Eye On Housing
Per the Mortgage Bankers Association’s (MBA) survey through the week ending August 5th, total mortgage activity increased slightly and the average 30-year fixed-rate mortgage (FRM) rate rose four basis points to 5.47%. The FRM rate has declined 35 bps over the past month but remains roughly 2.5 percentage points higher than it was a year ago. The Market Composite Index,… Read More ›
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 ›
The Mortgage Bankers Association’s (MBA) latest Weekly Application shows a slight decrease in applications for the week ending July 24, 2020. The Market Composite Index decreased by 0.8% from the previous week on a seasonally adjusted basis. Refinancing activity, one of its determinants, decreased by 0.4% from the previous week, while purchasing activity decreased slightly more by 1.5%. The MBA’s… Read More ›
In the latest tally of mortgage activity, for the week ending November 29, 2019, the Mortgage Bankers Association’s Weekly Application Survey showed a 7.5% drop from the previous week in conventional mortgage activity, which includes both purchases and refinances, on a seasonally adjusted basis. Overall, the market composite index, which includes conventional mortgages, saw a 9.2% increase on a seasonally… Read More ›
Of the 848,000 single-family homes started in the U.S. in 2017, roughly 79,000 were nonmetropolitan—that is, they were built outside one of the officially-defined metropolitan areas—as reported in a recent NAHB study, At 79,000, nonmetropolitan single-family starts were up 40 percent from the trough in 2011, compared to a 97 percent for single-family starts overall. The NAHB study is based on territory… Read More ›
As has been discussed, information compiled by Freddie Mac shows that mortgage rates reversed coursed in December. The 30-year FRM – Commitment rate, which had been increasing since August, fell by 23 basis points to 4.64 percent from 4.87 percent in November. The Federal Housing Finance Agency reported that the contract rate for newly-built homes, inched up two basis points… Read More ›
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 ›
S&P Dow Jones Indices released the Case-Shiller U.S. National Home Price Index for July. The report indicates that house price appreciation continues. The U.S. National Home Price Index rose at a seasonally adjusted annual growth rate of 5.7% in July, following the 4.4% rate of growth in June. The Home Price Index released by the Federal Housing Finance Agency (FHFA)… Read More ›
Information released by the Mortgage Bankers’ Association (MBA) indicates that the share of all 1-4 family mortgage loans past due has returned to a level of normality. According to the MBA’s National Delinquency Survey, the share of all 1-4 family mortgages considered past due fell by 14 basis points to 4.52 percent. One year ago 4.99 percent of loans were… Read More ›
According to the Federal Reserve Board’s first quarter of 2016 release of its Financial Accounts of the United States report, household holdings of real estate, measured on a not seasonally adjusted basis, totaled $22.524 trillion in the first quarter of 2016, $1.140 trillion higher than its level in the first quarter of 2015, $21.113 trillion. At the same time, home mortgage debt… Read More ›