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This week, the Federal Reserve announced a half-point rate cut; mortgage rates continue to drop and housing starts are increasing; housing payments posted the biggest decline in four years; mortgage applications increased 4.4 percent; 2024 will close with the slowest pace of sales since 1995; and there’s a growing sense of optimism as we’re closing in on what is considered to be the best time of year to purchase a home (Sept. 29-Oct. 5).

The Fed just announced a jumbo-sized interest rate cut
CNN Business - 9/18/2024
The Federal Reserve slashed interest rates aggressively Wednesday, announcing the first rate cut since March 2020. The half-point move paves the way for lower borrowing costs on everything from mortgages to credit cards.

Mortgage rates drop to lowest since early February 2023 after Fed’s jumbo interest rate cut
CNN Business - 9/19/2024
Mortgage rates continued to decline this week, taking a little more pressure off America’s tight housing market as the Federal Reserve ramps up its efforts to keep the economy on an even keel.

Weekly Housing Trends View — Data for Week Ending Sept. 14, 2024
Realtor.com - 9/19/2024
As mortgage rates decline, prices drop, and inventories grow a sense of optimism is emerging this fall. With the "best time to buy" just weeks away, there are excellent opportunities for homebuyers before the end of 2024.

August New Home Purchase Mortgage Applications Increased 4.4 Percent
Mortgage Bankers Association - 9/17/2024
Applications for new home purchases continue to show year-over-year growth, increasing by more than four percent and extending the annual growth streak to 19 consecutive months.

Redfin Reports Housing Payments Post Biggest Decline in 4 Years Ahead of Fed's Historic Rate Cut, Which Could Lure Buyers Off the Sidelines
Redfin - 9/19/2024
The median U.S. housing payment was $2,534 during the four weeks ending September 15, down 2.7% from a year earlier–the biggest decline since May 2020, according to a new report from Redfin.

U.S. Housing Starts Increase To Fastest Pace Since April
Financial Advisor - 9/18/2024
Beginning home construction increased 9.6% last month to a 1.36 million annualized rate, the fastest since April, according to government figures released Wednesday.

Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - 9/18/2024
Mortgage applications increased 14.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending September 13, 2024.

Existing-Home Sales Fell Again in August, Despite Declining Mortgage Rates
MortgageOrb - 9/19/2024
Existing-home sales fell 2.5% in August compared with July to a seasonally adjusted annual rate of 3.86 million, according to the National Association of Realtors.

Home Prices See Largest Increase In Four Months
National Mortgage Professional - 9/18/2024
U.S. home prices grew by 0.5% in August on a seasonally adjusted basis, making the highest monthly jump since April. On an annual basis, prices rose by 6.7% – the lowest annual increase since January.

2024 set to mark 30-year low for existing home sales: Fannie Mae
Mortgage Professional America - 9/18/2024
Even as mortgage rates fall and housing supply grows in some regions, 2024 will close with the slowest pace of sales since 1995, according to Fannie Mae’s Economic and Strategic Research Group.

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.

Mortgage applications increased 1.6 percent this week; buyers remain in wait-and-see mode as lower prices, an increase in listings and longer times on the market are giving them more time to weigh their options; a new survey shows that 50% of prospective homebuyers can’t afford the basic costs of homeownership; and mortgage rates continue to hold steady.

Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - 9/4/2024
Mortgage applications increased 1.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending August 30, 2024.

Weekly Housing Trends View — Data for Week Ending Aug. 31, 2024
Realtor.com - 9/5/2024
Lower prices, an increase in listings and longer time on the market are giving buyers more time and flexibility to consider their options, setting the stage for a favorable fall.

Fewer people are purchasing homes, despite high demand — buyers are in ‘wait and see’ mode
CNBC - 8/30/2024
Among buyers who can afford a home, many are likely waiting until mortgage rates decline further later this year, as is widely expected.

Half Of Prospective Homebuyers Cannot Afford Basic Home Costs
National Mortgage Professional - 9/5/2024
A new survey reveals that nearly 50% of prospective home buyers are grappling with the affordability of basic home costs, with home insurance emerging as a significant factor influencing their relocation decisions.

