Remove articles heres-why-the-housing-market-needs-higher-mortgage-rates
article thumbnail

Housing inventory fell last week, but it won’t derail the spring bump

Housing Wire

Weekly housing inventory data — both active inventory and new listings — are prone to one-week moves that deviate from a trend, especially if people are going Easter egg hunting. But, despite the weekly moves, the one bright spot for housing is that housing inventory is growing on a year-over-year basis.

Inventory 427
article thumbnail

Why home prices haven’t crashed even with high mortgage rates

Housing Wire

The most underreported housing story I’ve seen this year is that even with mortgage rates rising to 8%, the number of homes that took price cuts before they sold was 4% below 2022 levels. This happened even with higher home prices and higher mortgage rates in 2023. Weekly inventory change (Dec.

Mortgage 519
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Solid jobs report sends mortgage rates lower

Housing Wire

Mortgage rates fell aggressively down to 6.20%, putting us at more than 1% below the highs of 2022. The bond market saw that wage growth was cooling down, leaving the Federal Reserve with few reasons to keep the rate hike story going much longer. And now, the growth rate of inflation is falling. Job report.

Mortgage 525
article thumbnail

Three trends to watch in 2023

Housing Wire

This article is part of our Housing 2022-23 forecast series. Bringing together some of the top economists and researchers in housing, the event will provide an in-depth look at the top predictions for this year, along with a roundtable discussion on how these insights apply to your business.

Buyers 467
article thumbnail

The savagely unhealthy housing market is now a nightmare

Housing Wire

The housing nightmare continues. Now that we are almost in July, we can safely say the premise that once mortgage rates hit 4%, the mass panic selling of American homeowners who need to get out at all costs, driving total inventory up in the millions, hasn’t happened. The only way this happens is higher rates.

article thumbnail

Is inflation or recession driving mortgage rates now?

Housing Wire

Even with its most significant component, shelter inflation, keeping core CPI higher than it should be, it’s been hard to accelerate the core data. To even have something remotely close to 1970s inflation, you need a massive housing boom. As you can see below, rent inflation took off in the 1970s. percent in January, the U.S.

Mortgage 359
article thumbnail

Housing Market Tracker: Banking crisis is a new variable

Housing Wire

The housing market was crazy again last week. Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did we hit the seasonal bottom in housing inventory? This bond market is screaming at the Fed to cut rates.