Weekly Housing Headlines

The Federal Reserve cut interest rates by a quarter point on Wednesday; contract closings increased 4.8% to an annualized rate of 4.15 million in November; November mortgage applications to purchase a new home increased 7.2%; mortgage rates decreased for the third straight week; and the past two weeks have brought the highest combined two-week increase in new listings since April.

The Fed just slashed interest rates for the third time this year
CNN Business - 12/18/2024
The Federal Reserve on Wednesday cut interest rates by a quarter point, the third rate cut since it began to lower borrowing costs in September.

U.S. Existing-Home Sales Rise As Buyers Accept High Mortgage Rates
Financial Advisor - 12/19/2024
Contract closings increased 4.8% to an annualized rate of 4.15 million in November, the most since March, according to data released Thursday by the National Association of Realtors.

November New Home Purchase Mortgage Applications Increased 7.2 Percent
Mortgage Bankers Association - 12/17/2024
Applications to purchase newly built homes have seen annual increases since February 2023, as prospective homebuyers continue to favor new homes, given affordability challenges and constrained existing inventory.

Mortgage Rates Notch Down For Third Consecutive Week
National Mortgage Professional - 12/13/2024
The national average 30-year-fixed mortgage rate dropped for the third consecutive week, according to Freddie Mac’s latest Primary Mortgage Market Survey.

Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage Bankers Association - 12/18/2024
Mortgage applications decreased 0.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending December 13, 2024.

Weekly Housing Trends View — Data for Week Ending Dec. 14, 2024
Realtor.com - 12/19/2024
The past two weeks have brought the highest combined two-week increase in new listings since April, reflecting a rising desire of existing home sellers to sell their home and, in many cases, also buy a new one.

Existing Home Sales Rise to Highest Level in Over a Year and a Half
Redfin - 12/18/2024
Existing home sales rose 0.7% month over month in November to a seasonally adjusted annual rate of 4,269,85 — the highest level since March 2023.

Housing Market Predictions: Will Home Prices Drop in 2025?
The Mortgage Reports - 12/17/2024
The pros we polled were asked to give a broad perspective on where the real estate landscape is currently and perhaps where it’s headed next year. Here’s what they had to say.

2024 Housing Market: Key Takeaways and What Lies Ahead
The Mortgage Reports - 12/16/2024
Mortgage rates are projected to decline in 2025, potentially improving affordability for buyers. This is likely to spark greater demand, however, which could keep home prices elevated or even drive them higher.

Mortgage Application Payments Increased 0.3 Percent to $2,133 in November
Mortgage Bankers Association - 12/19/2024
Homebuyer affordability conditions declined slightly in November as elevated mortgage rates and rising home prices impacted prospective buyers’ purchasing power.