Data at your fingertips.
Focused. Unbiased. Independent. Dependable. Respected. Current.

Other Industry News > Housing

Do you have information that should appear in Daily WoodWire? Send it to Jeff Redd, WoodWire editor, by fax at 1-800-874-7979, or email to jeff@rlpi.com


U.S. housing starts plunge 12% to nine-month low
U.S. homebuilding fell to a nine-month low in June and permits declined for a third straight month, dealing a blow to the housing market as it struggles with an acute shortage of properties available for sale. Housing starts tumbled 12.3% to a seasonally adjusted annual rate of 1.173 million units last month, the Commerce Department said on Wednesday. That was the lowest level since September 2017. For more, click here...
7/18/2018


Mortgage applications decrease
Mortgage applications decreased 2.5% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending July 13. Last week's results included an adjustment for the Fourth of July holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 22% compared with the previous week. The Refinance Index increased 2% from the previous week. The seasonally adjusted Purchase Index decreased 5% from one week earlier. The unadjusted Purchase Index increased 19% compared with the previous week and was 1% higher than the same week one year ago. For more, click here...
7/18/2018


Builder confidence unchanged in July
Builder confidence in the market for newly-built single-family homes remained unchanged at a solid 68 reading in July on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). “Consumer demand for single-family homes is holding strong this summer, buoyed by steady job growth, income gains and low unemployment in many parts of the country,” said NAHB Chairman Randy Noel, a custom home builder from LaPlace, La. For more, click here...
7/17/2018


June home sales in Canada drop 10.7% from year ago
The Canadian Real Estate Association says the number of homes sold in June was down 10.7% from a year ago. The result was a five-year low for the month of June. However, sales volume was up 4.1% when compared with May. For more, click here...
7/16/2018


Mortgage rates inch higher
Freddie Mac (OTCQB:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that mortgage rates slightly moved up over the past week. 30-year fixed-rate mortgage (FRM) averaged 4.53% with an average 0.4 point for the week ending July 12, up from last week when it averaged 4.52%. A year ago at this time, the 30-year FRM averaged 4.03%. 15-year FRM this week averaged 4.02% with an average 0.4 point, up from last week when it averaged 3.99%. A year ago at this time, the 15-year FRM averaged 3.29%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.86% this week with an average 0.3 point, up from last week when it averaged 3.74%. A year ago at this time, the 5-year ARM averaged 3.28%. For more, click here...
7/12/2018


Canada housing prices show signs of stabilizing
Canadian home prices rose in June from May, pushing prices just barely above their 2017 peak, while new home prices were flat again in May, according to separate reports on Thursday that signaled a housing market swoon may be stabilizing. The Teranet-National Bank Composite House Price Index, which measures changes for repeat sales of single-family homes, showed prices increased 0.9% on a monthly basis as prices rose in 10 of the 11 markets surveyed. For more, click here...
7/12/2018


Mortgage applications increase
Mortgage applications increased 2.5% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending July 6. This week's results included an adjustment for the Fourth of July holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 2.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 18% compared with the previous week. The Refinance Index decreased 4% from the previous week to its lowest level since December 2000. The seasonally adjusted Purchase Index increased 7% from one week earlier. The unadjusted Purchase Index decreased 15% compared with the previous week and was 8% higher than the same week one year ago. For more, click here...
7/11/2018


Canadian housing starts, permits surge
Canadian housing starts surged in June as groundbreaking on multiple unit urban homes hit a record high, and building permits for May also jumped, reflecting renewed strength in housing after a weak spring, separate reports showed on Tuesday. Construction starts on homes blew past expectations in June, increasing to 248,138 from May's downwardly revised 193,902, on strength in multiples - typically condos, the Canada Mortgage and Housing Corp said. For more, click here...
7/10/2018


Home prices up 7.1% in May
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, July 3 released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for May 2018, which shows home prices rose both year over year and month over month. Home prices increased nationally by 7.1% year over year from May 2017 to May 2018. On a month-over-month basis, prices increased by 1.1% in May 2018 – compared with April 2018 – according to the CoreLogic HPI. For more, click here...
7/5/2018


