If you’re a prospective home buyer who is concerned about affordability levels, the Mortgage Bankers Association has some good news for you. Its monthly Purchase Applications Payment Index – which measures the typical mortgage payment based on loan amounts applied for by borrowers – found mortgage payments fell to start the spring. In fact, the typical payment decreased to $2,173 in March, down from $2,205 the month before. For borrowers applying for lower-payment mortgages, payments fell to $1,499. Edward Seiler, … [Read more...]

The S&P Case-Shiller Home Price Index is among the most closely followed measures of U.S. home prices. It covers all nine census divisions and has been tracking values for nearly three decades. According to the most recent release, home price increases continue to slow. Data through the end of February shows annual gains of 3.9 percent, down from 4.1 percent the previous month. Nicholas Godec, head of fixed income tradeables & commodities at S&P Dow Jones Indices, says growth has slowed but is now more … [Read more...]

In March, pending home sales saw the largest month-over-month increase in almost a year and a half, according to new numbers from the National Association of Realtors. The 6.1 percent gain was the biggest since December 2023 and included improvements in the Midwest, South, and West. Lawrence Yun, NAR’s chief economist, says lower mortgage rates were likely behind the increase. “Home buyers are acutely sensitive to even minor fluctuations in mortgage rates,” Yun said. “While contract signings are not a guarantee of … [Read more...]

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates saw little change last week from the week before. Rates were mostly flat across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, 15-year fixed-rate loans, and 5/1 ARMs. Flat rates weren’t enough to spark mortgage demand, though. Joel Kan, MBA’s vice president and deputy chief economist, says home buyers are feeling … [Read more...]

New home sales represent a relatively small percentage of total home sales but are still an important component of housing market health. After all, when new homes are selling, builders are more likely to build more homes, which results in additional supply, stable prices, and better overall conditions for home buyers. That’s why the latest numbers from the U.S. Census Bureau and the Department of Housing and Urban Development could be a positive sign. In March, new home sales increased 7.4 percent from the month … [Read more...]

Home sellers are seeing a smaller profit than they were last year but continue to do well, according to ATTOM Data Solutions’ 2025 U.S. Home Sales Report. The report found homeowners made, on average, a 50.2 percent profit selling single-family homes and condos during the first quarter of this year. The median raw profit was $119,000. Rob Barber, ATTOM’s CEO, says those are strong numbers by historical standards. “Sellers may not be enjoying quite the same windfall they were a few years ago but by historical … [Read more...]

Sales of previously owned homes fell in March, according to new numbers from the National Association of Realtors. The group found sales down 5.9 percent from the month before and 2.4 percent lower than last year at the same time. Lawrence Yun, NAR’s chief economist, says the housing market remains strong despite a sluggish March. “In a stark contrast to the stock and bond markets, household wealth in residential real estate continues to reach new heights,” he continued. “With mortgage delinquencies at … [Read more...]

The housing market’s affordability issues are mainly a supply problem. Fewer homes for sale have pushed prices higher for the ones that are available. It’s simple math and the solution is more homes. The National Association of Realtors’ consumer website recently took that equation and applied it to each of the 50 states. The resulting Housing Report Card is a state-by-state breakdown of which states are most affordable and best situated to build enough homes to meet future demand. The grades show the South and … [Read more...]

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates increased to their highest level in two months last week. Rates were up across most loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. The increase led to slower application activity, with refinance demand down 20 percent week-over-week and purchase demand down 7 percent. Joel Kan, MBA’s vice … [Read more...]

The home buying process involves a lot of compromise. After all, you’re unlikely to find a house that has every one of the features and amenities on your wish list unless you have one built to your exact specifications. That means you’re going to have to be flexible and you may even have to rethink your priorities once or twice along the way. It seems millennial buyers have already figured this out. According to a new survey from the National Association of Home Builders, millennial home buyers are looking for the … [Read more...]