Tag Archive for ‘mortgage rates’

Refinancing Activity Soars

The Mortgage Bankers Association’s Weekly Application Survey shows a weekly increase in the Market Composite Index by 15.1% on a seasonally adjusted basis. The Refinance Index soared 26.0% from the previous week and the Purchase index decreased 2.7%. Looking at the Refinance series since its inception, the latest 10-week sprint of over 160% is the largest since January 2009 when… Read More ›

Pending Home Sales Rebound in January

Following a 4.3% slump in December, pending home sales saw a strong monthly gain in January, supported by solid job growth and low mortgage rates. The Pending Home Sales Index (PHSI), reported by the National Association of Realtors (NAR), is a forward-looking indicator based on signed contracts. The PHSI grew 5.2% from 103.4 in December to 108.8 in January, the… Read More ›

Existing Home Sales Slip But Remain Solid

After hitting a near two-year high in December, existing home sales, as reported by the National Association of Realtors (NAR), dropped in January amid tight inventory and rising prices. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, fell 1.3% to a seasonally adjusted annual rate of 5.46 million in January. However, on a year-over-year basis, sales were 9.6%… Read More ›

Pending Home Sales Tumble in December

Pending home sales unexpectedly dropped in December as housing shortage has offset the benefit of lower mortgage rates. The Pending Home Sales Index (PHSI), reported by the National Association of Realtors (NAR), is a forward-looking indicator based on signed contracts. The PHSI fell 4.9% from 108.5 in November to 103.2 in December, the lowest reading since March 2019. However, sales… Read More ›

Existing Home Sales End Year with Solid Gain

After a slight decline last month, existing home sales, released by the National Association of Realtors (NAR), surged to near two-year high in December. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, rose 3.6% to a seasonally adjusted annual rate of 5.54 million in December, the highest level since February 2018. On a year-over-year basis, sales were 10.8%… Read More ›

Pending Home Sales Decline in October

After hitting a nearly two-year high last month, pending home sales fell slightly but remained solid in October. The Pending Home Sales Index (PHSI), reported by the National Association of Realtors (NAR), is a forward-looking indicator based on signed contracts. The PHSI declined 1.7% from 108.6 in September to 106.7 in October. However, sales were still 4.4% higher than a… Read More ›

Existing Home Sales Rebound in October

Despite the slowdown last month, existing home sales, released by the National Association of Realtors (NAR), climbed more than expected in October. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, rose 1.9% to a seasonally adjusted annual rate of 5.46 million in October. On a year-over-year basis, sales were 4.6% higher than a year ago. The first-time buyer… Read More ›

Pending Home Sales Hit 21-month High in September

Benefitting from lower mortgage rates, pending home sales increased for the second straight month in September. The Pending Home Sales Index (PHSI), reported by the National Association of Realtors (NAR), is a forward-looking indicator based on signed contracts. The PHSI rose 1.5% from 107.1 in August to 108.7 in September, highest level since December 2017. On a year-over-year basis, sales… Read More ›

Existing Home Sales Disappoint in September

After reaching 17-month high last month, existing home sales, released by the National Association of Realtors (NAR), fell more than expected in September despite low mortgage rates. Total existing home sales, including single-family homes, townhomes, condominiums and co-ops, dropped 2.2% to a seasonally adjusted annual rate of 5.38 million in September. However, sales were still 3.9% higher than a year ago…. Read More ›