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Housing Market Tracker: Mortgage rates and inventory fall together

Housing Wire

The financial and housing markets are still trying to sort out the banking crisis and whether we have seen the last Fed rate hike in this cycle. These events led to lower mortgage rates and increased purchase application data last week, but decreased housing inventory.

Inventory 443
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Wage growth downtrend kills 1970s inflation fear

Housing Wire

Since 2022 — as the labor market has been getting hotter with massive job gains and high job openings — the year-over-year wage growth data has been falling. Let this sink in; while the labor market was booming in 2022 and 2023, the fear of a wage spiral never materialized. percent, the U.S. Some college or associate degree: 3.0%

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Housing Market Tracker: Inventory is negative YOY

Housing Wire

Housing inventory finally broke under 2022 levels last week. We have often discussed that the housing market dynamics changed starting Nov. I recently recapped this crazy period on the HousingWire Daily podcast, going into detail about what happened in housing over the last year.

Inventory 453
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Housing Market Tracker: Mortgage rates over 7%

Housing Wire

Debt-ceiling drama pushed bond yields up last week, taking mortgage rates to a new 2023 high in the middle of the spring home-selling season. Active housing inventory , thankfully, saw some decent growth last week. However, the spreads between the 10-year yield and 30-year mortgage rates have worsened since the banking crisis started.