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Existing-home sales inch higher in September
After three straight monthly declines, existing-home sales slightly reversed course in September, but ongoing supply shortages and recent hurricanes muted overall activity and caused sales to fall back on an annual basis, according to the National Association of Realtors®. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 0.7% to a seasonally adjusted annual rate of 5.39 million in September from 5.35 million in August. For more, click here...
10/20/2017


Mortgage rates tick down
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey, showing the average 30-year fixed mortgage rate ticking down this week. 30-year fixed-rate mortgage (FRM) averaged 3.88% with an average 0.5 point for the week ending October 19, down from last week when it averaged 3.91%. A year ago at this time, the 30-year FRM averaged 3.52%. 15-year FRM this week averaged 3.19% with an average 0.5 point, down from last week when it averaged 3.21%. A year ago at this time, the 15-year FRM averaged 2.79%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.17% this week with an average 0.4 point, up from last week when it averaged 3.16%. A year ago at this time, the 5-year ARM averaged 2.85%. For more, click here...
10/19/2017


U.S. housing starts hit one-year low in September
U.S. homebuilding fell to a one-year low in September as Hurricanes Harvey and Irma disrupted the construction of single-family homes in the South, suggesting housing probably remained a drag on economic growth in the third quarter. Housing starts decreased 4.7% to a seasonally adjusted annual rate of 1.127 million units, the Commerce Department said on Wednesday. That was the lowest level since September 2016 and marked the third monthly decline in starts. For more, click here...
10/18/2017


Mortgage applications increase
Mortgage applications increased 3.6% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 13. This week's results included an adjustment for the Columbus Day holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 3.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 7% compared with the previous week. The Refinance Index increased 3% from the previous week. The seasonally adjusted Purchase Index increased 4% from one week earlier. The unadjusted Purchase Index decreased 6% compared with the previous week and was 9% higher than the same week one year ago. For more, click here...
10/18/2017


Builder confidence rises in October
Builder confidence in the market for newly-built single-family homes rose four points to a level of 68 in October on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This was the highest reading since May. “This month’s report shows that home builders are rebounding from the initial shock of the hurricanes,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. “However, builders need to be mindful of long-term repercussions from the storms, such as intensified material price increases and labor shortages.” For more, click here...
10/17/2017


Mortgage rates jump up
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey, showing the average 30-year fixed mortgage rate posting its biggest week-over-week increase since July 2017. 30-year fixed-rate mortgage (FRM) averaged 3.91% with an average 0.5 point for the week ending October 12, up from last week when it averaged 3.85%. A year ago at this time, the 30-year FRM averaged 3.47%. 15-year FRM this week averaged 3.21% with an average 0.5 point, up from last week when it averaged 3.15%. A year ago at this time, the 15-year FRM averaged 2.76%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.16% this week with an average 0.4 point, down from last week when it averaged 3.18%. A year ago at this time, the 5-year ARM averaged 2.82%. For more, click here...
10/12/2017


Canada new-home prices rise 0.1% in August
Canadian new house prices edged upward in August, as activity in the country's two hottest markets--the Toronto area and Vancouver--was unchanged from the previous month. Canada's new housing price index rose 0.1% in August on a month-over-month basis, Statistics Canada said Thursday. That was short of market expectations for a 0.2% gain, according to economists at Royal Bank of Canada. For more, click here...
10/12/2017


Mortgage applications decrease
Mortgage applications decreased 2.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 6. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 2% compared with the previous week. The Refinance Index decreased 4% from the previous week. The seasonally adjusted Purchase Index decreased 0.1% from one week earlier. The unadjusted Purchase Index increased 0.1% compared with the previous week and was 7% higher than the same week one year ago. For more, click here...
10/11/2017


Proposed 80-story wooden skyscraper may be preview of future
In a city lined with pathbreaking towers and skyscrapers, the River Beech project, if it comes to fruition, may earn its own chapter in the history of Chicago architectural marvels. That’s because this proposed 80-story tower, a joint research project between Cambridge University, Perkins + Will, and Thornton Tomasetti would be a tall wooden tower, a landmark in the accelerating development of high-tech timber as a new type of 21st century building material. For more, click here...
10/10/2017


Canadian housing starts, permits fall
Canadian housing starts dipped in September, but did not fall as much as expected, capping another quarter of strong home building growth. A drop in August building permits, however, suggested the long boom is cooling, separate reports showed on Tuesday. Groundbreaking on homes edged slightly lower in September to 217,118 units from August's upwardly revised 225,918 as a 10.7% drop in multiple starts, typically condos, outweighed an 8.2% climb in single starts, the Canada Mortgage and Housing Corporation said. For more, click here...
10/10/2017