Mortgage rates continue recent decline
Freddie Mac (OTCQB:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that mortgage rates over the past week maintained their recent slide. 30-year fixed-rate mortgage (FRM) averaged 4.52% with an average 0.5 point for the week ending July 5, down from last week when it averaged 4.55%. A year ago at this time, the 30-year FRM averaged 3.96%. 15-year FRM this week averaged 3.99% with an average 0.4 point, down from last week when it averaged 4.04%. A year ago at this time, the 15-year FRM averaged 3.22%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.74% this week with an average 0.3 point, down from last week when it averaged 3.87%. A year ago at this time, the 5-year ARM averaged 3.21%. For more, click here...
7/5/2018


Mortgage applications decrease
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 June 29. 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 2% from the previous week. The seasonally adjusted Purchase Index increased 1% from one week earlier. The unadjusted Purchase Index remained unchanged from the previous week and was 1% lower than the same week one year ago. For more, click here...
7/5/2018


Mortgage rates fall again
Freddie Mac (OTCQB:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that mortgage rates declined over the past week and have now retreated in four of the past five weeks. 30-year fixed-rate mortgage (FRM) averaged 4.55% with an average 0.5 point for the week ending June 28, down from last week when it averaged 4.57%. A year ago at this time, the 30-year FRM averaged 3.88%. 15-year FRM this week averaged 4.04% with an average 0.5 point (unchanged from last week). A year ago at this time, the 15-year FRM averaged 3.17%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.87% this week with an average 0.3 point, up from last week when it averaged 3.83%. A year ago at this time, the 5-year ARM averaged 3.17%. For more, click here...
6/28/2018


U.S. pending home sales fall in May
Fewer Americans signed contracts to purchase homes in May, as sales are being stifled by a shortage of properties on the market. The National Association of Realtors said Wednesday that its pending home sales index slipped 0.5% last month to 105.9, the second straight monthly decline. On a yearly basis, pending home sales have fallen 2.2%. For more, click here...
6/27/2018


Mortgage applications decrease
Mortgage applications decreased 4.9% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending June 22. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6% compared with the previous week. The Refinance Index decreased 4% from the previous week. The seasonally adjusted Purchase Index decreased 6% from one week earlier. The unadjusted Purchase Index decreased 7% compared with the previous week and was 1% higher than the same week one year ago. For more, click here...
6/27/2018


U.S. home prices rise at slower pace
Home prices in the U.S. continued to climb in April but at a slower pace. Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index posted a 6.4% annual gain in April, down from 6.5% from a month earlier. The 20-city composite posted a 6.6% annual gain — below analysts’ estimates of 6.8%. For more, click here...
6/26/2018


Number of builders reporting framing lumber shortage surges
Shortages of framing lumber are now more widespread than at any time since NAHB began tracking the issue in a consistent way in 1994, according to results from the May 2018 survey for the NAHB/Wells Fargo Housing Market Index. Over 30% of single-family builders responding to the survey’s special questions in May reported a shortage of framing lumber, outdistancing the other 22 listed building products and materials by a wide margin. In second place were trusses (with a shortage reported by 24% of builders), followed by lightweight steel and OSB (at 20% each) and plywood (at 19%). For more, click here...
6/25/2018


U.S. new home sales surge in May
Sales of new U.S. single-family homes increased more than expected in May as sales in the South surged to their highest level in nearly 11 years. The Commerce Department said on Monday new home sales jumped 6.7% to a seasonally adjusted annual rate of 689,000 units last month, the highest level since November 2017. April's sales pace was revised down to 646,000 units from the previously reported 662,000 units. For more, click here...
6/25/2018


Survey: Housing outlook steady in 2Q
New findings from the National Association of Realtors® show that a high number of Americans, 75%, believe that now is a good time to sell a house, while 68% think it is a good time to buy. That’s according to NAR’s second quarter Housing Opportunities and Market Experience (HOME) survey, which also found that a majority of consumers believe prices have and will continue to increase and that homeownership strengthens our nation’s communities. For more, click here...
6/22/2018


Housing affordability worst in decade
Housing in the U.S. has not been this unaffordable since property values were in free fall 10 years ago. In the first quarter, affordability as measured by the average share of income needed to buy a median-priced house was at its worst since the third quarter of 2008, according to Attom Data Solutions. The firm's affordability index fell to 95, the lowest since it read at 86 nearly a decade ago. For more, click here...
6/22/2018


