Latest Updates Around The World
Sales of new U.S. single-family homes fell in December, but builders made progress in reducing inventory build-up, potentially allowing them to break ground on more new housing projects. New home sales fell 1.7% to a seasonally adjusted annual rate of 745,000 units, the Commerce Department’s Census Bureau said Friday. Sales rose from 656,000 in October […]
The report states that these figures are higher than the CFPB’s reported figure of $21 billion returned to consumers through enforcement actions. “Through a combination of regulation, oversight, and the continued threat of enforcement, the CFPB has increased the cost of credit for both lenders and borrowers,” the report said. “In addition, instances of overreaching […]
U.S. existing home sales rose modestly in November due to an easing of mortgage rates, but economic uncertainty is keeping potential buyers on the sidelines. Friday’s report from the National Association of Realtors also showed that the inventory of previously owned homes fell to the lowest level in eight months from October, limiting choice for […]
MBA’s PAPI, which tracks changes over time in new monthly mortgage payments relative to income, uses data from the trade group’s weekly application survey. The PAPI fell 0.2% to 149.6, marking a sixth straight monthly improvement. “Affordability conditions have now improved for six months in a row as lower mortgage rates and strong growth in […]
Purchases fell 22% from October and 6% year-on-year as high home prices and low inventory levels continued to curb demand, the report said. report. The Optimal Blue Mortgage Market Indices (OBMMI) 30-year conforming fixed rate – the benchmark for CME Group‘s mortgage rate futures fell 1 basis point to 6.14% in November, an improvement of […]
As Logan Mohtashami, HousingWire’s chief analyst, noted earlier this week, spreads between 10-year Treasury yields and 30-year Treasury mortgage rates have fallen significantly over the past two years. Vishal Garg, CEO of digital lender Better.comsaid in an email interview with HousingWire that it is “a big deal” if spreads tighten as the Fed has not […]
ICE found overall mortgage performance was strong in October, with the national default rate falling 7 basis points (bps) to 3.34%. That is 11 basis points lower than last year and 53 basis points lower than the pre-pandemic benchmark of October 2019. Andy Walden, head of ICE’s mortgage and housing market research, said the modest […]
“Today’s buyers aren’t just looking for a home – they’re looking for a sense of community,” said Chris Lim, Chief Growth Officer of REMAX. “It is the job of real estate professionals to help potential buyers find homes and neighborhoods that meet their financial needs while supporting the way they want to live.” Affordability and […]
However, the recovery is expected to remain slow, with existing home sales well below normal levels and broader political and economic uncertainty keeping the outlook fragile. Realtor.com predicts that the average 30-year mortgage rate will hover around 6.3% in 2026 – slightly below the 2025 average of 6.6%. That’s according to Chief Economist Danielle Hale […]
The stable nature of mortgage rates in recent weeks is partly related to the consistency in mortgage spreads. The difference between the 30-year mortgage rate and the 10-year government rate is higher than the historical average of 1.60% to 1.80%, but at a current figure of 2.19% is much lower than at the end of […]
