The S&P Case-Shiller Home Price Indices is considered among the leading measures of U.S. home prices. Its data goes back more than 30 years and covers all nine Census divisions. According to its most recent release, S&P found national home prices up 1.7 percent year-over-year through the end of July. That’s virtually unchanged from the previous month’s results and far weaker than the double-digit annual gains seen just a few years ago. Nicholas Godec, head of Fixed Income Tradeables & Commodities at … [Read more...]

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates moved higher last week from the week before. Rates were up 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. The increases led to a drop in demand for mortgage applications. Joel Kan, MBA’s vice president and deputy chief economist, says rates were at their highest level in … [Read more...]

The number of signed contracts to buy homes rose 4 percent month-over-month in August, according to new numbers from the National Association of Realtors. The increase pushed pending home sales 3.8 percent higher than they were last year at the same time and included a nearly 9 percent increase in the Midwest and a 5 percent bump in the West. Lawrence Yun, NAR’s chief economist, says lower mortgage rates are driving buyer interest. “Lower mortgage rates are enabling more home buyers to go under contract,” Yun said. … [Read more...]

New home sales data is volatile and often revised. Mostly that’s because a sale is counted when a contract is signed and can be for a house that hasn’t even begun construction. But while sales data is subject to revision, the 20.5 percent increase recently reported by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau still seems encouraging for the market. The month-over-month increase pushed sales 15.4 percent higher than they were last year at the same time. It also came before … [Read more...]

Sales of previously owned homes were flat in August from one month earlier, according to the National Association of Realtors. Nationally, sales were down 0.2 percent month-over-month, with increases in the Midwest and West but decreases in the Northeast and South. Lawrence Yun, NAR’s chief economist, says sluggish sales may soon ramp up. “Home sales have been sluggish over the past few years due to elevated mortgage rates and limited inventory,” Yun said. “However, mortgage rates are declining and more inventory … [Read more...]

Each month, Fannie Mae’s Economic and Strategic Research Group releases an outlook detailing what they think’s ahead for the housing market and economy. The outlook covers everything from economic growth to mortgage rates and forecasts where they’ll be at the end of this year and through 2026. According to its September forecast, Fannie Mae sees improvement on the way. For starters, the group believes mortgage rates will fall slightly lower by the end of the year and drop roughly another half point by December … [Read more...]

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell last week from one week earlier. Rates were down for 30-year fixed-rate loans with both conforming and jumbo balances, flat for loans backed by the Federal Housing Administration, and up slightly from the week before for 15-year fixed-rate loans. Mike Fratantoni, MBA’s senior vice president and chief economist, says the 30-year fixed rate is now at its lowest level in a year. “Mortgage rates declined further last … [Read more...]

Not all homes are move-in ready. In fact, most aren’t. Even new homes leave a lot of the finishing touches up to the new owners. In other words, you’re going to have to put in some work no matter what house you buy. How much, though, is up to you. You can look for something that’s relatively ready to go or find a house that needs some love. These days, a lot of buyers are passing on higher priced turn-key options in favor of getting their hands dirty. In fact, according to one new analysis from the National … [Read more...]

“Normal” is tough to define. But when it comes to housing affordability, most potential home buyers can agree the past several years have felt anything but normal. Skyrocketing prices, elevated mortgage rates, and competition from other buyers have made finding an affordable house seem almost impossible. Fortunately, the market has calmed recently and, according to one new study, may even be on track to return to normal. Per the report, if both home price and wage growth hold at today’s pace, mortgage rates would … [Read more...]

Spring is known as the housing market’s hottest time of year. It’s also usually the best time of year to sell a house. But is it the best time to buy? Well, not according to one new analysis from the National Association of Realtors’ consumer website. The group’s 2025 Best Time To Buy Report found the best time for buyers is actually fall – and it’s fast approaching. In fact, the week of October 12-18 is considered the time to buy, as it provides a combination of more available listings and less competition from … [Read more...]