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A sub-7% mortgage rate brings holiday cheer

Housing Wire

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. on Thursday.

Mortgage 476
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Pending home sales surged in December: NAR

Housing Wire

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. New home sales , another measure of contract signings, rose 8% in December on the back of declining mortgage rates. million and a 15.8%

Contracts 446
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Pending-home sales drop 13% from a year ago as rates stay high: Redfin

Housing Wire

Soaring mortgage rates and home prices are continuing to dampen affordability for homebuyers. 17, according to a new report from Redfin. Combined with elevated mortgage rates, monthly housing payments are at an all-time high. This is pushing many prospective homebuyers to the sidelines until the market becomes healthier.

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How this week’s Fed meeting could impact inventory

Housing Wire

real estate market were for inventory growth, sales growth and home-price growth across the U.S. At the time, I observed that even if mortgage rates stayed flat, the momentum seemed to be in the cards for broad, slow growth in the market. However, mortgage rates didn’t stay flat. They climbed starting Jan. The takeaway?

Inventory 385
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Where are home prices headed this spring?

Housing Wire

So while we can see currently the prices of home sales holding up, the signals for the end of 2024 and into 2025 seem to suggest we’re heading for flat home prices. Mortgage rates seem to have finally settled down. The Fed met last week and we escaped dramatic changes in the markets. April is looking good for home sales growth.

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A soft landing for the real estate market. What’s next?

Housing Wire

housing market could have a soft landing in 2023. The market was roaring — way too hot — with bidding wars, speculators and investors who thought they couldn’t lose. The market was roaring — way too hot — with bidding wars, speculators and investors who thought they couldn’t lose. I grew pretty bearish again. is $450,000.

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Mostly Positive Start to 2024 Housing Activity in Seattle/King County

Will Springer Realtor

The Seattle/King County housing market appears to have come through the worst of times with a slightly stronger showing in January than in previous months. And, despite the rise in new listings, the number of homes still on the market on Feb. Only 1183 single-family homes were on the market in the county on Feb.