New home construction plays an important role in housing market conditions. When builders are building more homes, the added supply helps level the market and keeps home prices from spiking. Which means, if you’re a prospective home buyer, the number of new homes being built affects you – whether you’re buying a new home or not. So, how’s new residential construction doing these days? Well, the latest data from the U.S. Census Bureau and the Department of Housing and Urban Development shows the number of new, … [Read more...]

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates were mostly flat last week, with slight declines for 30-year fixed-rate loans with conforming balances, 15-year fixed-rate loans, and 5/1 ARMs and increases for FHA and jumbo loans. With rates still elevated, demand for loans to buy homes fell 6 percent week-over-week. Joel Kan, MBA’s vice president and deputy chief economist, says demand was at its slowest pace since the start of the year. “Mortgage rates decreased … [Read more...]

Home builders know the housing market as well as anyone. Maybe more. Builders have to know what buyers want, where they want it, and what they’re willing to pay. That’s why the National Association of Home Builders keeps a monthly measure of home builder confidence. After all, if home builders are feeling good about market conditions, chances are the market is in good shape. According to the most recent results of the NAHB’s index, builder confidence slipped back in January after recent gains. The index is scored … [Read more...]

Most of us will need a loan to buy a house. But access to credit isn’t fixed. That means it’ll be easier to get approved for a loan at some points more than others. Ultimately, it depends on current lending standards and available loan programs, which is why the Mortgage Bankers Association tracks them with its Mortgage Credit Availability Index. The monthly measure of whether credit is loosening or tightening is a good gauge for prospective buyers as they get their finances in order. Joel Kan, MBA’s vice president … [Read more...]

January isn’t thought of as being among the housing market’s hottest months for home buyers. Buyers are more likely to have their plans on hold in the middle of winter, while they wait to see what the spring market might have to offer. This year, though, January was good to buyers. In fact, it actually broke records. How so? Well, according to one new analysis, it was the best January on record for home seller price cuts. Nearly 23 percent of home sellers lowered their price during the month, giving buyers a break … [Read more...]

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates saw a slight dip last week from one week earlier. Rates were down for 30-year fixed-rate loans with both conforming and jumbo balances and 15-year fixed-rate loans. Rates for loans backed by the Federal Housing Administration were unchanged from the week before and 5/1 ARMs increased. The improvements, though slight, led to a bump in mortgage application demand. Joel Kan, MBA’s vice president and deputy chief … [Read more...]

Real estate, it’s said, is all about location – and it’s true. Especially, these days. The number of homes currently available for sale varies wildly in markets across the country. That means some markets, where inventory remains low, are seeing faster price increases and more competition than others where inventory has rebounded more quickly. So, which regions of the country have closed the inventory gap the fastest? According to one analysis, the differences are pretty stark. For example, in the South, the number … [Read more...]

Your mortgage payment is likely going to be among your biggest monthly bills. So, it’s important to know what to expect. That’s why the Mortgage Bankers Association tracks the national median mortgage payment each month. Its Purchase Applications Payment Index looks at the payment amounts applied for by borrowers purchasing a home and measures those against income to determine affordability conditions over time. According to the most recent results, the national median payment fell slightly in December to $2,127. … [Read more...]

Fannie Mae’s monthly Home Purchase Sentiment Index is based on a survey of Americans which asks for their opinions on the housing market, buying and selling a home, prices, mortgage rates, their financial situation and job. According to the most recent release, Americans were feeling slightly more optimistic in January, as the index ticked up 0.3 points from the previous month. The gains included improvement in consumer optimism toward both buying and selling a home, despite an increasing number of respondents who … [Read more...]

For most of us, the decision to buy or rent is based on affordability. Whichever option is most comfortably affordable is the one we’ll choose. But which one is most affordable depends a lot on where you look. That’s why ATTOM Data Solutions’ 2025 Rental Affordability Report looks at 341 county-level housing markets to determine how much of an average American worker’s pay is required to rent vs. buy a three-bedroom property. The results show that both options are expensive these days but, in 60 percent of analyzed … [Read more...]