The Census Bureau and HUD report that single-family housing completions rose month-over-month in December, boosting housing supply nationwide.
Read More »Lower Mortgage Rates Boosting Buyer Confidence
Mortgage rates continue to drop to close out 2023, a positive turn of events for potential buyers after 17 consecutive weeks with rates above the 7% mark.
Read More »Purchase Mortgage Apps Jumped in November
First American's latest Potential Home Sales Model revealed mortgage rates declined in November, "igniting cautious optimism in the industry.”
Read More »Homeownership Remains Biggest Driver of Wealth Accumulation Among Most Households
“Despite the risk of volatility in the housing market, homeownership remains an important driver of wealth accumulation and the largest source of total wealth among most households,” said Ksenia Potapov, an Economist at First American Financial.
Read More »Will the ‘Seller’s Strike’ End, or Will Homeowners Give In?
As Americans hold tightly to their low mortgage rates, more than 90% of homeowners remain financially disincentivized from selling their homes, as it would cost more to borrow the same amount of money they owe on their current mortgage. A new study from First American dives into the situation.
Read More »Home Sellers’ ‘Suppliers’ Strike’ Holding Back U.S Housing Supply
As home prices hit a new peak for the seventh consecutive month in October, sellers continued their "suppliers’ strike," further constraining the market, according to First American's latest Home Price Index report.
Read More »Updated Home Price Index Report Reveals It’s Better to Rent—For Now
The gap between cost to own and cost to rent narrowed in the third quarter when also factoring in taxes, maintenance, utilities etc. Click through to find out why, in light of sky-high rents, it is still cheaper to rent than to buy in most markets.
Read More »YoY, MoM Increases in Home Prices: Now at All-Time High
On a yearly and monthly basis, home prices increased at a steady pace with only two of the top-30 metropolitan areas reporting declines. Click through to find out what else Septembers’ Home Price Index reveals.
Read More »23-Year-High Mortgage Rates Further Suppress App Volume
With the 30-year, fixed-rate mortgage edging closer to eclipsing the 8% mark, the MBA reports overall application volume falling from last week’s total, dipping to the slowest weekly pace reported since 1995.
Read More »It’s the 80s Again: Market Closely Resembles That of 40 Years Ago
“The average 30-year, fixed mortgage rate trended upward throughout September, approaching 8% in early October. Higher mortgage rates have a dual impact on the housing market–reducing affordability for buyers and strengthening the rate lock-in effect for potential sellers,” said Mark Fleming, Chief Economist at First American.
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