In May, the housing market witnessed a glimmer of hope as mortgage activity rebounded following a period of decline. The Mortgage Bankers Association (MBA) reported a 5% increase in purchase applications compared to the previous month, indicating increased demand for housing. Refinancing applications also experienced a notable uptick, rising by 10%. However, it is important […]
The real estate data for March 2023 had a significant impact on mortgage-backed securities (MBS) in April. Let’s explore how specific factors influenced MBS: Decline in Existing Home Sales and Low Inventory Levels Existing home sales decreased by 2% in March compared to February and 22% from the previous year. This decline indicates reduced demand […]
While the past year-and-a-half took its toll on the real estate market, the latest news offered a glimmer of hope as data saw existing home sales rise. Despite 2021’s massive surge in real estate sales, 2022 generated a lackluster environment. Although the most recent data reflected an increase in home sales, housing inventory still presents […]
Over the last year, the real estate market fell into a bit of a slump, home builder confidence included. However, as we turn the corner to spring, confidence levels begin to climb once again. Home Builder Confidence Jumps from 35 to 42 Since the Great Recession of 2009, the United States faced a longstanding housing […]
Overall, the December 2022 real estate scene leaves much to be desired as the year comes to a close. Despite dropping over the last few weeks, higher mortgage rates continue to heavily impact mortgage application volumes. Currently, mortgage application volumes remain near the lowest levels in 25 years. According to the latest data from the […]
As mortgage rates to 20-year highs, home builder sentiment declined for the tenth month in a row. Similarly existing home sales fell for the eighth straight month. Further complicating the real estate market, housing inventory presents an ongoing barrier to prospective home sales activity. Despite the longstanding challenge, new construction remains slow. NAHB Survey Indicates […]
Throughout September, the latest August home sales data reflected a strong sensitivity to mortgage rates. When rates experienced a short-lived dip in August, home sales reacted with a sudden jolt of activity. However, September 2022 closed out with mortgage rates hitting their highest levels since 2007. Thus, the real estate will be sure to compensate […]
Heading into the July 2022 real estate market, the United States continues to face timeless obstacles. As the latest inflation data shows year-over-year growth, the white-hot U.S. real estate market displays signs of stalling. Despite 2021 reflecting a surge in home sales activity, sales of existing homes just achieved their fifth month in a row […]
May 2022 highlighted numerous real estate market challenges facing prospective home buyers. Now, the data directly supports the drop-off in activity. Higher Mortgage Rates Fueling Real Estate Market Challenges When discussing the latest real estate market challenges, higher mortgage rates take the top spot across many lists. Throughout the early days of the COVID-19 pandemic, […]
Throughout 2021, the United States real estate market experienced a massive resurgence, however, total mortgage originations are now plummeting this year. Mortgage Bankers Association Forecasts Plummeting Mortgage Originations With the release of last month’s existing home sales report, sales declined. Analysts point to rising mortgage rates as one of the primary causes, taking a large […]