Eye On Housing
Author Archives
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Mortgage Activity Up in ARMs
Per the Mortgage Bankers Association’s (MBA) latest month’s surveys (the week ending May 6), the 30-year fixed-rate mortgage (FRM) rate rapidly grew to 5.53%, marking the steepest interest rate increase on record. The Market Composite Index, a measure of mortgage loan application volume, increased by 2% on a seasonally adjusted basis from one week earlier, despite a general downward trend. … Read More ›
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Banks Report Weaker Demand for Home Loans
In the first quarter of 2022, the Federal Reserve Board’s Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices showed a significant net share of banks reporting more relaxed lending standards and weaker demand for most categories of residential real estate (RRE) loans. “Significant” net shares of banks reported weaker demand for all RRE loan categories other than subprime… Read More ›
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Consumer Credit Increases in First Quarter
In the first quarter of 2022, non-real estate secured consumer credit, per the Federal Reserve’s latest G.19 Consumer Credit report, grew at a seasonal adjusted annual rate of 9.7%, with revolving debt growing at 21.4% and nonrevolving at 6.1%. Total consumer credit currently stands at $4.5 trillion, with $1.1 trillion in revolving debt and $3.4 trillion in non-revolving debt. From… Read More ›
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Metro Area Populations Exhibit Minimal Growth From 2020
The Census Bureau recently released its 2021 Metropolitan Statistical Area (MSA) annual population estimates. Between 2020 and 2021, 251 (65%) of the 384 MSAs within the 50 states and the District of Columbia experienced population increases, albeit small on percentage terms. The MSAs’ combined total population increased from 286,195,308 in 2020 to 286,472,775 in 2021, approximately a 0.1% increase. Dallas-Fort… Read More ›
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Married Couple Homeownership
NAHB analysis of the Current Population Survey’s (CPS) 2020 Annual Social and Economic Supplement (ASEC) estimates the national homeownership rate at 66.4%. This analysis provides a further breakdown of this rate through the lens of married couple homeownership, which we estimate at 79% for 2020. In addition to the overall married couple homeownership rate, two subcategories’ homeownership rates are estimated,… Read More ›
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Mortgage Rates Reach 3-Year High
In the past month, total mortgage activity, as measured by the Mortgage Bankers Association’s (MBA) Market Composite Index, underwent a series of weekly declines, decreasing in the latest week by 6.3 percent. The latest week’s survey is for the week ending April 1. The latest week’s activity consisted of a 3.4 percent decrease in purchasing and a 9.9 percent decrease… Read More ›
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Rural Markets’ Home Building Market Shares in 2021
In the fourth quarter of 2021, the market shares of single-family and multifamily home building in rural submarkets, as identified by NAHB’s Home Building Geography Index (HBGI), increased from the fourth quarter of 2020. Evolving market conditions were primarily responsible for the market share gains. Rural areas’ home building market share changes indirectly reflected differing growth rates among all regional… Read More ›
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Household Real Estate in the Fourth Quarter
The latest results from the Federal Reserve’s Z.1 Financial Accounts of the United States, i.e., the Flow of Funds, show that in 2021, the aggregate market value of all owner-occupied real estate in the United States experienced the largest quarterly increases on record. From $36.8 trillion in the third quarter of 2021, the value of owner-occupied real estate increased by… Read More ›
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Total Mortgage Activity Varies in Latest Month
In the past month, total mortgage activity, as measured by the Mortgage Bankers Association’s (MBA) Market Composite Index, underwent a series of weekly declines, but increased in the latest week by 8.5 percent. The latest week’s survey is for the week ending March 4. The latest week’s activity consisted of an 8.6 percent increase in purchasing and an 8.5 percent… Read More ›
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Single-family Regional Growth Decelerates in Second Half of 2021
Per the latest results of NAHB’s Home Building Geography Index (HBGI), single-family home building showed higher growth rates across all regional submarkets in the fourth quarter of 2021, relative to the fourth quarter of 2020. Quarterly growth, however, trended downwards for all regions in the third and fourth quarters of 2021. Supply-side constraints and expectations of rising interest rates, particularly… Read More ›