The typical U.S. home value was nearly flat from September to October (+0.1%), as buyers and sellers potentially settled on a new market equilibrium.
News
Mortgage Rates Enjoy a Calm Period, but Choppier Waters are Likely Ahead
Mortgage rates ticked up slightly this week and enjoyed a period of relative calm, as markets eagerly anticipated Federal Reserve policy updates and gauges of the economy for where to head next. But more pronounced movements are likely in the coming days.
Mortgage Rates Reverse as Investors Expect Moderation
Mortgage rates fell this week, touching 20-year highs before retreating considerably in recent days. The sharp reversal over the past few trading sessions – a rarity these days – suggests that investors may finally be expecting some moderation in the Fed’s pace of monetary policy tightening and some softening in key economic data releases – the two factors that have combined to push rates firmly higher this year.
September New Home Sales: New Sales Back Down With Rates Climbing
Mortgage rates spiked in September, leading to a slowdown in new construction sales compared to August when rates took a slight dip down.
August 2022 Case-Shiller Results & Forecast: Cooling Fall
Home values continued to fall in August as affordability took hold of both buyers and sellers. The impact was not as intense as it could have been given the slight reprieve in mortgage rates in August, which briefly dropped below 5% and helped to bolster sales counts. But that was short lived leading into September and October with much higher rates and more affordability concerns.
Mortgage Rates Rise on Persistent Inflation
Mortgage rates continued to increase last week as economic data showed more persistent inflation than expected.
September Housing Starts: Permits Stable Amid Soaring Interest Rates
Home builder sentiment plunged far below expectations in September, and housing starts fell again likely in response to interest rates picking up as builders anticipate demand falling even more
Mortgage Rates Rise to Twenty Year High
Mortgage rates pressed higher again this week, reaching 20-year highs as markets digested economic developments on both sides of the Atlantic.