Mortgage rates rise
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the average 30-year fixed mortgage rate ticking up to its highest mark in six weeks. 30-year fixed-rate mortgage (FRM) averaged 3.85% with an average 0.5 point for the week ending October 5, up from last week when it averaged 3.83%. A year ago at this time, the 30-year FRM averaged 3.42%. 15-year FRM this week averaged 3.15% with an average 0.5 point, up from last week when it averaged 3.13%. A year ago at this time, the 15-year FRM averaged 2.72%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.18% this week with an average 0.4 point, down from last week when it averaged 3.20%. A year ago at this time, the 5-year ARM averaged 2.80%. For more, click here...
10/5/2017


Mortgage applications decrease slightly
Mortgage applications decreased 0.4% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 29. The Market Composite Index, a measure of mortgage loan application volume, decreased 0.4% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1% compared with the previous week. The Refinance Index decreased 2% from the previous week. The seasonally adjusted Purchase Index increased 1% from one week earlier. The unadjusted Purchase Index increased 1% compared with the previous week and was 5% higher than the same week one year ago.
10/4/2017


Home price index jumps nearly 7% in August
Home prices rose 6.9% in August compared with the same month a year ago, according to CoreLogic. The research firm had previously forecast a rise of 5%, more in line with the index jumps in for the first three months of the year. The data include sales of distressed properties. Month over month, August prices rose 0.9%, including distressed home sales. CoreLogic expects August housing prices to rise another 4.7% year over year by August 2018 and to rise by 0.1% month over month. For more, click here...
10/3/2017


U.S. construction spending rebounded 0.5% in August
U.S. construction spending rebounded 0.5% in August after two months of contraction, helped by strength in home building, and commercial and government construction. The climb came after declines of 1.2% in July and 0.8% in June, the Commerce Department reported Monday. It was the best showing since a 1.6% rise in May. Still, the August gain was not enough to recoup the losses of the past two months, leaving spending 1.5% below the May level. For more, click here...
10/2/2017


'Timberscrapers' could soon dominate urban skylines
They just don't make 'em like the Sakyamuni Pagoda anymore. Built from wood in 1056 in the Shanxi province of China, the building has remained standing to this day despite seven earthquakes rattling the region within its first 50 years of existence. Since then, it's held up against a slew of seismic events, even when more modern structures have failed. Now, thanks to recent advancements in timber technology, modern architects are rediscovering the benefits of working with wood. For more, click here...
9/29/2017


Housing affordabiilty in Canada worst since 1990
Housing affordability in Canada hit the worst level in 27 years in the second quarter of this year, according to a Royal Bank of Canada report. RBC Economics said in a report Friday that its housing affordability measure for Canada deteriorated for the eighth straight quarter. The Toronto area was the hardest hit, where RBC says affordability declined the most compared to the previous year and hit the worst level ever measured in the city. For more, click here...
9/29/2017


Mortgage rates hold flat
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the average 30-year fixed mortgage rate unchanged from the previous week. 30-year fixed-rate mortgage (FRM) averaged 3.83% with an average 0.6 point for the week ending September 28, the same as last week. A year ago at this time, the 30-year FRM averaged 3.42%. 15-year FRM this week averaged 3.13% with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.72%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.20% this week with an average 0.5 point, up from last week when it averaged 3.17%. A year ago at this time, the 5-year ARM averaged 2.81%. For more, click here...
9/28/2017


Pending home sales fall in August
Pending home sales sank in August for the fifth time in six months, and slower activity in the areas hit hard by Hurricanes Harvey and Irma will likely pull existing sales for the year below the pace set in 2016, according to the National Association of Realtors®. The Pending Home Sales Index, a forward-looking indicator based on contract signings, retreated 2.6% to 106.3 in August from 109.1 in July. The index is now at its lowest reading since January 2016 (106.1), 2.6% below a year ago, and has fallen on an annual basis in four of the past five months. For more, click here...
9/27/2017


Mortgage applications decrease slightly
Mortgage applications decreased 0.5% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 22. The Market Composite Index, a measure of mortgage loan application volume, decreased 0.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1% compared with the previous week. The Refinance Index decreased 4% from the previous week. The seasonally adjusted Purchase Index increased 3% from one week earlier. The unadjusted Purchase Index increased 2% compared with the previous week and was 4% higher than the same week one year ago. For more, click here...
9/27/2017


Home price index up 5.9% in July
Home prices in the U.S. climbed in July, as economists anticipated. The S&P CoreLogic Case-Shiller U.S. National Price Index recorded a 5.9% annual gain, up from 5.8% in June. The national average was 5.1% above the July 2006 peak. Seattle, Portland, and Las Vegas led the 20-city index which rose to a 5.8% year-over-year increase, up from 5.6% the previous month. Expectations were 5.7%, according to a Bloomberg survey. For more, click here...
9/26/2017


