Rapid Reaction: November Existing Home Sales
November marked the third month in a row in which sales strongly beat expectations, showing strength despite an early Thanksgiving that might have otherwise delayed some closings and ushered in the start of the typically slower holiday season.
November Home Sales Forecast: Back to Normal
Existing home sales in November likely finally, fully brushed off the lingering effects of late Hurricanes Harvey and Irma and should return to the relatively subdued levels experienced throughout much of the year, while new home sales are expected to come back to earth after an unexpectedly strong autumn.
Mortgage Rates Edge Lower on Fed and Tax News
A Federal Open Market Committee (FOMC) Federal Funds Rate increase coincided with news of a compromise tax reform bill, sending mortgage rates slightly lower on Wednesday afternoon – likely due more to the fiscal policy than the Fed news.
Rising Single-Family Rentals Dampening Home Sales
Hundreds of thousands of homes that may have otherwise sold in a typical year over the past decade – particularly more-affordable homes – have instead been taken off the market and converted to single-family rentals, a trend that exploded in popularity in recent years and is only now beginning to level off.
Bump in 2018 Conforming Loan Limits Likely to Save Borrowers Thousands
Tens of thousands of homes in some of the nation’s priciest housing markets – including New York, L.A., Miami and Seattle – will no longer require a jumbo purchase mortgage next year, likely saving their potential buyers thousands of dollars.
Tax and Fed News Bumps Mortgage Rates, But They Remain in Narrow Range
The prime 30-year fixed mortgage rate quoted on Zillow edged slightly higher mid-week last week. However, it remained in the 10-basis point range where it has been since the end of October.
Thanksgiving Break Makes for Quiet Mortgage Markets
The Thanksgiving holiday made for a quiet market late last week, with most lenders closed and activity being fairly subdued when the market was open on Friday.
October New Home Sales: Gains Across the Country
New home sales rose 6.2 percent from September to October to 685,000 units, the most sales in a single month since October 2007.
October Home Sales Forecast: Back to Normal
Home sales likely moved past late-summer weather disruptions in October, with both existing and new home sales reverting to recent norms.
Senate Tax Plan Would Make MID Feasible on Fewer Homes Than House Bill
Changes to the nation’s tax code as proposed by the U.S. House of Representatives and the Senate are set to impact current and would-be homeowners in a number of ways.
