Housing Headlines

This week, mortgage rates fell to their lowest level since February 2023; both mortgage applications and credit availability increased; refinancing is beginning to pick up as originations doubled in August, accounting for 26% of total mortgage loan production; homeowners now have more than $32 trillion in home equity – a record high; and median prices are falling, and listings are increasing.

Mortgage rates fall to lowest level since February 2023
CNN Business - 9/12/2024
Mortgage rates fell this week to the lowest point since February 2023, in a welcome sign for Americans grappling with a tough housing market.

Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - 9/11/2024
Mortgage applications increased 1.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending September 6, 2024.

Refinance Wave Gains Height And Speed In August
National Mortgage Professional - 9/11/2024
Refinance originations more than doubled on a monthly basis to account for 26% of total mortgage loan production in August, according to the latest Optimal Blue Market Advantage Mortgage Data Report.

Americans have more than $32 trillion in home equity — a record high. Here’s what to know before you tap it
CNBC - 9/11/2024
Thanks to the runup in housing prices, homeowners now have more than $32 trillion in home equity as of the first quarter of 2024, according to the St. Louis Federal Reserve — an all-time high.

Mortgage Credit Availability Increased in August
Mortgage Bankers Association - 9/10/2024
Credit availability increased in August, with the conventional credit index reaching its highest level since July 2022. This was driven by increased cash-out refinance and non-QM programs.

Weekly Housing Trends View — Data for Week Ending Sept. 7, 2024
Realtor.com - 9/12/2024
Median prices are falling, listings are increasing and homes are moving significantly slower as buyers take advantage of a more forgiving and flexible market.

Lower Mortgage Rates A Boon For Monthly Payments
National Mortgage Professional - 9/12/2024
High home prices are being partially offset by the lowest housing payments since January — a byproduct of falling mortgage rates.

Home price growth dips below 5% – will buyers return?
Mortgage Professional America - 9/12/2024
Home prices increased by 4.3% year-over-year in July, down from 4.7% in June, signaling a steady decline in price growth as the housing market faces rising mortgage rates and affordability challenges.

Home listings are up more than 60% in some cities. Here’s where
CNBC - 9/6/2024
Nationwide, active listings in August were up 36% compared with the same month last year, according to a new report from Realtor.com. That was the 10th straight month of annual growth.

An Estimated 4M Loans Await Refinancing Once Rates Hit 6%
National Mortgage Professional - 9/10/2024
As mortgage rates tick down and expectations rise for multiple rate cuts by the end of 2024, lenders and originators have begun preparing for another refinance wave.