Reduced Need for Jumbo Mortgages as Conforming Loan Limits Rise
More than a million of the nation’s priciest homes will no longer require a jumbo mortgage as a result of new conforming loan limits announced today by the Federal Housing Finance Agency.
The slower growth in home prices indicates a national housing market that's finally finding more balance between buyers and sellers after years of near-total seller control.
October Existing Home Sales: Welcome Good News
October existing home sales rose 1.4 percent from September and 5.1 percent from a year ago, breaking a stretch of six straight monthly declines, according to the National Association of Realtors.
Inventory Climbs Meaningfully for the First Time in Almost Four Years (October 2018 Market Report)
Prospective home buyers can give thanks this season for a rare increase in inventory: The number of homes for sale in October rose 3 percent, the first year-over-year gain of more than 1 percent since December 2014.
Squabbles and Gobbles: Trade Tensions and Falling Stocks Send Mortgage Rates Lower
A rapid sequence of risk events, including a sell-off in stocks and ongoing international trade tensions, caused mortgage rates to fall to their lowest levels in a month.
October Housing Starts: Builders Give Us a Clearer View
October housing starts rose 1.5 percent from September, but were down 2.9 percent from a year ago, according to the U.S. Census Bureau.
Forecast for Existing and New Home Sales (October 2018)
After an unexpectedly sharp drop in September, we expect existing home sales extended their six-month long decline, falling 0.5 percent in October to 5.13 million units at a seasonally adjusted annual rate.
Student Debt Pushes More Homes Out of Renters’ Reach
Based on today’s values, the highest priced home a renting household with student debt could afford is $269,400. A renting household without student debt could go as high as $361,800.
Mortgage Rates Flat Amid Oil Price Declines
Mortgage rates remained flat this week, as a relatively light week of economic news and data releases, teamed with a collapse in oil prices and continued stock market volatility, resulted in modest rate movements.
More Than 386,000 Homes at Risk of Coastal Flooding by 2050
By 2050, more than 386,000 existing homes in U.S. coastal areas are likely to be at risk of permanent inundation. By 2100, the estimate is 2.5 million homes. Moderate emissions cuts, roughly in line with the Paris agreement on climate, could reduce the number to a little more than 348,000 homes by 2050 and 1.3 million homes by 2100.