Mortgage Rates In The U.S. Hold At The Lowest Level Since May 2023
Financial Advisor - 9/5/2024
Mortgage rates in the U.S. held steady, giving home buyers a crack at the lowest loan costs since May 2023. The average for a 30-year, fixed loan was 6.35%, the same as last week, Freddie Mac said in a statement Thursday.

How Gen Z outpaces past generations in the homeownership race
CNBC - 9/5/2024
In 2023, the homeownership rate for adult Gen Zers, or those between 19 and 26 years old, was higher than the homeownership rate for millennials and Gen X when they were 24, according to Redfin, a real estate company.

Where Are Home Prices Heading Over the Next 24 Months?
MortgagePoint - 9/5/2024
The latest Fannie Mae Home Price Expectations Survey finds that following home price growth of 6.0% in 2023, an annual national home price growth of 4.7% is forecast for the remainder of 2024, followed by 3.1% in 2025.

Single-Family Home Construction Up Across U.S.
National Mortgage Professional - 9/3/2024
The construction of single-family homes was up nationwide in the second quarter of 2024, driven by low inventory and pent-up demand.

How affordable are homes in America?
Mortgage Professional America - 9/4/2024
August brought a much-needed break for prospective homebuyers, with mortgage rates dipping and home prices cooling, according to the latest ICE Mortgage Monitor Report.

Private Residential Construction Spending Inches Down in July
Eye On Housing - 9/3/2024
Private residential construction spending fell 0.4% in July, according to the Census Construction Spending data. Nevertheless, spending remained 7.7% higher compared to a year ago.

This week’s data shows home prices hit a record high in June; contract signings fell 5.5% last month; starter home sales surged 10.2% in July, as buyers took advantage of the recent rate drop; delinquencies and mortgage application payments both decreased; and home prices are still slightly down, while inventory is well above last year’s level and new listing activity picked up year over year as well.

Home prices hit record high in June on S&P Case-Shiller Index
CNBC - 8/27/2024
On a three-month running average ending in June, prices nationally were 5.4% higher than they were in June 2023, according to data released Tuesday.

Pending Home Sales Gauge Drops To Lowest On Record
Financial Advisor - 8/29/2024
A National Association of Realtors index of contract signings fell 5.5% to 70.2 last month, the lowest in data back to 2001, the group said Thursday.

Weekly Housing Trends View — Data for Week Ending Aug. 24, 2024
Realtor.com - 8/29/2024
Home prices are still down slightly year over year, but by less than last week. Active inventory is still well above last year’s level, and new listing activity picked up year over year as well.

Mortgage Application Payments Decreased 1.3 Percent to $2,140 in July
Mortgage Bankers Association - 8/29/2024
Homebuyer affordability conditions improved for the third consecutive month as rates below 7 percent and rising housing inventory continue to bode well for prospective homebuyers.

Starter home sales surge as buyers take advantage of rate drops – Redfin
Mortgage Professional America - 8/27/2024
Pending sales of these entry-level homes jumped 10.2% year over year in July, reaching their highest level since October 2022.

Delinquencies Jumped And New Credit Growth Stalled In July
National Mortgage Professional - 8/27/2024
Through the end of July, both consumers and lenders shifted to a more cautious credit posture, per VantageScore's July 2024 CreditGauge, a monthly analysis highlighting the overall health of U.S. consumer credit.

Those Just Starting Out Can't Afford A Starter Home
National Mortgage Professional - 8/29/2024
The typical starter home sold for a record $250,000 in July, up 4.2% year over year. This translates into a monthly housing payment of $1,981, up 4.4% from a year earlier, according to a new report by Redfin.

Redfin Reports 6 of Every 7 People With Mortgages Have an Interest Rate Below 6%
Redfin - 8/27/2024
Nationwide, 85.7% of U.S. homeowners with mortgages have an interest rate below 6%, down from 90.6% at the start of last year and a record high of 92.8% in mid-2022.