Mortgage rates increase after lengthy decline
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey®, showing the average 30-year fixed mortgage rate increasing for the first time in seven weeks. 30-year fixed-rate mortgage (FRM) averaged 3.83% with an average 0.5 point for the week ending September 21, up from last week when it averaged 3.78%. A year ago at this time, the 30-year FRM averaged 3.48%. 15-year FRM this week averaged 3.13% with an average 0.5 point, up from last week when it averaged 3.08%. A year ago at this time, the 15-year FRM averaged 2.76%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.17% this week with an average 0.4 point, up from last week when it averaged 3.13%. A year ago at this time, the 5-year ARM averaged 2.80%. For more, click here...
9/21/2017


Existing-home sales subside 1.7% in August
Existing-home sales stumbled in August for the fourth time in five months as strained supply levels continue to subdue overall activity, according to the National Association of Realtors®. Sales gains in the Northeast and Midwest were outpaced by declines in the South and West. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, retreated 1.7% to a seasonally adjusted annual rate of 5.35 million in August from 5.44 million in July. Last month's sales pace is 0.2% above last August, and is the lowest since then. For more, click here...
9/20/2017


Mortgage applications decrease
Mortgage applications decreased 9.7% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 15. Last week's results included an adjustment for the Labor Day holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 9.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 12% compared with the previous week. The Refinance Index decreased 9% from the previous week. The seasonally adjusted Purchase Index decreased 11% from one week earlier. The unadjusted Purchase Index increased 10% compared with the previous week and was 2% higher than the same week one year ago. For more, click here...
9/20/2017


U.S. housing starts fall for second straight month
U.S. homebuilding fell for a second straight month in August as a rebound in the construction of single-family houses was offset by persistent weakness in the volatile multifamily home segment. The report from the Commerce Department on Tuesday also showed building permits racing to a seven-month high in August. However, permits for single-family homebuilding, which accounts for the largest share of the housing market, dropped. The mixed report suggested housing could remain a drag on economic growth in the third quarter. For more, click here...
9/19/2017


Canadian new-home prices rise on strong Vancouver demand
Canadian new-home prices rose in July as Vancouver saw strong demand from buyers, while prices in Toronto were unchanged for a second month in a row following provincial measures to rein in the market, according to data from Statistics Canada released on Thursday. Nationally, prices were up 0.4% from June, slightly exceeding economists’ forecasts for a gain of 0.3%. Compared to a year ago, prices were up 3.8%. For more, click here...
9/14/2017


Mortgage rates hold at 2017 low
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey, showing average mortgage rates remaining largely unchanged from last week's year-to-date low. 30-year fixed-rate mortgage (FRM) averaged 3.78% with an average 0.5 point for the week ending September 14, the same as last week. A year ago at this time, the 30-year FRM averaged 3.50%. 15-year FRM this week averaged 3.08% with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.77%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.13% this week with an average 0.4 point, down from last week when it averaged 3.15%. A year ago at this time, the 5-year ARM averaged 2.82%. For more, click here...
9/14/2017


Mortgage applications increase
Mortgage applications increased 9.9% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 8. This week’s results included an adjustment for the Labor Day holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 9.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 13% compared with the previous week. The Refinance Index increased 9% from the previous week. The seasonally adjusted Purchase Index increased 11% from one week earlier. The unadjusted Purchase Index decreased 13% compared with the previous week and was 7% higher than the same week one year ago.
9/13/2017


Canadian housing starts post surprising increase in August
Canadian housing starts rose slightly in August, defying the expectations of economists who had been looking for a drop. Canada Mortgage and Housing Corp. reported Monday that the the seasonally adjusted annual rate of housing starts for all areas of Canada was 223,232 units in August, up from 221,974 units in July. Market watchers had been expecting the annual rate of housing starts to come in at 216,000 units for August. For more, click here...
9/11/2017


30-year mortgage rate lowest so far in 2017
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® showing the 30-year fixed mortgage rate dropping to a year-to-date low for the third consecutive week. 30-year fixed-rate mortgage (FRM) averaged 3.78 percent with an average 0.5 point for the week ending September 7, 2017, down from last week when it averaged 3.82 percent. A year ago at this time, the 30-year FRM averaged 3.44 percent. 15-year FRM this week averaged 3.08 percent with an average 0.5 point, down from last week when it averaged 3.12 percent. A year ago at this time, the 15-year FRM averaged 2.76 percent. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.15 percent this week with an average 0.4 point, up from last week when it averaged 3.14 percent. A year ago at this time, the 5-year ARM averaged 2.81 percent. For more, click here...
9/7/2017


