For most of us, buying a house means applying for a loan. After all, homes are expensive, so you're probably going to need to finance your purchase. But the standards used to determine the terms of that loan, or whether or not you're approved to borrow at all, aren't fixed. There are times when your financial situation needs to be in better shape than others in order to qualify for a loan. That's why the Mortgage Bankers Association takes a monthly measure of mortgage credit availability. When lending standards … [Read more...]

According to the Mortgage Bankers Association's Weekly Applications Survey, demand for mortgage applications rose 2.8 percent last week from one week earlier. The improvement included a 3 percent increase in refinance activity and a 2 percent gain in the number of buyers looking for loans to buy homes. Joel Kan, MBA's vice president of economic and industry forecasting, says there are signs that first-time buyers are having more luck in the market. “The higher level of purchase activity last week was driven by more … [Read more...]

There are more home buyers looking for an affordable home than there are affordable homes to buy. That's been true for awhile now. It's part of the reason home prices keep rising. But while inventory is still down significantly from last year, the number of new listings has begun to improve. And, according to new numbers from the National Association of Realtors' consumer website, the number of available smaller homes is now climbing faster than other categories. In fact, the share of homes between 750 and 1,750 … [Read more...]

Fannie Mae's Home Purchase Sentiment Index is a monthly measure of how Americans feel about the housing market, economy, and their own personal financial situation. The survey asks participants whether they feel now is a good time to buy or sell a home, whether they think mortgage rates and prices will go up or down over the next year, and how they feel about their job and income. In July, the index saw a slight decline. Among respondents, fewer said they thought it was a good time to buy a home, while the number … [Read more...]

Homes sell quickly these days. Anyone who's shopped for a house recently knows this. A quality house listed on a Thursday will sometimes not even last through the weekend. That's good for home sellers but can be stressful for buyers. Which is why new numbers tracking home sales over the four-week period ending August 1 offer encouragement. The data shows that 49.7 percent of homes had an accepted offer within two weeks of being listed. And while that's fast – and nearly 6 percent higher than the same time last year … [Read more...]

When the pandemic began in early 2020, there were fears that it would hurt the housing market and home values. However, those fears were quickly set aside as home buyers returned and prices rose. In short, the housing market survived relatively unscathed as the coronavirus caused volatility and uncertainty nearly everywhere else. Now, more than a year later, a new report shows that it continues to thrive. In fact, according to ATTOM Data Solutions' U.S. Home Equity & Underwater Report, the number of equity-rich … [Read more...]

Buying a house is not something we do very often. Studies show the average American only buys a home three times in their entire life. So it'd make sense that the share of Americans planning to buy at any given time would stay fairly consistent and relatively low. But new numbers from the National Association of Home Builders show buyer demand is actually rising, and quickly. The data – from the NAHB's most recent Housing Trends Report – found the share of Americans planning to buy in the next 12 months is higher … [Read more...]

If you're a homeowner who is thinking about making a move, ATTOM Data Solution's most recent U.S. Home Sales Report has good news for you. That's because the report – which looks at how much profit the typical home sale generated during the second quarter of this year – found that home sellers are seeing bigger profits than they did at the beginning of the year – and significantly more than at the same time last year. In fact, during the second quarter, the typical home sale generated a profit of $94,500. That's up … [Read more...]

The number of contracts to buy homes signed in June fell 1.9 percent from the month before, according to new numbers from the National Association of Realtors. In May, they were up 8 percent month-over-month. The dramatic swing continues an up-and-down trend pending sales have followed since the start of the year. Lawrence Yun, NAR's chief economist, says the volatility is due, in part, to rising home prices. “Buyers are still interested and want to own a home, but record-high home prices are causing some to … [Read more...]

The housing market's breakneck pace this spring may've caused, at least, some prospective home buyers to hesitate. Competition, bidding wars, and double-digit price increases will do that. After all, choosing a house to buy is already a big decision without the added pressure of a hot market. But if you're a buyer who's been waiting for the market to cool off, Fannie Mae's Economic and Strategic Research Group may have some encouraging news. The group – which releases a monthly outlook for the housing market and … [Read more...]