Loan Amounts Rise, Loan Counts Fall In Second Quarter
National Mortgage Professional - 8/26/2024
Loan volumes fell, median monthly incomes rose and alternative loan products increased market share in Q2, according to new data published by Maxwell, a mortgage advisory and technology solutions provider.

First American: Home Affordability Improved Slightly in July
Mortgage Professional America - 8/26/2024
Home affordability improved slightly in July – but not enough to improve homebuyer sentiment, according to the latest Real House Price Index report from First American.

This week, mortgage rates dropped to a 2024 low; home sales rose in July for the first time in five months; mortgage applications decreased 10.1 percent; the national mortgage delinquency rate fell by 12 basis points to 3.37% in July; and things are shaping up for a buyer-friendly end of summer with home prices slightly down year over year and more homes on the market than there were at this time in 2023.

U.S. Mortgage Rates Drop To A 2024 Low As Buyers Await Fed Cuts
Financial Advisor - 8/22/2024
Mortgage rates in the U.S. resumed their downward path, dropping to a new low for the year. The average for a 30-year, fixed loan was 6.46%, down from 6.49% last week, Freddie Mac said in a statement Thursday.

Home sales rose in July for the first time in five months
CNBC - 8/22/2024
Closed sales of previously owned homes rose 1.3% in July compared with June to a seasonally adjusted, annualized rate of 3.95 million units, according to the National Association of Realtors. That was the first gain in five months.

Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage Bankers Association - 8/21/2024
Mortgage applications decreased 10.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending August 16, 2024.

Weekly Housing Trends View — Data for Week Ending Aug. 17, 2024
Realtor.com - 8/22/2024
Things are shaping up for a buyer-friendly end of summer. Home prices are down slightly year over year, with considerably more homes on the market than there were at this time in 2023.

Abandoned Homes In Foreclosure Down 20% Annually
National Mortgage Professional - 8/22/2024
ATTOM attributes the decline in foreclosure rates and the low number of zombie foreclosures to high homeowner equity.

National mortgage delinquency rate improves
Mortgage Professional America - 8/22/2024
The national mortgage delinquency rate fell by 12 basis points to 3.37% in July, showing improvement after a calendar-driven rise in June, according to the latest data from Intercontinental Exchange, Inc.

Fannie Mae Lowers Home Sales Forecast
National Mortgage Professional - 8/21/2024
Fannie Mae has downgraded its 2024-2025 home sales and mortgage origination forecasts, raised its 2024 GDP growth outlook and cautioned about increased recession risks due to rising unemployment.

Why a Growing Number of Homeowners Choose To Forgo Home Insurance — and the Nail-Biting Gamble They Face
Realtor.com - 8/21/2024
A 2024 Consumer Federation of America study found that around 6 million homeowners — or 7.4% of the homeowner population in the U.S. — have no homeowners insurance, up from 5% in 2019.

First American: House Price Appreciation Changes Rent-Versus-Own Dynamic
National Mortgage Professional - 8/19/2024
Renting was cheaper in 48 of the top-50 markets in Q2 2024, but only 29 states when accounting for home equity gains.

Redfin Reports Existing Home Sales Rose 0.6% Last Month, But Were At the Lowest July Level on Record
Redfin - 8/19/2024
Sales of existing homes rose 0.6% month over month in July, but fell 2% year over year to a seasonally adjusted annual rate of 4,094,991. That’s the lowest July level in records dating back to 2012.

This week, mortgage applications increased 16.8 percent; homeowners are rushing to refinance now that rates have dropped; 90% of metro areas experienced home price gains in the second quarter; delinquencies also increased in Q2 and research shows that the housing market is moving in a more buyer-friendly direction as new listings are back up, inventory continues to grow, time on the market is stretching and listing prices continue to stall.

Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - 8/14/2024
Mortgage applications increased 16.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending August 9, 2024.

Homeowners are rushing to refinance their mortgages after rates finally dropped
CNN Business - 8/15/2024
The 30-year fixed-rate mortgage averaged 6.49% this week. That’s still well below this year’s peak and the two-decade high last fall, but it appears to be enough to entice homeowners to refinance.

