Fannie Mae’s Home Purchase Sentiment Index measures how Americans feel about their finances, the economy, their job, and the housing market. Based on a monthly survey, the index gauges whether consumers believe mortgage rates and home prices are headed up or down, whether they think it’s a good or bad time to buy or sell a home, and whether their personal finances and job security has improved or worsened over the past year. According to the most recent results, Americans are feeling cautious about the housing … [Read more...]

A lot about the way we live changed during the pandemic. Some of those changes were temporary. Others, though, are here for the long term. Remote work, for example. The Internet made working from a home a possibility but it was the pandemic that turned it into a reality. Now, more than three years later, it’s clear that remote work is here to stay. So are the changes it brought to the housing market. With more people able to work from anywhere, ideas about how and where we want to live changed too. People who no … [Read more...]

The housing market has an inventory problem. The lower-than-normal number of homes for sale has prices rising and home buyers frustrated. But while year-over-year numbers show fewer homes on the market and prices higher than last year, monthly data tells a different story. In fact, it shows some short-term improvement. For example, according to newly released numbers from the National Association of Realtors’ consumer website, inventory increased in September from the month before, rising nearly 5 percent. That’s a … [Read more...]

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates were up last week from one week earlier. Rates rose across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, 15-year fixed-rate loans, and 5/1 ARMs. Joel Kan, MBA’s vice president and deputy chief economist, says rates have been moving higher in recent weeks. “Mortgage rates continued to move higher last week as markets … [Read more...]

These days, home buyers face a number of challenges. With prices and mortgage rates both up and the supply of homes for sale down, the market has gotten more difficult over the past year and a half. But not all the news is bad for buyers. For example, according to the Mortgage Bankers Association, median mortgage payments were relatively flat this summer. The MBA’s Purchase Applications Payment Index measures new monthly mortgage payments based on the loan applications of recent home buyers. The latest results show … [Read more...]

Home shoppers focus their energy on the type of house they want and the features they’d like it to have. Things like the number of bedrooms, the size of the kitchen, and the available outdoor space are the first things they check when an interesting listing pops up. It makes sense. After all, too few bedrooms or a small kitchen can be a deal breaker. But while the layout of the house and the condition of the physical structure are obviously top considerations, there are other external factors that will also have an … [Read more...]

When you buy a home, you’re making an investment in the housing market. It may not be your primary reason for buying or your focus while living there, but it’s an investment nevertheless. The ups-and-downs of the market will affect your home’s value, how much equity you gain, and your options should you decide to move. In other words, market conditions should matter to you whether you’re a prospective home buyer or a current homeowner. So how’s the market doing? Well, according to a recent analysis of the total … [Read more...]

There are typically several weeks between when a contract to buy a home is signed and when the home’s sale closes. During this time, the sale is considered pending. Once it closes, that pending sale will become a final sale. That’s why the National Association of Realtors’ Pending Home Sales Index keeps track of contract signings each month. They’re considered a good future indicator of where home sales numbers are headed. According to the NAR’s most recent release, signings dipped in August. In fact, pending sales … [Read more...]

According to the Mortgage Bankers Association’s Weekly Applications Survey, demand for loans to buy homes fell 2 percent last week from one week earlier. The decline follows a 2 percent increase the week before and puts purchase loan demand 27 percent lower than it was last year at the same time. Joel Kan, MBA’s vice president and deputy chief economist, says elevated rates and low inventory are holding buyers back. “Overall applications declined, as both prospective home buyers and homeowners continue to feel the … [Read more...]

The S&P Case-Shiller Home Price Index is among the most closely watched measures of U.S. home prices. The index covers all nine census divisions and has been collecting data for nearly 30 years. According to the most recent release, home prices are climbing and have now made up for the declines that began last summer. Craig J. Lazzara, managing director at S&P, says the rebound has been broad based. “We have previously noted that home prices peaked in June 2022 and fell through January 2023, declining 5 … [Read more...]