Market Trends
Manufacturing Miss Pushes Rates Down Further
The contraction was the latest sign that the U.S.-China trade war is doing real damage to the economy.
Rates Near Three-Year Lows, As Connection With Yields Remains Frayed
Rates remain near three-year lows, but in recent weeks have not dropped nearly as low as we would expect given the fact that bond yields have fallen markedly over the same timeframe.
June Case-Shiller Results and July Forecast: Phoenix Posts Largest YoY Gains
Would-be buyers stand with pre-approved mortgages in hand. However, they’ve become unwilling to pay escalating prices for the relatively low inventory of homes that are on the market and instead are making sellers wait and even drop list prices.
New Home Sales (July): A Step Back, But Still on Pace for Best Year Since 2007
Today’s figures are on a host of monthly revisions that together indicate a robust trend. Sales are now up 4% year-to-date, with 2019 on pace to be the best year for new home sales since 2007.
Mortgage Rates Split with Treasurys, Stay Flat This Week
Mortgage rates barely budged this week, straying from their typical pattern of moving with bond yields.
Drought-Resistant Terms Doubled in California, Arizona Listing Descriptions
Mentions of drought-resistant features in home listing descriptions roughly doubled in California and Arizona during the recent drought, and have yet to return to pre-drought levels.
July Existing Home Sales: Far From Stellar
Despite today's win, sales are falling short of the stellar performance you'd expect from a market with enticing mortgage rates and strong employment.
Forecasts for Existing and New Home Sales (July 2019)
With the busy spring shopping season come and gone, it’s unlikely that we’ll see a sharp increase in existing home sales volume.
July Housing Starts: Still Languishing
Consumers stand ready to snap up new homes, particularly at the entry level, and mortgage rates are cooperating -- but new construction is not.
