HousingWire There was a surge of first-time buyers across all age groups last year Millennials replaced baby boomers as the largest group of homebuyers in 2023. The combined share of millennials, both younger (ages 25 to 33) and older (ages 34 to 43), made up a combined 38% of the home purchase market last year, …
Freddie Mac Mortgage rates showed little movement again this week, hovering around 6.8 percent. Since the start of 2024, the 30-year fixed-rate mortgage has not reached seven percent but has not dropped below 6.6 percent either. While incoming economic signals indicate lower rates of inflation, we do not expect rates will decrease meaningfully in the …
CNN For all intents and purposes — and by most economists’ predictions — job growth was supposed to slow by now, as the pandemic recovery grew complete. The US labor market also was supposed to weaken under the pressure of 11 interest rate hikes. Instead, on Friday, yet another jobs report defied expectations. Employers added …
KCM Here’s the scoop: while the number of foreclosure filings might be inching up, we’re nowhere near a foreclosure crisis. The market’s stable, buyer demand is strong, and homeowner equity is higher than ever. Foreclosures Have Increased, But Not By Much During the Great Recession, millions of homes went into foreclosure. In 2010, there were …
KCM Recent headlines may leave you wondering what’s next for mortgage rates. Maybe you’d previously heard there were going to be cuts this year that would bring rates down. That refers to the Federal Reserve (the Fed) and what they do to their Fed Funds Rate. While cutting, or lowering, the Fed Funds Rate doesn’t directly determine mortgage rates, it …
Inman News The Federal Reserve’s preferred inflation gauge moved in the wrong direction last month for the first time since September, but core inflation fell for the 13th consecutive month, to 2.8% An inflation gauge that’s closely watched by Federal Reserve policymakers shows annual inflation drifted upward to 2.5 percent in February, moving further away …
HousingWire With current mortgage rates, we should grow active inventory by 11,000-17,000 each week By Logan Mohtashami The best housing story in 2024 is that inventory is growing — both active inventory and new listings. With mortgage rates at the current levels, inventory is still below my expectations, but it’s still such a positive story that I had …
National Association of REALTORS Key Highlights Pending home sales in February grew 1.6%, according to the National Association of REALTORS®. The Midwest and South posted monthly gains in transactions while the Northeast and West recorded losses. All four U.S. regions registered year-over-year decreases. The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales …
HousingWire We continue to see the signals that home sales volume will grow this year and prices will be mostly flat By Mike Simonsen Last week was a pretty strong week for all the housing numbers. New supply and sales numbers keep climbing — both weekly and over last year. Home prices had a slight increase …
KCM One of the biggest hurdles buyers have faced over the past few years has been a lack of homes available for sale. But that’s starting to change. The graph below uses the latest data from Realtor.com to show there are more homes on the market in 2024 than there have been in any of the past …
