Housing News Archive

Wed, 8:41 PM

Mortgage Applications Technically Improve - Wed, 8:41 PM

First thing's first, mortgage applications increased last week, both for purchases and refinances! It was the first improvement for refi demand since mid September, when rates were well into thei...

Tue, 9:09 PM

Two Ways to Look at Residential Construction Slowdown - Tue, 9:09 PM

The most common interval for scheduled economic data is "monthly." That means that things like inflation, sentiment, job counts, unemployment, retail sales, and many other economic metrics ...

Mon, 8:28 PM

Like Many Housing Metrics, Builder Confidence is Just Waiting For Lower Rates - Mon, 8:28 PM

Historically low interest rates may not have guaranteed historically high levels of housing activity, but exceptionally high rates have definitely muted activity in a measurable way. We'v...

Wed, November 13, 8:11 PM

Mortgage Applications Keep Kicking The Can - Wed, November 13, 8:11 PM

It's not entirely clear if it's a can or the proverbial bucket. All we know is that mortgage applications have been kicking it. There's no great way to make the news interesting now t...

Wed, November 6, 7:36 PM

Mortgage Demand Regressing Amid Rapid Rate Spike - Wed, November 6, 7:36 PM

In today's weekly mortgage application survey from the MBA, the average 30yr fixed mortgage rate only rose from 6.73 to 6.81%. Meanwhile, daily average rates are already back over 7%. ...

Wed, October 23, 7:15 PM

Existing Home Sales Update: Still Bad - Wed, October 23, 7:15 PM

Housing was chugging right along in early 2020, then covid happened. Housing experienced lots of unexpected volatility with the most important development being a huge increase in demand an...

Wed, October 23, 6:53 PM

Mortgage Apps Aren't Crashing. They're Just Being Logical - Wed, October 23, 6:53 PM

The Mortgage Bankers Association (MBA) keeps track of applications for purchase and refi mortgages every week. Purchase apps are slower moving, less responsive to rates, and generally bounc...

Fri, October 18, 7:01 PM

Mixed Signals in New Home Construction Data - Fri, October 18, 7:01 PM

The Census Bureau's New Residential Construction report held few surprises for the month of September despite some mixed signals. Building permits, which often foreshadow future constructio...

Wed, September 4, 12:14 PM

Purchase Applications Respond to Another Small Rate Dip - Wed, September 4, 12:14 PM

Interest rates continued their slow decline last week while application volume is inching up almost as slowly. The Mortgage Bankers Association (MBA) reports a 1.6 percent increase in its seaso...

Thu, August 29, 3:54 PM

Pending Home Sales Set a New Record, but not in a Good Way - Thu, August 29, 3:54 PM

Home sale numbers continue to retreat and in July the National Association of Realtors’® (NAR) Pending Home Sales Index (PHSI) fell to its lowest level…. Ever! Based on signed sales contracts...

Wed, August 28, 12:04 PM

Mortgage Apps Stall as Borrowers Seem to be Waiting on Fed - Wed, August 28, 12:04 PM

The mortgage market seemed to be in a wait-and-see mode last week as the Federal Reserve signaled a might, maybe, we are thinking about it, approach to a September rate cut. In the interim, mos...

Tue, August 27, 3:51 PM

Slowing Home Price Gains Still Outstrip Inflation - Tue, August 27, 3:51 PM

Two major home price indices show home price appreciation is still running well above historical norms. However, increases in the S&P CoreLogic Case-Shiller indices and the Federal Housing Fi...

Thu, August 22, 6:39 PM

Are Existing Home Sales Done Sliding? - Thu, August 22, 6:39 PM

Existing Homes (the jargon word for a home that has already been owned and occupied) represent a much larger piece of the home sales pie compared to new homes, but the series has been flagg...

Wed, August 21, 12:21 PM

Last Week's Refinancing Surge Quickly Fades - Wed, August 21, 12:21 PM

Two weeks ago, we saw a sudden surge in refinancing activity. The Mortgage Bankers Association (MBA) reported that, during the week ended August 9, its Refinancing Index soared by almost 35 perce...

Fri, August 16, 4:12 PM

Housing Starts and Permits Stalling as Builders Face Headwinds - Fri, August 16, 4:12 PM

Residential construction slowed in July. Both the rate of permitting and of housing starts were down from the prior month and starts were the worst in more than four years. The U.S. Census Bure...

Thu, August 15, 2:31 PM

Builder Confidence Languishing, But Timing is Partly to Blame - Thu, August 15, 2:31 PM

The record will show that today's Housing Market Index (aka "builder confidence") from the National Association of Homebuilders (NAHB)/Wells Fargo fell to 39 from 41 last month. That's the ...

