Eye On Housing
Author Archives
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November 30-Year Mortgage Rate Data
Information compiled by Freddie Mac shows that mortgage rates continued to increase in the fall. The 30-year FRM – Commitment rate, inched up by four basis points to 4.87 percent from 4.83 percent in October. With the November increase, the 30-year FRM – Commitment rate, was at the highest level since February 2011. As a result of rising home costs,… Read More ›
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West Leads in Job Gains in November
On an annual basis, total nonfarm employment in November increased by 2.5 million jobs, which is a 1.7% increase compared to November 2017. During this time, total nonfarm employment in the Western region increased by 2.3% and in the Southern region by 2.2%. The Midwest and the Northeast recorded the lowest gains at 1.3% during this time. According to the… Read More ›
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Southwest and the Plains Led GDP Growth in the Second Quarter of 2018
Real gross domestic product (GDP) increased in all 50 states and the District of Columbia, in the second quarter 2018 compared to the first quarter of 2018. U.S. Bureau of Economic Analysis reported the real GDP growth rates, measured on a seasonally adjusted annual rate basis, ranged from 6.0% in Texas to 2.5% in Delaware. Boosted by the growth in majority… Read More ›
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Multifamily Permits Decline Across Midwest, Northeast, and West
Over the first ten months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 739,121. On a year-over-year basis, this is a 5.7% increase over the October 2017 level of 699,374. The preliminary results from the New Residential Construction Survey are exactly the same, year-to-date single-family permits over the first ten months of 2018 was, 738,800… Read More ›
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30-Year Mortgage Rate At The Highest Level In Nearly Eight Years
Information compiled by Freddie Mac shows that mortgage rates are continuing to increase after a slight slowdown in the summer months. The 30-year FRM – Commitment rate, inched up considerably by 20 basis points to 4.83 percent from 4.63 percent in September. The October increase of the 30-year FRM – Commitment rate, is the highest level since the beginning of… Read More ›
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Housing Affordability Causes Ongoing Weakness for Home Sales
Contracts for new, single-family home sales declined in October, falling 8.9% to a 544,000 seasonally adjusted annual rate according to estimates from the joint release of HUD and the Census Bureau. The decline came off an upwardly revised September estimate, which was increased from an initial reading of 553,000 to a new estimate of 597,000. The October estimate was the lowest annual pace since… Read More ›
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Single-Family Starts Stable in October as Caution Grows
Total housing starts posted a 1.5 percent increase in October (1.23 million units) compared to a revised September estimate of 1.21 million units. However, total starts are 2.9 percent below lower than October 2017. Despite the recent market softness, 2018 is still shaping up to be the best year since the recession. Total housing starts are 5.6 percent higher for… Read More ›
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West Leads in Job Gains in October
Over the year, total nonfarm employment in October increased by 2.5 million jobs which is a 1.7% increase compared to October 2017. During this time, total nonfarm employment in the Western region increased by 2.3% and in the Southern region by 2.1%. The Midwest recorded the lowest gains at 1.4% during this time. According to the Bureau of Labor Statistics,… Read More ›
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Single-Family Permits: Declines in the Midwest and Northeast
Over the first nine months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 664,665. On a year-over-year basis, this is a 5.7% increase over the September 2017 level of 628,858. The preliminary results from the New Residential Construction Survey are similar, year-to-date single-family permits over the first nine months of 2018 was, 663,800 which is… Read More ›
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30-Year Mortgage Rate Continued to Increase in September
Information compiled by Freddie Mac shows that mortgage rates are continuing to increase after a slight slowdown in the summer months. The 30-year FRM – Commitment rate, inched up by eight basis points to 4.63 percent from 4.55 percent in August. The September increase of the 30-year FRM – Commitment rate, is at its peak level since the beginning of… Read More ›