapidly evolving, it"s tempting to conclude that any major changes in homebuilder sentiment would be directly related. For instance, if bui...Read More | ||
| Refi Demand at 3 Month High Thanks to Lower Rates | ||
| 2/14/2025 1:47 PM | ||
| In this week"s update on mortgage applications from the Mortgage Bankers Association (MBA), purchases continued a modest retreat but refinance demand improved for the 2nd week in a row. This was just barely enough for the Refi index to hit the highest levels since October 2024. The uptick makes sense in light of the mortgage rate situation last ...Read More | ||
| Refinance Applications Tick Back Up as Rates Play Ball | ||
| 2/5/2025 2:35 PM | ||
| There are two main styles of measurement when it comes to keeping track of mortgage rates: daily and weekly. Sometimes, the differences in methodologies mean that two reputable sources can convey seemingly incongruent conclusions. Other times, both the granular and general data agree. This is one of those times. Whether we"re loo...Read More | ||
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