Weekly Housing Headlines

For the third straight week, mortgage rates fell; mortgage applications increased by 11 percent, while application payments decreased by 3.9 percent; pending home sales inched up 0.6 percent; home prices continue to reach all-time highs, although they have begun to decelerate on a monthly basis; and with lower rates and more inventory, the market is hoping for an upswing during what is considered the best time of the year to buy a home.

Mortgage Rates Fall For Third Week To Lowest In Two Years
Financial Advisor - 9/26/2024
Borrowing costs have fallen in five of the past six weeks, spurring more buyers to jump in from the sidelines.

Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - 9/25/2024
Mortgage applications increased 11.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending September 20, 2024.

Mortgage Application Payments Decreased 3.9 Percent to $2,057 in August
Mortgage Bankers Association - 9/26/2024
Homebuyer affordability conditions improved for the fourth consecutive month, with lower mortgage rates, rising incomes and slower home-price growth giving prospective buyers’ budgets a much-needed boost.

Weekly Housing Trends View — Data for Week Ending Sept. 21, 2024
Realtor.com - 9/26/2024
After last week’s Fed rate cut, another week of falling mortgage rates, and continued improvement in housing inventory, the market is abuzz, just in time for the Best Time to Buy.

NAR: Pending Homes Sales Barely Increased in August
MortgageOrb - 9/26/2024
Pending home sales inched up 0.6% in August compared with July but were down 3% compared with August 2023, according to the National Association of Realtors (NAR).

New-Home Sales Dip in August Despite Easing Mortgage Rates and Listing Prices
Realtor.com - 9/25/2024
Despite mortgage rates diminishing throughout the month and new-construction activity picking up, buyers purchased newly built homes at a slower pace in August than they did in July.

Record-High Home Prices Continue On S&P CoreLogic Case-Shiller's July Home Price Indices
National Mortgage Professional - 9/24/2024
Home prices continued to reach all-time highs in the S&P CoreLogic Case-Shiller Indices for July 2024, though they have begun to decelerate on a monthly basis.

Mortgage forbearance requests increase as labor market softens
Mortgage Professional America - 9/24/2024
The Mortgage Bankers Association reported that the total percentage of mortgage loans in forbearance increased to 0.31% by the end of August, up from 0.27% in July.

It’s not a great fall housing market, but this is ‘as good as it gets,’ economist says
CNBC - 9/25/2024
Lower mortgage rates make monthly mortgage payments more affordable. In some places, cheaper than rent, per a Zillow analysis.

Despite Lower Mortgage Rates, Buyers Won't Bite
National Mortgage Professional - 9/25/2024
Redfin's latest report found that housing activity has been moving at a snail's pace for the past five months.