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Mortgage rates helped by the Fed’s moderate stance

Housing Wire

Mortgage rates had a chance to break to new highs this year, but the Federal Reserve took a moderate tone at the last Fed meeting. We saw the benefit of lower mortgage rates with the last two existing home sales reports, which showed growth. Then mortgage rates rose, facilitating five weeks of negative purchase application data.

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Will mortgage rates keep heading lower? 

Housing Wire

We survived jobs week and Federal Reserve Chairman Jerome Powell talking to Congress, with mortgage rates ending the week below 7%. But will mortgage rates keep heading lower? Mortgage rates and the 10-year yield The 10-year yield is the key for all my housing work, so I focus on it religiously. We haven’t broken either yet.

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Housing inventory defied all predictions in 2023

Housing Wire

Looking back on 2023, the inventory story was a big surprise even as mortgage rates headed toward 8%, as the data below will show. This didn’t happen once in 2023 — even with rising mortgage rates. What we want to see in 2024 is new listing data growing in the spring season. Weekly inventory change (Dec.

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Housing Market Tracker: Inventory finally rises

Housing Wire

We didn’t see too much volatility in mortgage rates last week, but purchase apps declined in reaction to rates rising two weeks ago. Here’s a quick rundown of the last week: Active listings rose by 8,546 , and new listing data showed some growth. Again, I am a bit mindful here due to Easter.

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Lower mortgage rates are stabilizing the housing market

Housing Wire

Since the weaker CPI data was released in November, bond yields and mortgage rates have been heading lower. The question then was: What would lower mortgage rates do to this data? However, mortgage rates have fallen more than 1% since the recent highs, so it’s time to look at the data to explain how to interpret it.

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Homebuyers increasingly seek ARMs as mortgage rates soar 

Housing Wire

Mortgage rates have more than doubled from the beginning of the year and homebuyers facing affordability challenges are increasingly turning to adjustable-rate mortgages (ARMs) to reduce their monthly payments. The Freddie Mac’s index compiles purchase mortgage rates reported by lenders during the past three days.

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Housing inventory falls under 1M again as sales collapse

Housing Wire

The one period where this didn’t happen was from 2006-2011, when credit forced Americans to sell, to rent or to be homeless. From NAR : “December was another difficult month for buyers, who continue to face limited inventory and high mortgage rates ,” said NAR Chief Economist Lawrence Yun.

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