As Mortgage Rates Flatten, Markets Anticipate Federal Reserve Speeches
Markets also are likely to focus on leadership changes at the European Central Bank, which could move European monetary policy toward a less accommodative stance and push up interest rates globally.
January Existing Home Sales: An Ominous Start to 2018
Sales were down 4.8 percent annually, the largest year-over-year drop since November 2015. The median seasonally adjusted price of existing homes sold in January surged to a new all-time record, increasing by 1.8 percent to $255,500, up 5.7 percent over the year.
Rapid Reaction: January Existing Home Sales
January existing home sales fell 3.2 percent from December to 5.38 million (SAAR), the second weak month in a row. January sales were down 4.8 percent from a year ago, the largest annual decline since August 2014.
What If the Housing Bust Didn’t Happen?
If the recession and housing bust had never happened, the median U.S. home would have been worth about $214,500 as of the end of 2017 -- $8,200 more than the actual value of $206,300.
Owners of the Most Affordable Homes Gaining Wealth Fastest
Owners of the country’s most affordable homes are gaining equity the fastest, because demand for entry-level homes continues to grow faster than supply.
January Home Sales Forecast: Edging Higher Into 2018
Facing strong headwinds from low and contracting for-sale inventory, existing home sales have plateaued over the past year at around three-quarters of the highs reached at the peak of the last housing cycle.
Fannie and Freddie’s Affordable Housing Hang-Up
Rural markets could be most vulnerable to changes in Fannie Mae and Freddie Mac’s affordable housing goals, and higher home values correspond with significantly fewer low-income mortgages purchased by the mortgage giants.
Inflation Data Pushes Mortgage Rates Higher After Days of Stability
The average prime 30-year fixed mortgage rate quoted on Zillow increased by almost 10 basis points on Wednesday to 4.27 percent, touching their highest levels since April 2014.
Singles Can Afford Fewer Than Half of U.S. Homes — and It’s Worse for Women
It takes a single person almost 11 years to save a down payment for a typical U.S. home – more than twice the time it takes a couple. The wage gap means single men can save down payments faster -- and afford a greater share of U.S. homes than single women.
Climbing Mortgages Rates Tempered by Market Volatility
An increase in mortgage rates was driven by the combination of financial market volatility, employment and wage growth data – further evidence of a strong U.S. labor market and stronger global economic growth. Those factors are expected to push the world’s major central banks to collectively tighten monetary policy for the first time in almost a decade and a half.
