Blog August 2022
CNBC’s Diana Olick joins ‘Squawk Box’ to break down the latest read on weekly mortgage demand data from the Mortgage Bankers Association. Continue Reading .......
WASHINGTON (August 18, 2022) – Existing-home sales sagged for the sixth straight month in July, according to the National Association of REALTORS®. All four major U.S. regions recorded month-over-month and year-over-year sales declines. Continue Reading....
Robert Shiller, Yale University professor of economics and Case-Shiller Index co-founder, joins ‘Power Lunch’ to discuss homebuilder sentiment, why homebuilders aren’t building and if home prices are actually starting to declining. Continue Reading .......
Builders say more buyers are backing out of sales contracts for new homes as traffic fizzles, causing homebuilder confidence to drop for the eighth straight month, the Commerce Department reported Tuesday. Single-family home construction last month declined 10% annually, matching the lowest level since the onset of the COVID-19 pandemic in 2020, according to the data. Continue Reading.........
Mortgage rates appear to be settling in the 5% range after recent dramatic climbs that shocked home buyers. The 30-year fixed-rate mortgage averaged 5.13% this week, down slightly from its 5.22% average a week ago, Freddie Mac reports. Continue Reading......
Facing record-high year-over-year rates of inflation, the Fed has been trying to combat it with a series of rate hikes that many Americans haven’t seen in decades. Rising mortgage rates have certainly had an impact on housing markets in the United States, with the number of home sales nationally declining by 7.4%, from 636,507 home sales in May 2021 to 589,146 home sales in May 2022, according to the latest data from Redfin RDFN -3.8%. Continue Reading.......