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.
Suburban Homes Still Feel Recession’s Pinch
Per-square-foot values for both urban and rural homes ($231 and $102 per square foot, respectively) have exceeded their pre-recession highs and are currently at new peaks, but the current value for suburban homes stands below its prior peak of $140, last reached in October 2006.
Homeowners Drive Household Formation, Push Up Ownership Rate
Young adults under age 35 drove the increase in homeownership, which is up 1.3 percentage points from its trough in Q2 2016 and in line with rates observed during the late 1980s and early 1990s prior to the housing bubble.
Economy’s Strength, Future Deficit Prospects Drive Mortgage Rates To Highest Level in a Year
For the second week in a row, the average prime 30-year fixed mortgage rate quoted on Zillow increased about 10 basis points over the past week, rising to 4.06 percent.
November Case-Shiller Results and December Forecast: Unseasonably Strong Demand
Demand from home buyers was unseasonably strong in the final months of 2017 – even in the face of full holiday schedules, low inventory, high competition and rising home prices – helping to push headline Case-Shiller indices somewhat higher than expected in November.
