For Week Ending May 14, 2022 With home prices and mortgage rates continuing to rise, down payments are increasing nationwide, as buyers aim to lower their monthly mortgage costs and make their offer more attractive to sellers. According to Realtor.com, … Continue reading
May 19, 2022 Economic uncertainty is causing mortgage rate volatility. As a result, purchase demand is waning, and homebuilder sentiment has dropped to the lowest level in nearly two years. Builders are also dealing with rising costs, meaning this posture … Continue reading
Both pending and closed home sales were down about 9.0 percent from last April Inventory was down 9.2 percent to 5,758 units, the twenty-fifth consecutive month of declines Median Sales Price reached a record $370,000, up 10.0 percent from last … Continue reading
For Week Ending May 7, 2022 Demand for adjustable-rate mortgages (ARMs) is rising, as buyers look to mitigate higher monthly payments caused by record-high sales prices and surging mortgage interest rates. Although less popular than fixed rate mortgages, ARMs offer … Continue reading
May 12, 2022 Homebuyers continue to show resilience even though rising mortgage rates are causing monthly payments to increase by about one-third as compared to a year ago. Several factors are contributing to this dynamic, including the large wave of … Continue reading