Mortgage applications increase
Mortgage applications increased 3.3 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 1, 2017. The Market Composite Index, a measure of mortgage loan application volume, increased 3.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2 percent compared with the previous week. The Refinance Index increased 5 percent from the previous week. The seasonally adjusted Purchase Index increased 1 percent from one week earlier. The unadjusted Purchase Index decreased 1 percent compared with the previous week and was 5 percent higher than the same week one year ago. For more,click here...
9/6/2017


U.S. construction spending drops 0.6% in July
U.S. construction spending fell in July for the third time in four months as strength in home construction was not enough to offset weakness in nonresidential building and government projects. The Commerce Department says construction spending dropped 0.6% in July following an even bigger 1.4%decline in June. For more, click here...
9/1/2017


Pending home sales tick lower in July
Pending homes sales stumbled in July for the fourth time in five months as only the West saw an increase in contract activity, according to the National Association of Realtors®. The Pending Home Sales Index, a forward-looking indicator based on contract signings, decreased 0.8% to 109.1 in July from a downwardly revised 110.0 in June. After last month’s decline, the index is now 1.3% below a year ago and has fallen on an annual basis in three of the past four months. For more, click here...
8/31/2017


Mortgage rates continue to drop
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey®, showing average mortgage rates continuing to move lower. 30-year fixed-rate mortgage (FRM) averaged 3.82% with an average 0.5 point for the week ending August 31, down from last week when it averaged 3.86%. A year ago at this time, the 30-year FRM averaged 3.46%. 15-year FRM this week averaged 3.12% with an average 0.5 point, down from last week when it averaged 3.16%. A year ago at this time, the 15-year FRM averaged 2.77%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.14% this week with an average 0.5 point, down from last week when it averaged 3.17%. A year ago at this time, the 5-year ARM averaged 2.83%. For more, click here...
8/31/2017


Mortgage applications decrease
Mortgage applications decreased 2.3% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending August 25. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.3 % on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4% compared with the previous week. The Refinance Index decreased 2% from the previous week. The seasonally adjusted Purchase Index decreased 3% from one week earlier. The unadjusted Purchase Index decreased 5% compared with the previous week and was 4% higher than the same week one year ago. For more, click here...
8/30/2017


Home price index rises again
The S&P CoreLogic Case-Shiller home price index increased slightly from May to June, while a key composite held steady. National home prices continued a 12-month rise in June, reporting a 5.8% annual gain on the S&P's most broad indicator. This was better than the 5.7% increase expected by economists polled by Reuters, who believed the index would maintain May's growth rate. For more, click here...
8/29/2017


30-year mortgage rate hits 2017 low
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed mortgage rate dropping to its lowest mark since November 10, 2016. 30-year fixed-rate mortgage (FRM) averaged 3.86% with an average 0.5 point for the week ending August 24, down from last week when it averaged 3.89%. A year ago at this time, the 30-year FRM averaged 3.43%. 15-year FRM this week averaged 3.16% with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.74%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.17% this week with an average 0.5 point, up from last week when it averaged 3.16%. A year ago at this time, the 5-year ARM averaged 2.75%. For more, click here...
8/24/2017


Existing-home sales slide 1.3% in July
Listings in July typically went under contract in under 30 days for the fourth consecutive month because of high buyer demand, but existing-home sales ultimately pulled back as large declines in the Northeast and Midwest outweighed sales increases in the South and West, according to the National Association of Realtors®. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, slipped 1.3% to a seasonally adjusted annual rate of 5.44 million in July from a downwardly revised 5.51 million in June. July’s sales pace is still 2.1% above a year ago, but is the lowest of 2017. For more, click here...
8/24/2017


New-home sales fall to seven-month low
New U.S. single-family home sales unexpectedly fell in July, dropping to their lowest level in seven months, which could raise concerns of a slowdown in the housing market recovery. The Commerce Department said on Wednesday new home sales tumbled 9.4% to a seasonally adjusted annual rate of 571,000 units last month, the lowest level since December 2016. The percentage drop was the largest since August 2016. For more, click here...
8/23/2017


Mortgage applications decrease slightly
Mortgage applications decreased 0.5% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 18. The Market Composite Index, a measure of mortgage loan application volume, decreased 0.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 2% compared with the previous week. The Refinance Index increased 0.3% from the previous week. The seasonally adjusted Purchase Index decreased 2% from one week earlier. The unadjusted Purchase Index decreased 3% compared with the previous week and was 9% higher than the same week one year ago.
8/23/2017


Mortgage rates drop again
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed mortgage rate continuing to move lower. 30-year fixed-rate mortgage (FRM) averaged 3.89% with an average 0.4 point for the week ending August 17, down from last week when it averaged 3.90%. A year ago at this time, the 30-year FRM averaged 3.43%. 15-year FRM this week averaged 3.16% with an average 0.5 point, down from last week when it averaged 3.18%. A year ago at this time, the 15-year FRM averaged 2.74%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.16% this week with an average 0.4 point, up from last week when it averaged 3.14%. A year ago at this time, the 5-year ARM averaged 2.76%. For more, click here...
8/17/2017


