Housing Wire
NOVEMBER 30, 2023
Pending home sales in October fell to their lowest level since 2001. As mortgage rates edged near multi-decade highs, pending home sales declined 1.5% Meanwhile, new home sales posted a better performance as homebuyers pivoted to new construction amid waning existing home supply. down from 72.6 in September.
Housing Wire
JANUARY 26, 2024
For comparison, the index is benchmarked at a reading of 100 based on 2001 contract activity. The housing market is off to a good start this year, as consumers benefit from falling mortgage rates and stable home prices,” NAR chief economist Lawrence Yun said in a statement. On a year-over-year basis, pending sales were up 1.3%.
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Housing Wire
MAY 31, 2022
Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. The expansion comes amid a surge in mortgage rates and declining loan origination volume.
Housing Wire
AUGUST 10, 2023
The 30-year fixed mortgage rate continued its upward trajectory for the third consecutive week, rising to 6.96%, according to Freddie Mac. Another rate hike in September would move the target federal funds rate to its highest level since March 2001. By contrast, the 30-year fixed-rate mortgage was at 5.22% a year ago at this time.
Housing Wire
APRIL 29, 2021
relates to a baseline of 100 that the NAR put together in 2001. “By By coincidence,” the NAR explained, “The volume of existing homes sales in 2001 fell within the range of 5 to 5.5 An index based on 2001 figures shows historic shifts in population. New residential construction building permits in the U.S. population.”.
Housing Wire
JANUARY 3, 2023
Falling home sales and construction have hurt broader economic activity.”. An index of 100 is equal to the level of contract activity in 2001. Yet, mortgage applications point to a thawing, but still cold, housing market as mortgage rates come down.”. On a month over month basis, all four of the major U.S.
Housing Wire
APRIL 2, 2021
Sectors that were hit hardest by the pandemic led job growth last month, with jumps in leisure, hospitality, public and private education and construction – good signs for the housing industry. The Mortgage Bankers Association expects this heightened pace to drop unemployment numbers to below 5% by the end of the year.
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