Mortgage Rates Remain at Five-Year Highs Following Fed Announcement
After successive weeks of rising rates, borrowers were offered a slight reprieve this week as markets anticipated a Federal Reserve announcement following its policy meeting on Wednesday. Mortgage rates held at five-year highs, and the meeting offered few surprises.
August New Home Sales: Rapid Reaction
August new home sales rose 3.5 percent from July, to 629,000 sales (SAAR), and were up 12.7 percent from a year ago, according to the U.S. Census Bureau. Still, August was the second-lowest sales month since Oct. 2017.
July Case-Shiller Results and August Forecast: Autumn Chill
A slight autumn chill has fallen over the housing market, and after an incredibly hot past few years, it’s probably fair to say the cooldown is a welcome development for many would-be home buyers.
August Existing Home Sales: Rapid Reaction
The housing market certainly isn't frozen – its long summer is far from over – but there’s a definite chill in the air.
Mortgage Rates Continue September Surge, Approach Five-Year High
A relatively quiet end to August has given way to a September in which rates have flown out of the gate — a surge that many analysts view as past due.
August Housing Starts: Rapid Reaction
August housing starts were up 9.2 percent from July and 9.4 percent from a year ago, according to the U.S. Census Bureau.
Forecast for New and Existing Home Sales (August 2018)
Summer 2018 is poised to post a weak string of existing and new home sales when August data are released over the next two weeks: We expect both series to show month-over-month declines for the third month in a row.
There Are Fewer New Homes Being Built, and Their Size and Lots Are Smaller
The square footage of the typical new home decreased slightly in 2017 from 2016 – from 2400 square feet to 2300 square feet – continuing a gradual decline that has lasted for much of this decade.
A Decade After Housing Bust, Recovery Is a Story of Location
Twenty-one of the top 35 metros have more than recovered from the bust. San Jose and Denver lead the recovery with huge gains, while Las Vegas, Orlando and Chicago have been the slowest to recover.
Strong Economy, Tax Cut News Push Mortgage Rates to Highest Levels in Weeks
Mortgage rates rode strong manufacturing data and news of potential tax cuts to their second straight week of gradual gains, reaching their highest levels in almost a month.
