For Week Ending August 10, 2024 Homebuyer preferences for smaller homes continue to influence builder behavior. According to the U.S. Census Bureau, the typical new single-family home under construction had a median floor area of 2,139 square feet in the … Continue reading
Listings up but sales down as buyers eye lower mortgage rates ahead Signed purchase agreements fell 4.2%; new listings up 7.2% The median sales price increased 2.7% to $385,000 Market times rose 24.1% to 36 days; inventory up 11.4% to … Continue reading
August 15, 2024 While rates increased slightly this week, they remain more than half a percent lower than the same time last year. In 2023, the 30-year fixed-rate mortgage nearly hit 8 percent, slamming the brakes on the housing market. … Continue reading
For Week Ending August 3, 2024 The average rate on a 30-year mortgage fell to 6.73% the week ending August 1, 2024, the lowest level since early February, according to Freddie Mac. As a result, mortgage applications increased 6.9% on … Continue reading
August 8, 2024 Mortgage rates plunged this week to their lowest level in over a year following the likely overreaction to a less than favorable employment report and financial market turbulence for an economy that remains on solid footing. The … Continue reading
