The July 2024 housing market has shown some intriguing developments, with existing-home sales rebounding after months of declines. Buyers and sellers navigate new opportunities as the market adjusts to economic shifts and inventory challenges. Existing-Home Sales Rebound in July 2024 In a positive turn of events, existing-home sales rose by 1.3% in July 2024, breaking […]
The December 2023 housing market offers a comprehensive snapshot of the current real estate landscape, revealing trends that are crucial for buyers and sellers alike to understand. With the fluctuation in sales, inventory levels, and prices, this period has become a focal point for those looking to navigate the market effectively. Plymouth Title Guaranty Corporation […]
The October 2023 Housing Market in the U.S. presented a complex landscape of high mortgage rates intertwined with a fluctuating economy, creating a scenario of contradictions. While there was a slight uptick in single-family housing starts and permits, indicating a possibility for future construction expansion, the overall market dynamics continued to exhibit inconsistency. Housing Inventory […]
Mortgage rates, the pivotal factor in home-buying decisions, have witnessed a turbulent journey over the past years. As we enter into a phase of economic recalibration, forecasting the trajectory of mortgage rates in 2024 becomes crucial for stakeholders in the real estate market. With comprehensive market insights and analysis, let’s delve into the expectations and […]
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 […]
Climate change is causing significant disruptions to natural disasters and weather patterns worldwide, prompting mortgage lenders to acknowledge the implications of emerging threats on the American real estate market. This article explores the reasons why mortgage lenders are closely examining climate risk and its effects on the industry. Defining Climate Risk in Mortgage Lending In […]
Adjustable-rate mortgages (ARMs) are now making up 10% of mortgage, compared to 3% at the beginning of the year. This surge in popularity has many real estate experts and prospective homeowners wondering. What ARMs are, how they work, and what’s making them such a popular choice in 2023. What is an Adjustable-Rate Mortgage? An adjustable-rate […]
Despite a seemingly endless upward trajectory, recent data finally points to falling mortgage rates. Mortgage rates, on a consistent rise over the past year, fell to 6.61%. Thus, mortgage rates decreased nearly half a percentage point since last week. Furthermore, 15-year mortgage rates dropped to 5.98%, nearly half a point drop but still way higher […]
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 […]