U.S.-China Roller Coaster Sends Mortgage Rates Way Down, Then Way Up
It’s been a tumultuous seven days, with mortgage rates ultimately settling near three-month highs. Once again, the driving force behind these movements were trade discussions between the U.S. and China.
Mortgage Rates Rise on Brexit and Trade News, But Gains Could Be Short-Lived
Mortgage rates rose to three-month highs this week on encouraging geopolitical developments, but will likely be drawn back after the Federal Reserve’s third rate cut of 2019.
Gains Among Latinx, Young Homeowners Drive Q3 2019 Homeownership Gains
The U.S. homeownership rate rose to 64.8% in Q3 2019, up from 64.1% in Q2 and 64.4% in Q3 2018, according to the U.S. Census Bureau.
August Case-Shiller Results and September Forecast: Stabilizing, not Swooning
The S&P CoreLogic Case-Shiller U.S. National Home Price Index® rose 3.2% year-over-year in August (non-seasonally adjusted), up from 3.1% in July.
Dead Neighborhoods: Where Cemeteries Might Influence How Much Buyers Save or Spend
An abundance of nearby graveyards may help scare up neighborhood home values or bury them, according to a Zillow analysis.
September New Home Sales: Continued Strength
September new home sales were down 0.7% from August, to 701,000 units (SAAR). Sales were up more than 15% from a year ago.
Brexit Progress Pushes Rates to Highest Levels in a Month
Mortgage rates rose this week as progress surrounding the Brexit negotiations helped push rates to their highest levels in over a month.
September Existing Home Sales: Back Down to Earth
There simply are not enough lower-priced homes to keep the market humming. While builders are putting up more homes, their pace is not keeping up with what buyers demand.
To Afford Homes, Buyers Work More and Give Up Entertainment and Vacations
Buying a home is expensive – often the single priciest transaction most of us ever undertake. So it should come as little surprise that a majority of home buyers report making some kind of financial sacrifice to afford their homes – with younger buyers, first-time buyers and/or parents more likely to give up something.