National Housing & Economic Forecast 2024 Midyear Update: Long-Awaited Mortgage Rate Relief Finally Arrives
Realtor.com - 8/14/2024
The next six months should bring some welcome relief to homebuyers and sellers in the form of lower mortgage rates, according to the Realtor.com midyear housing forecast for 2024.

Weekly Housing Trends View — Data for Week Ending August 10, 2024
Realtor.com - 8/15/2024
The housing market continued to move toward a more buyer-friendly direction. In addition to mortgage rate relief, inventory continues to increase, time on the market continues to lengthen and listing prices are stalling.

Mortgage Delinquencies Increase in the Second Quarter of 2024
Mortgage Bankers Association - 8/15/2024
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.97 percent of all loans outstanding at the end of the second quarter of 2024.

Competition, Price Appreciation Tapered Off In July
National Mortgage Professional - 8/15/2024
Competition for homes and price appreciation tapered off faster than normal in July as high housing costs continued to stymie shoppers, according to recent data from Zillow.

Home prices surge across U.S. cities
Mortgage Professional America - 8/14/2024
The U.S. housing market saw nearly 90% of metro areas experiencing home price gains in the second quarter of 2024, according to the latest report from the National Association of Realtors.

Experts Predict What the Real Estate Market Will Look Like Once Mortgage Rates Drop
Realtor.com - 8/13/2024
Realtor.com senior economist Ralph McLaughlin expects mortgage rates to drop further in September and December, which is “encouraging news for potential homebuyers who have been waiting to participate in the market.”

Home Prices In Silicon Valley Area Top $2 Million For First Time
Financial Advisor - 8/13/2024
The median home price in San Jose topped $2 million in the second quarter, the first time a U.S. metropolitan area has exceeded that threshold and a symptom of the nation’s persistent affordability challenge.

July Refinance Activity, Rate Lock Volume See Increases
National Mortgage Professional - 8/12/2024
Mortgage refinance demand increased to levels not seen since September 2022 amid softening interest rates, as reported by Optimal Blue in its July 2024 Market Advantage mortgage data report.

This week, mortgage rates decreased to their lowest level in a year; mortgage applications and credit availability increased; home appreciation slowed significantly; more Americans are tapping into home equity credit lines; and research shows that new listings are back up, inventory continues to grow, time on market is stretching and listing prices continue to stall.

Mortgage Rates Decrease To Lowest Level In Over A Year
National Mortgage Professional - 8/8/2024
Freddie Mac today released the results of its Primary Mortgage Market Survey, showing the 30-year fixed-rate mortgage averaged 6.47%, down from last week's 6.73%. Today's rates mark the lowest level in a year.

Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - 8/7/2024
Mortgage applications increased 6.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending August 2, 2024.

Weekly Housing Trends View — Data for Week Ending August 3, 2024
Realtor.com - 8/8/2024
New listings are back up, inventory continues to grow, time on market is stretching and listing prices continue to stall.

Mortgage Credit Availability Increased in July
Mortgage Bankers Association - 8/8/2024
Overall credit availability grew to its highest level since October 2023, driven by increased conventional loan offerings such as ARMs and cash-out refinance loans.

CoreLogic: Home Price Appreciation Slowed Significantly in June
MortgageOrb - 8/6/2024
Month-over-month, home prices increased 0.3% compared with May, and were up only 4.7% year-over-year.

More Americans Are Tapping Home Equity Credit Lines, N.Y. Fed Says
Financial Advisor - 8/6/2024
Balances on home equity lines of credit rose to $380 billion, representing the ninth consecutive increase, according to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit.

Fannie Mae HPSI Shows Signs Of Souring Consumer Sentiment
National Mortgage Professional - 8/7/2024
The July 2024 Home Purchase Sentiment Index decreased by 1.1 points in July to 71.5. This month, only 17% of consumers indicated that it's a good time to buy a home, down from 19% in June.

The housing market just reached an incredible milestone
CNN Business - 8/8/2024
The total value of the housing market now exceeds $1 trillion in eight U.S. cities, doubling from just four cities last year and underscoring just how much home prices have skyrocketed in a relatively short time, according to Redfin.

