Americans are hunkering down.
Tag: Mortgage Rates
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SPOTLIGHT: HOUSING MARKET UPDATE
Tracking trends is the understanding of where we are and how we got here to see where we are going. On the housing market front, let’s take a look at how we got here.
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RISING MORTGAGE INTEREST RATES WILL HOBBLE EUROPE’S ECONOMY, ECB SAYS
Although the European Central Bank (ECB) has lowered its interest rates, the cost of a mortgage is likely to continue rising throughout the 20-country Eurozone until at least 2030, the bank has warned.
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PENDING HOME SALES DIVE IN APRIL
An index gauging the number of home-sale contracts signed in April fell 6.3 percent from March, down to a reading of 71.3. The measure was 2.5 percent below that of April 2024, the National Association of Realtors (NAR) reported.
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DEMAND FADES AMONG FIRST-TIME HOME BUYERS
A large portion of Americans who do not own a home may be giving up on trying, according to data gathered by The Wall Street Journal. Among all homeowners, the share of first-time buyers is at a record low.
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MORTGAGE RATES CLIMB BACK UP OVER 7 PERCENT, CHILLING HOME SALES
On 11 April, the national average interest rate on a 30-year, fixed-rate mortgage rose .13 of a percentage point to reach 7.1 percent, its loftiest since mid-February, according to Mortgage News Daily (MND).
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U.S. HOME SALES INCREASE AS BUYERS SURRENDER TO HIGHER INTEREST RATES
In February, home sales rose 4.2 percent above January’s level as more homes came up for sale and more buyers seem to acquiesce to the idea that interest rates will remain at their current level or could move higher in the months ahead.
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U.S. HOUSING STARTS TUMBLE IN JANUARY
New single-family home construction in the U.S. slumped 8.4 percent in January, year on year, dropping for the first time since October. Multifamily starts were down by 13.5 percent, according to commerce department data. The pullback followed a 16-percent surge in home starts in December, leading some economists to believe that some construction was advanced to......
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EXISTING HOME SALES FALL AS PRICES SET A NEW JANUARY RECORD
In January, sales of existing U.S. homes fell 4.9 percent below December’s number, the National Association of Realtors (NAR) reported. The drop was almost twice the 2.6-percent decline analysts had expected.
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SPECIAL REPORT: THE U.S. HOUSING BLUES
In both 2023 and 2024, U.S. home sales languished at their lowest levels since 1995, with sales last month 20 percent below the same period in 2019, the Financial Times reported…
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