Mortgage Rates Quiet Over New Year’s Holiday
Friday’s December Jobs Report will be another opportunity for markets to assess the state of the U.S. labor market. If the data come in as expected, they should show a strong job market at the end of 2017.
Total Value of All U.S. Homes: $31.8 Trillion. How Big Is That?
It's more than 1.5 times the Gross Domestic Product of the United States and approaching three times that of China. Total U.S. home values have grown $1.95 trillion over the past year -- more than all of Canada's GDP or two companies the size of Apple.
Case-Shiller October Results and November Forecast: Still Defying Gravity
The housing market’s resistance to headwinds is a testament to the enduring value Americans place on homeownership. The Case-Shiller National Index for October climbed 6.2 percent year-over-year. Seattle, Las Vegas and San Diego continued to post the strongest annual gains in its 20-City Composite Index, with increases of 12.7 percent, 10.2 percent and 8.1 percent, respectively.
Tax Reform With $750k Cap on Mortgage Interest Deduction Would Leave 1 in 7 U.S. Homes Eligible
As the House and Senate search for common ground between their respective tax overhaul plans, reports indicate at least one discrepancy – the cap on the Mortgage Interest Deduction (MID) – might already be resolved.
Bump in 2018 Conforming Loan Limits Likely to Save Borrowers Thousands
Tens of thousands of homes in some of the nation’s priciest housing markets – including New York, L.A., Miami and Seattle – will no longer require a jumbo purchase mortgage next year, likely saving their potential buyers thousands of dollars.
Low Inventory, Sluggish Building Defined Housing in 2017; Expect 2018 to Look Similar
Persistently low inventory of homes for sale, and low levels of single-family home building activity in particular, proved the most surprising housing trends to a majority of experts in 2017 – and they say neither is particularly likely to reverse course in 2018, nor is homeownership expected to rise much.
Rapid Reaction: October New Home Sales
October new home sales jumped 6.2 percent from September, to 685,000 units (SAAR), beating expectations and turning in a second straight strong month.
October 2017 Market Report: Home Values Growing at Twice the ‘Normal’ Rate
October was the 15th consecutive month in which home values rose by at least 6 percent, which is double the roughly 3 percent annual rate of appreciation we might expect in a more “normal” market.
October Home Sales Forecast: Back to Normal
Home sales likely moved past late-summer weather disruptions in October, with both existing and new home sales reverting to recent norms.
Changes to Capital Gains Taxes Could Radically Alter the Calculus for Home Sellers
Proposed changes to the laws governing the exclusion of home sales from capital gains taxes would both radically change the time horizon for short-term homeowners considering selling their home and have a potentially huge impact on the inventory of homes for sale.