Wed, August 14, 12:06 PM

Mortgage Application Volume Soars, Refi Index Up 35% - Wed, August 14, 12:06 PM

A second week of lower interest rates appeared to send homeowners scrambling to refinance their higher-rate mortgages assumed over the last few years. The Mortgage Bankers Association said its ...

Wed, August 7, 7:49 AM

Lower Rates Spark a Jump in Refi Applications - Wed, August 7, 7:49 AM

A drop in interest rates pushed mortgage applications sharply higher last week although nearly all the gains belonged to refinancing. The Mortgage Bankers Association (MBA) said its Market Comp...

Wed, July 31, 3:50 PM

June Pending Home Sales Benefit From Inventory Growth - Wed, July 31, 3:50 PM

Signed contracts for home sales increased in June, a broad-based improvement seen in all four major regions of the country. The National Association of Realtors® (NAR) said its Pending Home Sales...

Wed, July 31, 12:52 PM

Mortgage Apps and Rates Stall, Making Borrowers Hesitate - Wed, July 31, 12:52 PM

Interest rates were largely unchanged during the week ended July 26. The Mortgage Bankers Association (MBA) says its Market Composite Index, a measure of mortgage loan application volume, decr...

Wed, July 24, 4:03 PM

New Home Sales Post Small Decline - Wed, July 24, 4:03 PM

Interest rates and prices continued to curtail home sales in June. The Census Bureau and the Department of Housing and Urban Development reported on Wednesday that new home sales declined again ...

Wed, July 24, 12:42 PM

Mortgage App Volume in a Wait and See Mood? - Wed, July 24, 12:42 PM

Home buyers remained on the sidelines as interest rates drifted lower, perhaps paying attention to the Federal Reserve’s musings about future cuts. The Mortgage Bankers Association (MBA) report...

Tue, July 23, 4:04 PM

Existing Home Sales: Is the Market Shifting Toward Buyers? - Tue, July 23, 4:04 PM

Existing home sales fell in June, but the median sales price hit a record high as it had also done in May . The National Association of Realtors® said sales of previously owned single-family hou...

Wed, July 17, 12:35 PM

Refinancing Volume Highest in Nearly Two Years - Wed, July 17, 12:35 PM

Mortgage application activity staged a moderately strong recovery from the previous holiday-shortened week, although the recovery was attributable solely to the refinance side of the business. ...

Tue, July 16, 7:09 PM

Rates Continue to Depress Builders as Well as Sales - Tue, July 16, 7:09 PM

The National Association of Home Builders (NAHB) blamed high interest for lagging new home sales and the resulting dampened industry confidence in building them. NAHB chief economist Robert Deitz...

Wed, July 10, 12:06 PM

Higher Rates Suppress Mortgage Application Volume - Wed, July 10, 12:06 PM

Mortgage applications declined slightly on a seasonally adjusted basis last week but plummeted on an unadjusted basis during the July 4th week. The week’s results include an additional adjustment...

Wed, July 3, 12:20 PM

Refinance Volume Proves Brighter than Last Year - Wed, July 3, 12:20 PM

Higher interest rates knocked mortgage application volume back last week. But, while purchase volume appears to lose ground year-over-year, refinancing activity is steadily improving compared t...

Wed, June 26, 3:28 PM

Inventories Expand as New Home Sales Fall - Wed, June 26, 3:28 PM

May turned out to be a dismal month for home sales. Sales of existing homes dipped a modest 0.7 percent from April, but new home sales fared far worse. The U.S. Census Bureau and Department of Ho...

Wed, June 26, 12:08 PM

Mortgage Application Volume Not Impressed by Lower Rates - Wed, June 26, 12:08 PM

Slightly lower mortgage rates failed to impress potential borrowers last week. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage loan application volume, t...

Tue, June 25, 4:01 PM

Has the Home Price Slide Ended? - Tue, June 25, 4:01 PM

Two major home price indexes had very different conclusions about the growth of annual home prices in April, but each showed a significant month-over-month uptick. The S&P CoreLogic C...

Thu, June 20, 3:45 PM

Housing Permits and Starts Drift Lower - Thu, June 20, 3:45 PM

The rate of both construction permitting and residential construction starts fell in May, with permitting losing ground for the third straight month. The U.S. Census Bureau and the Department of ...

Thu, June 20, 12:31 PM

Purchase Activity Rises, MBA Forecasts More of Same - Thu, June 20, 12:31 PM

There was a slight increase in mortgage application volume during the week ended June 14. For a change, it was accounted for by the home purchasing component. The Mortgage Bankers Associ...

Wed, June 12, 12:14 PM

Mortgage Application Volume Bouncing Back as Rates Fall - Wed, June 12, 12:14 PM

Mortgage application activity recovered nicely last week from a downturn during the previous holiday-shortened week, helped by a temporary drop in interest rates . The Mortgage Bankers Associat...

