October 5, 2023 Mortgage rates maintained their upward trajectory as the 10-year Treasury yield, a key benchmark, climbed. Several factors, including shifts in inflation, the job market and uncertainty around the Federal Reserve’s next move, are contributing to the highest … Continue reading
For Week Ending September 23, 2023 New-home construction recently fell to a 3-year low, as higher mortgage rates take their toll on homebuilders, impacting affordability and causing production to slow. According to the U.S. Census Bureau, housing starts dropped 11.3% … Continue reading
September 28, 2023 The 30-year fixed-rate mortgage has hit the highest level since the year 2000. However, unlike the turn of the millennium, house prices today are rising alongside mortgage rates, primarily due to low inventory. These headwinds are causing … Continue reading
For Week Ending September 16, 2023 Single-family homes are shrinking, as U.S. homebuilders respond to increased demand for smaller, more affordable homes. According to the U.S. Census Bureau, median single-family square floor area declined 2.9% to 2,191 square feet in … Continue reading
September 21, 2023 Mortgage rates continue to linger above seven percent as the Federal Reserve paused their interest rate hikes. Given these high rates, housing demand is cooling off and now homebuilders are feeling the effect. Builder sentiment declined for … Continue reading
