Builder sentiment in the single-family housing market posted an unexpected gain in January, rising for the first time in 12 straight months. Economists had predicted a slight decline.Sentiment rose 4 points to 35 on the National Association of Home Builders/Wells Fargo Housing Market Index. Anything below 50 is still considered negative sentiment. The metric stood at 83 in January 2022.“It appears the low point for builder sentiment in this cyc
Mortgage applications rose 27.9% in the latest week, the Mortgage Bankers Association said As mortgage rates dropped across the board, demand for both purchases and refinancing increased. That pushed the market composite index up, a measure of mortgage application volume, the Mortgage Bankers Association (MBA) said on Wednesday. The market index rose to 238.7 for the week ending Jan. 13, up 27.9% from a week earlier. A year ago, the index st
After 2 months of declines, mortgage rates are now at their lowest level since September with potential to spur spring homebuying: MBA economist Two months of declining mortgage rates have finally got the attention of homebuyers, with demand for purchase loans jumping 25 percent last week as rates continued to descend toward 6 percent, according to a weekly survey of lenders by the Mortgage Bankers Association.“Mortgage application activity reb
Ensure your home makes the right kind of first impression with these expert approved tips for organizing a small entrywayNormally a dumping ground for coats, shoes, and kids’ school bags, an entryway, particularly a small one, can be a nightmare to keep neat and tidy. This can make day-to-day life much harder than it needs to be and doesn’t make for the warmest welcome, either. It’s a clutter hotspot that needs organizing, and quickly,
Rents jumped nationwide over the past year, but these big U.S. cities remain comparatively affordable for apartment dwellers.Not that it's easy. The housing market might be cooling off a bit these days, but average home prices are still substantially higher than they were a year ago. Rents have risen too, and only at a slightly slower pace. Put it all together and the perennial question of renting vs. buying(opens in new tab) is as pressi
Mortgage rates are likely to hover in the 6% to 7% range as market volatility continues, economist says Mortgage rates dropped back down again last week and even though it was slight, the decrease had an impact on homebuyer demand, according to Freddie Mac.The average rate for a 30-year fixed-rate mortgage fell to 6.33% for the week ending Jan. 12, according to Freddie Mac's Primary Mortgage Market Survey. This was a decrease from the p
Honoring Martin Luther King, Jr. and the civil rights movement... I have a dream.
A dip below 6% has become a distinct possibility, says NAR Chief Economist Lawrence Yun.Inflation has been dropping over the past six months, and consumers can expect mortgage rates to soon follow, says Lawrence Yun, chief economist for the National Association of REALTORS®. The 30-year fixed-rate mortgage could even drop below 6%, Yun adds. That would be welcome news to home buyers who were shell-shocked by the surge in rates above 7% this fall
After rising at the end of the year, mortgage rates dropped sharply last week. That drove demand from current homeowners hoping to save on their monthly payments, but it did little to excite potential homebuyers.As a result, total mortgage application volume rose just 1.2% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.The average contract interest rate for 30-year fixed-rate
The once-frantic pace of consumer price growth has been slowing for months, which may bode well for buyers' budgets — and financing, according to new data from Bureau of Labor StatisticsInflation continued to decelerate from its once-worrying heights to close the year, with prices actually dropping slightly in December.Consumer price growth cooled to a 6.5 percent annual increase last month, down from the 9.1 percent year-over-year gr
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