Home prices jump 6.2% in 2Q
The headstrong supply and demand imbalances in much of the country slightly tempered the pace of sales and caused home prices to maintain their robust growth in the second quarter, according to the latest quarterly report by the National Association of Realtors®. The national median existing single-family home price in the second quarter was $255,600, which is up 6.2% from the second quarter of 2016 ($240,700) and surpasses the third quarter of last year ($241,300) as the new peak quarterly median sales price. The median price during the first quarter increased 6.9% from the first quarter of 2016. For more, click here...
8/16/2017


U.S. housing starts slowed in July
U.S. home building unexpectedly fell in July as the construction of single- and multi-family homes declined, which could temper expectations of a rebound in housing market activity in the third quarter. Housing starts declined 4.8% to a seasonally adjusted annual rate of 1.16 million units, the Commerce Department said on Wednesday. June's sales pace was revised down to 1.21 million units from the previously reported 1.22 million units. The report also showed a decline in building permits, suggesting that residential construction could struggle to regain momentum after contracting in the second quarter at its steepest pace since the third quarter of 2010. For more, click here...
8/16/2017


Mortgage applications increase slightly
Mortgage applications increased 0.1% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 11. The Market Composite Index, a measure of mortgage loan application volume, increased 0.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1% compared with the previous week. The Refinance Index increased 2% from the previous week. The seasonally adjusted Purchase Index decreased 2% from one week earlier. The unadjusted Purchase Index decreased 3% compared with the previous week and was 10% higher than the same week one year ago.
8/16/2017


Builder confidence springs back with four-point August jump
Builder confidence in the market for newly-built single-family homes rose four points in August to a level of 68 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). “Our members are encouraged by rising demand in the new-home market,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. “This is due to ongoing job and economic growth, attractive mortgage rates, and growing consumer confidence.” For more, click here...
8/15/2017


Housing affordability inches lower in 2Q
Rising home prices offset a quarter-point drop in mortgage interest rates to move housing affordability slightly lower in the second quarter of 2017, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) released Thursday. “While builder confidence remains solid and sales and starts are running at a healthy clip above last year’s levels, housing continues to confront persistent headwinds,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. For more, click here...
8/11/2017


Mortgage rates inch lower
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed mortgage rate dropping to its lowest point in six weeks. 30-year fixed-rate mortgage (FRM) averaged 3.90% with an average 0.5 point for the week ending August 10, down from last week when it averaged 3.93%. A year ago at this time, the 30-year FRM averaged 3.45%. 15-year FRM this week averaged 3.18% with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.76%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.14% this week with an average 0.5 point, down from last week when it averaged 3.15%. A year ago at this time, the 5-year ARM averaged 2.74%. For more, click here...
8/10/2017


Canadian new house prices rise marginally
Canadian new house prices rose in June at a slower pace compared to the two previous months, led by gains in Vancouver and Ottawa. Canada's new housing price index increased 0.2% in June on a month-over-month basis, Statistics Canada said Thursday. Market expectations were for a 0.5% gain, according to economists at Royal Bank of Canada. For more, click here...
8/10/2017


Mortgage applications increase
Mortgage applications increased 3.0% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 4. The Market Composite Index, a measure of mortgage loan application volume, increased 3.0% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 3% compared with the previous week. The Refinance Index increased 5% from the previous week. The seasonally adjusted Purchase Index increased 1% from one week earlier. The unadjusted Purchase Index increased 0.3% compared with the previous week and was 7% higher than the same week one year ago.
8/9/2017


Canadian housing starts gain in July
Canadian housing starts rose in July on growth in western British Columbia, even as groundbreaking on single-detached homes fell in Toronto where activity has cooled after the province introduced measures to rein in a frothy market. The seasonally adjusted annual rate of starts rose to 222,324 units in July, the Canada Mortgage and Housing Corporation (CMHC) said on Wednesday, topping economists' expectations for 205,000. June's figures were revised up to 212,948. Separate data from Statistics Canada showed the value of Canadian building permits unexpectedly rose in June on increased plans for commercial buildings, though construction intentions for single-family homes decreased. For more, click here...
8/9/2017


Mortgage rates hold steady
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates not deviating much from the previous week. 30-year fixed-rate mortgage (FRM) averaged 3.93% with an average 0.5 point for the week ending August 3, up from last week when it averaged 3.92%. A year ago at this time, the 30-year FRM averaged 3.43%. 15-year FRM this week averaged 3.18% with an average 0.5 point, down from last week when it averaged 3.20%. A year ago at this time, the 15-year FRM averaged 2.74%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.15% this week with an average 0.5 point, down from last week when it averaged 3.18%. A year ago at this time, the 5-year ARM averaged 2.73%. For more, click here...
8/3/2017


