Housing Wire
DECEMBER 14, 2023
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.
Housing Wire
JANUARY 26, 2024
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. in 2025 to reach $405,200.
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Housing Wire
SEPTEMBER 22, 2023
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. 17, total active listings were at 806,701, down 16.2% New listings are down 6.7%
Housing Wire
MARCH 25, 2024
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 longer mortgage rates stay higher, the more inventory will grow closer to the old levels. A year with 5.5
Housing Wire
MARCH 18, 2024
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. 1 and as of today, March 18, mortgage rates are 30-40 basis points higher than Jan. This week in 2022 was the last of the 3% mortgages.
Housing Wire
JULY 17, 2023
In the fall of 2022 after mortgage rates jumped to 7.5%, I thought maybe we’d missed the soft landing call. Buyers are very sensitive, so if inflation reheats, unemployment spikes and mortgage rates jump again, then the economy fails at its soft landing and craters hard. We could see inventory from distressed sellers emerge in 2025.
Will Springer Realtor
FEBRUARY 13, 2024
And, despite the rise in new listings, the number of homes still on the market on Feb. The figures were promising from the single-family-home category as well, with new listings jumping 129% (1335) from December in King and up a negligible 0.5% fewer listings than December and 28% below January 2023 figures.
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