February Existing Home Sales: Rebounding Despite Bad Weather
Sales likely would have been stronger if it were not for weather-related disruptions in the Northeast and Midwest.
February Existing Home Sales: Rebounding Despite Bad Weather
Sales likely would have been stronger if it were not for weather-related disruptions in the Northeast and Midwest.
Rapid Reaction: February New Home Sales
February new home sales fell 0.6 percent from January, to 618,000 units (SAAR), the third straight month of declines compared to the month prior. New home sales were up 0.5 percent year-over-year.
Rent Growth Accelerating at Fastest Pace in 21 Months (February 2018 Market Report)
For the seventh month in a row, Sacramento led major metro areas in rental growth. Meanwhile, the San Jose metro area posted astonishing annual home value growth of 26.4 percent, reaching a median of $1.25 million.
Mortgage Rates Rebound to Four-Year Highs
The Federal Open Market Committee said today it's increasing its benchmark short-term interest rates, and it released quarterly projections that suggest a slightly faster pace of rate hikes over the next two years than had been anticipated.
Rapid Reaction: February Existing Home Sales
February existing home sales rose 3 percent from January and 1.1 percent from a year ago, to 5.54 million sales (SAAR), according tot he National Association of Realtors. The median price of existing homes sold last month rose 5.9 percent from a year ago, to $241,700, the 72 straight month of price increases.
February Home Sales Likely Held Back by Wintry Weather, Rising Rates, Limited Listings
Persistently and relentlessly tight inventory, rising mortgage interest rates and a series of nasty winter storms likely combined to keep February home sales activity muted, especially sales of existing homes.
Rising Mortgage Rates Threaten Housing Affordability and Inventory
A sustained upswing in mortgage interest rates is likely to be felt by current and would-be homeowners alike, denting mortgage affordability in many large markets and complicating the financial decision on when or whether to move to a different home.
Mortgage Rates Focus Shifts from Fed News to Geopolitical Risk
Political and geopolitical developments have seized markets' attention, driving mortgage rates up. Fed news implying a faster pace of interest rate hikes lingered in the background.
Mortgage Rates React to Fed Chair Comments, But End the Week Flat Again
Fed Chair Jerome Powell suggested that four rate hikes may be appropriate for the remainder of 2018 rather than the three that markets had anticipated. There is some uncertainty about the intent of the comments; Powell is scheduled to testify before the Senate Banking Committee on Thursday, where he could clarify his remarks.