Mortgage applications decrease
Mortgage applications decreased 2.8% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending July 28. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3% compared with the previous week. The Refinance Index decreased 4% from the previous week. The seasonally adjusted Purchase Index decreased 2% from one week earlier to its lowest level since March 2017. The unadjusted Purchase Index decreased 2% compared with the previous week and was 9% higher than the same week one year ago. For more, click here...
8/2/2017


U.S. construction spending falls as government outlays tumble
U.S. construction spending unexpectedly fell in June as investment in public projects recorded its biggest drop since March 2002, suggesting a downward revision to the second-quarter economic growth estimate. The Commerce Department said on Tuesday that construction spending tumbled 1.3% to $1.21 trillion, the lowest level since September 2016. Spending in May was revised to show it rising 0.3%. For more, click here...
8/1/2017


Home price index up in June
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its CoreLogic Home Price Index (HPI™) and HPI Forecast™ for June 2017 which shows home prices are up strongly both year over year and month over month. Home prices nationally increased year over year by 6.7% from June 2016 to June 2017, and on a month-over-month basis, home prices increased by 1.1% in June 2017 compared with May 2017, according to the CoreLogic HPI. For more, click here...
8/1/2017


Pending home sales recover in June, grow 1.5%
After declining for three straight months, pending home sales reversed course in June as all major regions, except for the Midwest, saw an increase in contract activity, according to the National Association of Realtors®. The Pending Home Sales Index, a forward-looking indicator based on contract signings, climbed 1.5% to 110.2 in June from an upwardly revised 108.6 in May. At 0.5%, the index last month increased annually for the first time since March. For more, click here...
7/31/2017


Mortgage rates drop again
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates dropping for the second consecutive week. 30-year fixed-rate mortgage (FRM) averaged 3.92% with an average 0.5 point for the week ending July 27, down from last week when it averaged 3.96%. A year ago at this time, the 30-year FRM averaged 3.48%. 15-year FRM this week averaged 3.20% with an average 0.5 point, down from last week when it averaged 3.23%. A year ago at this time, the 15-year FRM averaged 2.78%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.18% this week with an average 0.5 point, down from last week when it averaged 3.21%. A year ago at this time, the 5-year ARM averaged 2.78%. For more, click here...
7/27/2017


U.S. new-home sales rise for second straight month
New U.S. single-family home sales increased for a second straight month in June as purchases in the West surged to a near 10-year high, but a dire shortage of properties remains an obstacle to a robust housing market recovery. The Commerce Department said on Wednesday new home sales rose 0.8% to a seasonally adjusted annual rate of 610,000 units last month. May's sales pace was revised down to 605,000 units from the previously reported 610,000 units. For more, click here...
7/26/2017


Mortgage applications increase
Mortgage applications increased 0.4% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending July 21. The Market Composite Index, a measure of mortgage loan application volume, increased 0.4%on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1% compared with the previous week. The Refinance Index increased 3% from the previous week. The seasonally adjusted Purchase Index decreased 2% from one week earlier to the lowest level since May 2017. The unadjusted Purchase Index decreased 2% compared with the previous week and was 8% higher than the same week one year ago. For more, click here...
7/26/2017


Case-Shiller: Housing not repeating bubble period
Home prices continued to increase in May, however experts explained housing is not repeating the bubble period, according to the latest report from S&P Dow Jones Indices and CoreLogic. The S&P CoreLogic Case-Shiller U.S. National Home Price Index, which covers all nine U.S. census divisions, increased 5.6% in May, the same increase as the month before. Before seasonal adjustment, the National Index increased 1% from May, however after seasonal adjustment, it increased just 0.2%. "Home prices continue to climb and outpace both inflation and wages,” said David Blitzer, S&P Dow Jones Indices managing director and chairman of the index committee. “Housing is not repeating the bubble period of 2000 to 2006: price increases vary across the country unlike the earlier period when rising prices were almost universal; the number of homes sold annually is 20% less today than in the earlier period and the months’ supply is declining, not surging.” For more, click here...
7/25/2017


Existing home sales ease lower in June
Existing home sales slipped in June as low supply kept homes selling at a near record pace but ultimately ended up muting overall activity, according to the National Association of Realtors®. Only the Midwest saw an increase in sales last month. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 1.8% to a seasonally adjusted annual rate of 5.52 million in June from 5.62 million in May. Despite last month's decline, June's sales pace is 0.7% above a year ago, but is the second lowest of 2017 (February, 5.47 million). For more, click here...
7/24/2017