Mortgage Lock-Ins Cost U.S. Economy $20 Billion In One Year
Financial Advisor - 8/8/2024
Mortgage-rate lock-ins cost the U.S. economy $20 billion over a one-year period starting in 2022, according to the National Bureau of Economic Research. That tallies to some $296 of economic cost per household.

A $1 Trillion Time Bomb Is Ticking In The Housing Market
Financial Advisor - 8/2/2024
U.S. homeowners’ wildfire and flood risks are underinsured by $28.7 billion a year. As a result, more than 17 million homes are at risk of suffering what could total $1.2 trillion in value destruction.

This week, housing inventory surged by 36.6 percent; home equity improved after three quarterly declines; mortgage applications decreased; home sales rose 4.8 percent in June; U.S. home prices hit their highest level in history in May; homeownership for people under the age of 35 decreased to 37.4 percent in the second quarter and housing affordability appears to be moving in the right direction.

Housing Inventory Surges to Post-Pandemic High in July
The Mortgage Reports - 8/1/2024
While the supply of for-sale homes still lags pre-pandemic totals, signals point to a recovery underway. The count of active listings spiked 36.6% annually in July, according to Realtor.com.

Homeowner equity turns corner after three quarterly declines
Mortgage Professional America - 8/1/2024
A report from ATTOM found that 49.2% of mortgaged homes in the U.S. were considered “equity-rich” in the second quarter, meaning homeowners had at least twice the equity of their mortgage balance.

Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage Bankers Association - 7/31/2024
Mortgage applications decreased 3.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending July 26, 2024.

Weekly Housing Trends View — Data for Week Ending July 27, 2024
Realtor.com - 8/1/2024
The housing market is showing subtle signs of change this week, with new listings falling, total inventory growing and homes spending longer on the market.

Pending Home Sales Rose 4.8% in June
National Association Of Realtors - 7/31/2024
Pending home sales in June ascended 4.8%, according to the National Association of Realtors. All four U.S. regions posted monthly gains in transactions.

Case-Shiller: U.S. Home Prices Hit Highest Level in History in May
MortgageOrb - 7/30/2024
U.S. home prices continued to shatter records in May, rising 0.3% on a seasonally adjusted basis compared with April to reach the highest level in history, according to the S&P CoreLogic Case-Shiller home price index.

Housing Affordability Improves In June, Lags Year Over Year
National Mortgage Professional - 7/30/2024
First American Data & Analytics House Price Index indicated that although affordability improved on a monthly basis, it declined roughly 4% annually.

Home Equity Lending Volume Stays Relatively Flat in 2023, Debt Outstanding Increases
Mortgage Bankers Association - 7/29/2024
Total originations of open-ended Home Equity Lines of Credit and closed-end home equity loans increased in 2023 by 1.5 percent compared to the previous year, while debt outstandings increased 8.3 percent.

Lowest Homeownership Rate for Younger Householders in Four Years
Eye On Housing - 7/31/2024
The homeownership rate for the head of households (householders) under the age of 35 decreased to 37.4% in the second quarter of 2024, according to the Census’s Housing Vacancies and Homeownership Survey.

Housing affordability is ‘moving in the right direction,’ economist says. Here’s what to know
CNBC - 7/30/2024
Home affordability has slightly improved for buyers this summer, according to a recent report.

The housing market remained stable this week, although affordability remains a problem; mortgage applications decreased; existing home sales slipped 5.4 percent; housing inventory continues to grow, although nearly two-thirds of homes on the market had been listed for at least 30 days without going under contract; 56,000 home purchases were canceled last month and home price growth is slowing but expected to moderate.

Weekly Housing Trends View — Data for Week Ending July 20, 2024
Realtor.com - 7/25/2024
The housing market has been stable in recent weeks, with pricing flat, listings increasing and longer time on market. However, affordability continues to pose challenges to home buyers, leading existing-home sales to slip in June.

Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage Bankers Association - 7/24/2024
Mortgage applications decreased 2.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending July 19, 2024.

