Mortgage Rates Remain at Highest Levels in Seven Years Despite Stock Market Commotion
Rates experienced a modest increase on Wednesday, following the release of Federal Reserve minutes detailing its commitment to continued gradual rate hikes into next year.
Forecast for New and Existing Home Sales (September 2018)
Zillow expects September existing home sales to fall 0.2 percent from August, to 5.33 million units at a seasonally adjusted annual rate. New home sales should rise 1.4 percent from August, to 638,000 units (SAAR).
America’s Youngest Adults Have the Most Confidence in Real Estate
Survey data collected over the past two years shows the nation’s youngest residents are also the most bullish on real estate.
Rising Mortgage Payments Eclipse Home Value Gains
The typical mortgage payment in August was up 15.4 percent, or $118 a month, from a year earlier, even though home values gained just 6.5 percent in that same period.
Strong Employment Data and Economic Sentiment Thrust Rates to Seven-Year Highs
Propelled by positive employment and payroll data, along with the underlying strength of the U.S. economy, mortgage rates skyrocketed this week to their highest levels in more than seven years.
Rates Down Slightly But Primed For Return to Multi-Year Highs
Mortgage rates trended slightly lower this week but are primed to return to multi-year highs following a late rally on encouraging jobs data.
As California Debates Rent Control, More Supply Is Contributing to a Slowdown in Rents
Beyond ongoing rent control debates, the undercurrents of the California rental market are shifting on their own in response to fundamental market forces.
Mortgage Rates Remain at Five-Year Highs Following Fed Announcement
After successive weeks of rising rates, borrowers were offered a slight reprieve this week as markets anticipated a Federal Reserve announcement following its policy meeting on Wednesday. Mortgage rates held at five-year highs, and the meeting offered few surprises.
August New Home Sales: Rapid Reaction
August new home sales rose 3.5 percent from July, to 629,000 sales (SAAR), and were up 12.7 percent from a year ago, according to the U.S. Census Bureau. Still, August was the second-lowest sales month since Oct. 2017.
