June Existing Home Sales: Disappointing, But Not Surprising
After a good May and a recent rebound in pending sales, June’s lackluster existing home sales data is certainly disappointing – but not entirely surprising.
U.S. Rent Growth Accelerates as Home Values Stabilize (June 2019 Market Report)
A surge in new apartment supply over the past few years that temporarily muted rent growth for much of 2018 has seemingly been fully digested by the market.
10 Most Affordable Markets for Renters
See 10 major metros where people spend less than 25 percent of their area's median income on the rent.
Strong Jobs Report Bumps Rates Higher – For Now
Despite strong economic releases, unexpectedly weak home construction data and concerns about international trade relations tempered mortgage rate increases over the past seven days.
June Housing Starts: Still Sluggish
A sluggish first half of 2019 indicates that builders have so far not been as willing or able to put up as many new homes as the strong economy and milder summer weather might otherwise suggest.
Strong Jobs Report Bumps Rates Higher – For Now
Mortgage rates rose this week following a stronger-than-expected jobs report, but are expected to come back down after Federal Reserve Chairman Jerome Powell testified that a near-term cut to the federal funds rate remains likely.
36 Major Metros Where High School Grads Can Afford a Home (Q1 2019 Affordability)
Despite home values climbing for years, the median home in 36 of the country’s 50 largest metro areas is theoretically affordable to households that earn the typical income associated with attaining only a high school diploma.
Rates Tick Lower Ahead of Jobs Report
The most important release is that of June jobs figures, due this coming Friday. Always a market-mover, this month’s figures carry considerable influence in the wake of last month’s disappointing release and should offer insight into whether last month was an exception or the beginning of a downward trend.
Mortgage Rates: Fed Fallout Mostly Flat
Rates have fallen consistently over the past several weeks, and that trend continued in the days following the Fed’s suggestion of a near-term cut to the federal funds rate.