Mortgage rates move lower
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey, showing average mortgage rates dropping after two straight weeks of increases. 30-year fixed-rate mortgage (FRM) averaged 3.96% with an average 0.6 point for the week ending July 20, down from last week when it averaged 4.03%. A year ago at this time, the 30-year FRM averaged 3.45%. 15-year FRM this week averaged 3.23% with an average 0.5 point, down from last week when it averaged 3.29%. A year ago at this time, the 15-year FRM averaged 2.75%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.21% this week with an average 0.5 point, down from last week when it averaged 3.28%. A year ago at this time, the 5-year ARM averaged 2.78%. For more, click here...
7/20/2017


U.S. housing starts end slide, post June increase
Homebuilders ramped up construction in June to the fastest pace in four months, led by surges in the Northeast and Midwest. Housing starts climbed 8.3% in June to a seasonally adjusted annual rate of 1.22 million, the Commerce Department said Wednesday. The gain ended three straight monthly declines and marked the strongest pace of building since February. Home construction has risen 3.9% year-to-date, but that slight increase has been unable to make up for the decrease in existing homes being listed for sale. For more, click here...
7/19/2017


Mortgage applications increase
Mortgage applications increased 6.3% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending July 14. Last week's results included an adjustment for the Fourth of July holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 6.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 33% compared with the previous week. The Refinance Index increased 13% from the previous week. The seasonally adjusted Purchase Index increased 1% from one week earlier. The unadjusted Purchase Index increased 27% compared with the previous week and was 7% higher than the same week one year ago. For more, click here...
7/19/2017


Builder confidence slips in July
Builder confidence in the market for newly-built single-family homes slipped two points in July to a level of 64 from a downwardly revised June reading on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). It is the lowest reading since November 2016. “Our members are telling us they are growing increasingly concerned over rising material prices, particularly lumber,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. “This is hurting housing affordability even as consumer interest in the new-home market remains strong.” For more, click here...
7/18/2017


Mortgage rates jump again
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates rising across the board for the second consecutive week. 30-year fixed-rate mortgage (FRM) averaged 4.03% with an average 0.5 point for the week ending July 13, up from last week when it averaged 3.96%. A year ago at this time, the 30-year FRM averaged 3.42%. 15-year FRM this week averaged 3.29% with an average 0.5 point, up from last week when it averaged 3.22%. A year ago at this time, the 15-year FRM averaged 2.72%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.28% this week with an average 0.5 point, up from last week when it averaged 3.21%. A year ago at this time, the 5-year ARM averaged 2.76%. For more, click here...
7/13/2017


Canadian new-home prices surge
Canadian new house prices surged for a second straight month in May, driven by gains in the frothy Toronto and Vancouver markets. Vancouver's new-house prices rose at their fastest pace in a decade. Meanwhile, other markets surrounding Toronto also recorded healthy gains, in another sign buyers who can't afford homes in Canada's biggest city are purchasing real estate elsewhere in the province of Ontario -- and, in turn, driving up costs in those communities. Canada's new housing price index increased 0.7% in May on a month-over-month basis, Statistics Canada said Thursday. Market expectations were for a smaller 0.3% gain, according to economists at Royal Bank of Canada. For more, click here...
7/13/2017


Mortgage applications decrease
Mortgage applications decreased 7.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 7, 2017. This week’s results include an adjustment for the Fourth of July holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 7.4 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 26 percent compared with the previous week. The Refinance Index decreased 13 percent from the previous week to the lowest level since January 2017. The seasonally adjusted Purchase Index decreased 3 percent from one week earlier. The unadjusted Purchase Index decreased 22 percent compared with the previous week and was 3 percent higher than the same week one year ago. For more, click here...
7/12/2017


Canadian housing starts rose in June
Canada Mortgage and Housing Corp. says the annual pace of housing starts in Canada picked up in June. The seasonally adjusted annual rate of housing starts in June came in at 212,695 units, up from 194,955 units in May. Economists had expected the annual rate to come in at 200,000, according to Thomson Reuters. For more, click here...
7/11/2017


More builders report lumber shortages
For several years now, the recovery in single-family home building has been hampered by shortages of labor and lots. Availability of building materials, meanwhile, has not been much of an issue. But that may be starting to change. In answer to questions on the May 2017 survey for the NAHB/Wells Fargo Housing Market Index, 21% of single-family builders reported a shortage of framing lumber. For more, click here...
7/10/2017


Mortgage rates jump
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage making its biggest jump since March 2017. 30-year fixed-rate mortgage (FRM) averaged 3.96 percent with an average 0.6 point for the week ending July 6, 2017, up from last week when it averaged 3.88 percent. A year ago at this time, the 30-year FRM averaged 3.41 percent. 15-year FRM this week averaged 3.22 percent with an average 0.5 point, up from last week when it averaged 3.17 percent. A year ago at this time, the 15-year FRM averaged 2.74 percent. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.21 percent this week with an average 0.5 point, up from last week when it averaged 3.17 percent. A year ago at this time, the 5-year ARM averaged 2.68 percent. For more, click here...
7/6/2017


