Mortgage Rates Rebound to Four-Year Highs
The Federal Open Market Committee said today it's increasing its benchmark short-term interest rates, and it released quarterly projections that suggest a slightly faster pace of rate hikes over the next two years than had been anticipated.
Rapid Reaction: February Existing Home Sales
February existing home sales rose 3 percent from January and 1.1 percent from a year ago, to 5.54 million sales (SAAR), according tot he National Association of Realtors. The median price of existing homes sold last month rose 5.9 percent from a year ago, to $241,700, the 72 straight month of price increases.
February Home Sales Likely Held Back by Wintry Weather, Rising Rates, Limited Listings
Persistently and relentlessly tight inventory, rising mortgage interest rates and a series of nasty winter storms likely combined to keep February home sales activity muted, especially sales of existing homes.
Mortgage Rates Focus Shifts from Fed News to Geopolitical Risk
Political and geopolitical developments have seized markets' attention, driving mortgage rates up. Fed news implying a faster pace of interest rate hikes lingered in the background.
Mortgage Rates React to Fed Chair Comments, But End the Week Flat Again
Fed Chair Jerome Powell suggested that four rate hikes may be appropriate for the remainder of 2018 rather than the three that markets had anticipated. There is some uncertainty about the intent of the comments; Powell is scheduled to testify before the Senate Banking Committee on Thursday, where he could clarify his remarks.
In Contest for Amazon HQ2, Experts Bet on Atlanta and D.C. Suburbs
Atlanta and Northern Virginia are the most likely landing spots for Amazon’s coveted second headquarters location, according to a recent Zillow survey of economists and real estate experts. Los Angeles was deemed least likely to win the heated competition for Amazon HQ2.
January New Home Sales: Second Sharp Drop in a Row
If there was a silver lining in the January report, it was in the regional detail. While new home sales fell sharply – both from the prior month and the prior year – in the South and the Northeast, they increased in the West and the Midwest.
Notable Numbers From February 2018
February saw some surprising housing figures: How long it takes singles to save down payments. How quickly affordable homes are gaining value. How much the typical home in San Jose, Calif., is worth. Take a peek.
December Case-Shiller Results and January Forecast: Why 2018 Looks A Lot Like 2017
The familiar patterns in the housing market that emerged in the second half of 2017 – lots of demand from home buyers, limited supply of homes available to buy, quickly rising prices and slow but steadily deteriorating affordability – are continuing to shape the start to 2018 as well.
