Remove Buyers Remove Marketing Remove Mortgage Remove Supply Chain
article thumbnail

DataDigest: Construction costs easing for homebuilders

Housing Wire

However, as mortgage rates hit multi-decade highs , cooling demand and shrinking the pool of qualified buyers for new homes, homebuilders slowed their pace of construction, which settled at a plateau that is still well above pre-pandemic levels. ” However, Basu notes supply chains are already facing new pressures in 2024.

article thumbnail

Mortgage market affordability and inventory challenges

Housing Wire

With a rapid spike in interest rates, inventory at historic lows, home prices rising at unprecedented levels above income, and a purchase market that is both highly anxious and digitally reliant, mortgage and real estate professionals must be strategic to capture the market opportunity today. Inventory rising, historically low.

Inventory 395
Insiders

Sign Up for our Newsletter

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

article thumbnail

Mike Fratantoni on MBA’s 2022 mortgage market forecast

Housing Wire

We’ve had the sharpest and yet also the shortest recession in history, record-low mortgage rates leading to record origination volumes, and record home prices as housing demand far outstripped supply. How will the Federal Reserve respond to economic developments in 2022, and what will be the impact on mortgage rates?

Marketing 454
article thumbnail

Mortgage rates climb as US yields hit highest level since 2008

Housing Wire

Mortgage rates continued to climb this week as U.S. Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.09% as of August 17, up from last week’s 6.96%. Other indices showed even higher mortgage rates.

Mortgage 360
article thumbnail

Mortgage rates grow at fastest pace since 1994

Housing Wire

Purchase mortgage rates have risen faster in the last three months than at any time since May 1994, climbing ever closer to the 5% mark due to a combination of rising inflation , the war in Ukraine, and disruptions to the supply chain. Another index shows mortgage rates even higher. Mortgage rates have increased 1.5

Mortgage 383
article thumbnail

D.R. Horton sees ‘outstanding’ profits despite increased costs, build time

Housing Wire

Horton , the nation’s largest homebuilder by gross revenue and total closings, this week released its second quarter earnings for the fiscal year, which executives deemed “outstanding,” despite ongoing supply chain challenges , “a very tight labor market ,” and the massive uptick in mortgage rates. Horton’s markets.

article thumbnail

Mortgage rates collapse on softer inflation data

Housing Wire

Finally, some good news: the growth rate of inflation is cooling off for now, and with the CPI inflation report being positive, the 10-year yield fell noticeably, and mortgage rates will fall with that! This of course led some people to believe that bond yields and mortgage rates would go much higher today. year-over-year growth.

Mortgage 535