Mortgage applications increase
Mortgage applications increased 1.4 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending June 30, 2017. The Market Composite Index, a measure of mortgage loan application volume, increased 1.4 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1 percent compared with the previous week. The Refinance Index decreased 0.4 percent from the previous week. The seasonally adjusted Purchase Index increased 3 percent from one week earlier. The unadjusted Purchase Index increased 3 percent compared with the previous week and was 6 percent higher than the same week one year ago. The refinance share of mortgage activity decreased to 44.9 percent of total applications from 45.6 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 7.2 percent of total applications. For more, click here...
7/6/2017


Mortgage rates hit 2017 low
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey, showing the 30-year fixed mortgage rate dropping to a new 2017 low. 30-year fixed-rate mortgage (FRM) averaged 3.88% with an average 0.5 point for the week ending June 29, down from last week when it averaged 3.90%. A year ago at this time, the 30-year FRM averaged 3.48%. 15-year FRM this week averaged 3.17% with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.78%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.17% this week with an average 0.5 point, up from last week when it averaged 3.14%. A year ago at this time, the 5-year ARM averaged 2.70%. For more, click here...
6/29/2017


Pending home sales tumble in May
The ongoing supply shortages that are propping up home prices in many metro areas caused pending home sales in May to slump for the third consecutive month, according to the National Association of Realtors®. None of the major regions saw an increase in contract activity last month. The Pending Home Sales Index, a forward-looking indicator based on contract signings, decreased 0.8% to 108.5 in May from a downwardly revised 109.4 in April. The index is now 1.7% below a year ago, which marks the second straight annual decline and the most recent since November and December of last year. Lawrence Yun, NAR chief economist, says it's clear the critically low inventory levels in much of the country somewhat sidetracked the housing market this spring. For more, click here...
6/28/2017


Mortgage applications decrease
Mortgage applications decreased 6.2% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending June 23. The Market Composite Index, a measure of mortgage loan application volume, decreased 6.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 7% compared with the previous week. The Refinance Index decreased 9% from the previous week. The seasonally adjusted Purchase Index decreased 4% from one week earlier. The unadjusted Purchase Index decreased 5% compared with the previous week and was 8% higher than the same week one year ago. For more, click here...
6/28/2017


Home prices rose less than anticipated in April
U.S. home prices rose slightly less than anticipated in April, according to the S&P/Case-Shiller U.S. National Home Price Index. The national home price index increased 5.5% in April, versus 5.8% in March. Analysts were expecting an increase of 5.9% for the month, according to Thomson Reuters consensus estimates. The widely tracked 20-city home price index rose 5.7% from April 2016. In March, its yearly gain was 5.9%, the sharpest gain since July 2014. For more, click here...
6/27/2017


Home prices hit record high as new-home sales jump
New U.S. single-family home sales rose in May and the median sales price surged to an all-time high, suggesting the housing market had regained momentum. The Commerce Department said on Friday new-home sales increased 2.9% to a seasonally adjusted rate of 610,000 units last month. April's sales pace was also revised sharply higher to 593,000 units from 569,000 units. For more, click here...
6/23/2017


Mortgage rates hold steady
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey®, showing average mortgage rates continuing to hold at year-to-date lows amid ongoing economic uncertainty. 30-year fixed-rate mortgage (FRM) averaged 3.90% with an average 0.5 point for the week ending June 22, down from last week when it averaged 3.91%. A year ago at this time, the 30-year FRM averaged 3.56%. 15-year FRM this week averaged 3.17% with an average 0.5 point, down from last week when it averaged 3.18%. A year ago at this time, the 15-year FRM averaged 2.83%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.14% this week with an average 0.5 point, down from last week when it averaged 3.15%. A year ago at this time, the 5-year ARM averaged 2.74%. For more, click here...
6/22/2017


Existing-home sales rise in May
Existing-home sales rebounded in May following a notable decline in April, and low inventory levels helped propel the median sales price to a new high while pushing down the median days a home is on the market to a new low, according to the National Association of Realtors®. All major regions except for the Midwest saw an increase in sales last month. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, climbed 1.1% to a seasonally adjusted annual rate of 5.62 million in May from a downwardly revised 5.56 million in April. Last month's sales pace is 2.7% above a year ago and is the third highest over the past year. For more, click here...
6/21/2017


Mortgage applications edge higher
Mortgage applications increased 0.6% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 16. The Market Composite Index, a measure of mortgage loan application volume, increased 0.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 0.4% compared with the previous week. The Refinance Index increased 2% from the previous week to its highest level since November 2016. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 9% higher than the same week one year ago.
6/21/2017


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