Existing-Home Sales Slipped 5.4% in June; Median Sales Price Jumps to Record High of $426,900
National Association of Realtors - 7/23/2024
Existing-home sales fell in June as the median sales price climbed to the highest price ever recorded for the second consecutive month, according to the National Association of Realtors.

New home sales dip in June; Buyers wait for lower rates
Realtor.com - 7/24/2024
New home sales dipped 0.6% lower in June, dropping from May’s upwardly revised rate to 617,000 annual new home sales.

Report: Houses Gathering Dust On Market As Unsold Inventory Grows
MortgagePoint - 7/24/2024
Nearly two-thirds (64.7%) of homes on the market in June had been listed for at least 30 days without going under contract, according to a new report from Redfin.

Mortgage Application Payments Decreased 2.4 Percent to $2,167 in June
Mortgage Bankers Association - 7/25/2024
Homebuyer affordability conditions improved for the second straight month as declining mortgage rates continue to increase purchasing power and is enticing some borrowers back into the housing market.

Home Price Growth Expected To Moderate
National Mortgage Professional - 7/23/2024
Fannie Mae and Redfin both forecast home price growth slowing in latest reports.

Home Deals Fell Apart At A Record Rate For June, Redfin Says
Financial Advisor - 7/23/2024
Nearly 56,000 home purchases were canceled last month, equal to about 15% of all homes that went under contract that month, Redfin Corp. reported Tuesday.

The worst may be over for homebuyers
CNN Business - 7/23/2024
Americans have been feeling overwhelmingly dejected about their prospects of buying a home. But there are now signs that maybe, just maybe, the worst could be over for homebuyers.

Some renters may be ‘mortgage-ready’ and not know it. Here’s how to tell
CNBC - 7/18/2024
Millions of renter households in 2022 would have been able to buy a house that year, according to a new analysis by Zillow.

This week saw an increase in mortgage applications; national house price growth slowed for the sixth consecutive month; foreclosure filings decreased in Q1; home prices show signs of slowing down; the market remains in a holding pattern and builder confidence has fallen slightly.

June New Home Purchase Mortgage Applications Increased 0.7 Percent
Mortgage Bankers Association - 7/18/2024
Applications for new home purchases slowed in June, consistent with broader declines in single-family construction and new building permits as well as typical seasonal patterns.

National House Price Growth Slows For Sixth Consecutive Month
National Mortgage Professional - 7/16/2024
House prices nationally are now 54.7% higher compared to pre-pandemic levels, according to the June 2024 Home Price Index report from First American Data & Analytics.

Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - 7/17/2024
Mortgage applications increased 3.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending July 12, 2024.

Weekly Housing Trends View — Data for Week Ending July 13, 2024
Realtor.com - 7/18/2024
This week’s data revealed a housing market in a holding pattern with no price growth, a slower market and more price reductions.

ATTOM: Foreclosure Filings Decreased in the First Half
MortgageOrb - 7/12/2024
A total of 177,431 U.S. properties saw foreclosure filings — default notices, scheduled auctions or bank repossessions — in the first six months of 2024, according to ATTOM.

Fannie Mae: Home Prices Show Signs Of Slowing
National Mortgage Professional - 7/18/2024
Single-family home prices saw a year-over-year increase of 6.9% in Q2 2024, per Fannie's latest Home Price Index.

Single-Family Starts Weaken in June
Eye On Housing - 7/17/2024
Overall housing starts increased 3.0% in June to a seasonally adjusted annual rate of 1.35 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

U.S. Home Appraisals Were Higher Than Sale Prices 51 Percent of the Time in First Half
MortgageOrb - 7/16/2024
The gap between appraisals and sale prices is the highest that it has been since the start of the pandemic in 2020, according to a report from Corporate Settlement Solutions.

The housing market, explained in 6 charts
CNBC - 7/13/2024
The housing market looks far different than it did when the pandemic was just starting. These charts help explain why.

Builder Confidence Falls Slightly in July
National Mortgage Professional - 7/17/2024
Builder confidence in the market for newly built single-family homes was 42 in July, down one point from June, according to the National Association of Home Builders/Wells Fargo Housing Market Index.