Wed, June 5, 11:00 AM

First-Time Homebuyers are Shoring up Market - Wed, June 5, 11:00 AM

Interest rates , along with the distraction of a three-day weekend, further slowed the mortgage market last week. Tho Mortgage Bankers Association (MBA) reports that its Market Composite Index, a...

Thu, May 30, 4:30 PM

Pending Home Sales Post a 7.7 Percent Drop - Thu, May 30, 4:30 PM

Pending home sales fell another 7.7 percent in April according to the National Association of Realtors® (NAR). NAR’s Pending Home Sales Index (PHSI) for the month was 72.3 compared to 78.3 in Ma...

Wed, May 29, 12:07 PM

Rates Push Application Volume Back to March Levels - Wed, May 29, 12:07 PM

Higher interest rates helped to wipe out three weeks of gains in mortgage application activity. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that activit...

Wed, May 22, 7:17 PM

Existing Home Inventories Inching Higher - Wed, May 22, 7:17 PM

The inventory of existing homes for sale increased from March to April, but the increased availability didn’t bolster sales. The National Association of Realtors® (NAR) said pre-owned single-fami...

Wed, May 22, 12:54 PM

Mini-boom in Refi Apps Continues - Wed, May 22, 12:54 PM

Interest rates hit a seven-week low last week, boosting the level of refinancing applications for the third straight week, but those for home purchases continued to recede. The Mortgage Bankers ...

Thu, May 16, 6:55 PM

Builders Are Finishing More and More Homes, But Permits Have Been Flat - Thu, May 16, 6:55 PM

The latest data on new residential construction from the U.S. Census Bureau paints a somewhat mixed picture of the housing market. While housing completions surged in April, Housing starts only i...

Wed, May 15, 5:54 PM

Persistently High Rates Quash Builder Confidence - Wed, May 15, 5:54 PM

Builders’ confidence in the new home market retreated this month , the first decline since last November. The National Association of Home Builders (NAHB) reports that the NAHB/Wells Fargo Housin...

Wed, May 15, 12:21 PM

Refi Index Takes Advantage of Rate Drop - Wed, May 15, 12:21 PM

Lower interest rates gave a lift to refinancing activity for the second week but failed to do the same for those financing home purchases. The Mortgage Bankers Association said its Market Compo...

Wed, May 8, 12:16 PM

Economic Data Cools Rates, Boosts Application Volume - Wed, May 8, 12:16 PM

Lower interest rates allowed mortgage activity to rise modestly during the week ended May 3. It was the first increase in three weeks. The Mortgage Bankers Association said its Market Composite...

Wed, May 1, 1:00 PM

ARM Loan Share Rises as Borrowers Seek Affordability - Wed, May 1, 1:00 PM

Rising interest rates continue to constrain mortgage borrowing. The Mortgage Bankers Association says its Market Composite Index, a measure of loan application volume, decreased 2.3 percent on ...

Tue, April 30, 4:24 PM

Home Prices Apparently Don't Care About High Rates - Tue, April 30, 4:24 PM

Home price increases continued to accelerate in February even as interest rates also moved higher. Both the S&P CoreLogic Case-Shiller Indices and the Housing Market Index (HMI) produced by...

Wed, April 24, 12:36 PM

Mortgage App Volume Declines Across the Board - Wed, April 24, 12:36 PM

The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, fell back for the first time in three weeks during the week ended Aril 19 as...

Tue, April 23, 4:47 PM

Spring New Home Sales Prove Resilient to Higher Rates - Tue, April 23, 4:47 PM

Existing home sales posted strong gains in February while sales of new homes slipped slightly. In March each category switched directions. The U.S. Census Bureau and the Department of Housing and...

Wed, April 17, 12:35 PM

Mortgage App Volume Ticks Higher Despite Higher Rates - Wed, April 17, 12:35 PM

Mortgage interest rates rose for the second straight week, and so did the volume of mortgage applications. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of t...

Tue, April 16, 3:41 PM

Residential Construction Fall and Builder Confidence Flattens in Uncertain Rate Environment - Tue, April 16, 3:41 PM

While builder confidence in the market for new residential construction improved in March, it remained flat in April and residential construction numbers showed a decline in momentum as well. R...

Wed, April 10, 12:39 PM

Borrowers Pick Up Pace of Refinancing - Wed, April 10, 12:39 PM

The interest rate for conforming 30-year fixed-rate mortgages (FRM) again topped 7 percent last week, but mortgage application activity still squeezed out a tiny gain. The Mortgage Bankers ...

Wed, April 3, 12:16 PM

Persistent High Rates Have Application Volume Stuck in Neutral - Wed, April 3, 12:16 PM

Mortgage application activity drifted lower again last week , the third straight week of mostly fractional declines. The Mortgage Bankers Association’s Market Composite Index, a measure of applic...