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Housing Market Tracker: Banking crisis is a new variable

Housing Wire

The housing market was crazy again last week. Mortgage rates fell as the banking crisis got worse and purchase application data grew for the second week in a row, but the big question is: Did we hit the seasonal bottom in housing inventory? This assumes the spreads are wide as the mortgage-back securities market is still very stressed.

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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. In a regular market, they would be closer to 5.25%.

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HousingWire debuts Housing Market Tracker

Housing Wire

Starting this week, I will analyze weekly data in a Housing Market Tracker article every Monday to provide a status update on the U.S. housing market and economy. The housing market is one sector that can turn positive or negative very quickly depending on mortgage rates or one-time shocks like we saw with COVID-19.

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Housing Market Tracker: Inventory falls again

Housing Wire

The housing market has been wild the last few years, making weekly data more critical. This is why I’ve created the Housing Market Tracker — a weekly analysis of purchase apps, housing inventory and mortgage rates that will be published every Monday. The 10-year yield shows where mortgage rates will go.

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Housing Market Tracker: Purchase apps surprise

Housing Wire

Mortgage rates were near 7% last week but purchase applications were still able to pull out an 8% week-to-week gain. Purchase apps were coming off a four-week losing streak and even though those were mild week-to-week declines, it was still four weeks of weakness. 9, 2022 , this data has been forming a bottom-end range.

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What are Millennial Homebuyers Looking For?

Raleigh Realty

The only live event that ranked higher was retirement, at 80. It is not uncommon for millennials to move back in with their parents after college to save money and pay off part of their student loan debt. Therefore, they typically take less time to decide on a property when compared to prior generations.

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Here’s why new home sales are up along with prices

Housing Wire

My job is always to be the detective, not the troll so let’s take a look at today’s data, as there is a constant theme here that I have talked about for some time. While the actual sales trends can be more downward than the report shows, it’s not off by a significant amount. months , this is an OK market for the builders.