Mortgage rates retreat
Freddie Mac (OTCQB:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that mortgage rates inched back over the past week and have now declined in three of the past four weeks. 30-year fixed-rate mortgage (FRM) averaged 4.57% with an average 0.5 point for the week ending June 21, down from last week when it averaged 4.62%. A year ago at this time, the 30-year FRM averaged 3.90%. 15-year FRM this week averaged 4.04% with an average 0.4 point, down from last week when it averaged 4.07%. A year ago at this time, the 15-year FRM averaged 3.17%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.83% this week with an average 0.3 point (unchanged from last week). A year ago at this time, the 5-year ARM averaged 3.14%. For more, click here...
6/21/2018


Mortgage applications increase
Mortgage applications increased 5.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending June 15. The Market Composite Index, a measure of mortgage loan application volume, increased 5.1% 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 6% from the previous week. The seasonally adjusted Purchase Index increased 4% from one week earlier. The unadjusted Purchase Index increased 1% compared with the previous week and was 3% higher than the same week one year ago. For more, click here...
6/20/2018


Existing-home sales slip in May
Existing-home sales fell back for the second straight month in May, as only the Northeast region saw an uptick in activity, 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, decreased 0.4% to a seasonally adjusted annual rate of 5.43 million in May from downwardly revised 5.45 million in April. With last month’s decline, sales are now 3.0% below a year ago and have fallen year-over-year for three straight months. For more, click here...
6/20/2018


U.S. housing starts surge to 11-year high
U.S. homebuilding surged to nearly an 11-year high in May amid an acceleration in both single-family and multi-family home construction, but a second straight monthly drop in permits suggested housing market activity will remain moderate. Housing starts jumped 5.0% to a seasonally adjusted annual rate of 1.350 million units last month, the Commerce Department said on Tuesday. That was the highest level since July 2007. Data for April was revised slightly to show starts falling to a rate of 1.286 million units instead of the previously reported pace of 1.287 million units. For more, click here...
6/19/2018


Builder optimism fades with potential trade war looming
The threat of a trade war with Canada has taken a toll on the confidence of U.S. homebuilders, according to index released Monday. The National Association of Home Builders/Wells Fargo builder sentiment index released Monday fell two points to 68 in June. A reading of 70 in May temporarily snapped a four-month slide. For more, click here...
6/19/2018


U.S. new home construction expected to fall short of demand
Another day, more troubling numbers for the U.S. housing market. The National Association of Home Builders forecasts builders will get started on 909,000 new homes across the country over the course of 2018, chief economist Robert Dietz said during a panel discussion at the National Association of Real Estate Editors conference here Thursday. The problem is that figure will fall 300,000 short of demand. For more, click here...
6/15/2018


Canada's new home prices flat in April
Canadian new home prices remained flat for the second month in a row in April as higher interest rates and tougher mortgage regulations dampened buyer enthusiasm, Statistics Canada said on Thursday. Analysts in a Reuters poll predicted no change from March. Prices in Toronto fell 0.5%, the fourth monthly decrease in a row, after the provincial government had instituted measures last year to rein in the city’s hot market. For more, click here...
6/14/2018


Mortgage rates back on the rise
Freddie Mac (OTCQB:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that after declining for two straight weeks, mortgage rates reversed direction this week and rose to their second highest level this year. 30-year fixed-rate mortgage (FRM) averaged 4.62% with an average 0.4 point for the week ending June 14, up from last week when it averaged 4.54%. A year ago at this time, the 30-year FRM averaged 3.91%. 15-year FRM this week averaged 4.07% with an average 0.4 point, up from last week when it averaged 4.01%. A year ago at this time, the 15-year FRM averaged 3.18%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.83% this week with an average 0.3 point, up from last week when it averaged 3.74%. A year ago at this time, the 5-year ARM averaged 3.15%. For more, click here...
6/14/2018


Mortgage applications decrease
Mortgage applications decreased 1.5% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending June 8. Last week's results included an adjustment for the Memorial Day holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 9%compared with the previous week. The Refinance Index decreased 2% from the previous week. The seasonally adjusted Purchase Index decreased 2% from one week earlier. The unadjusted Purchase Index increased 9% compared with the previous week and was 0.2% lower than the same week one year ago. For more, click here...
6/13/2018


Toronto drop drives Canada housing starts lower
Canadian housing starts fell to the lowest level in a year in May on a decline in Toronto apartments and townhouses. Housing starts fell 9.8% to an annualized 195,613 units, from 216,775 in April, Canada Mortgage & Housing Corp. said Friday from Ottawa. Multiple-unit starts dropped 15% to 124,957 units. Single-detached homes was the only segment to see a slight rise from April, with a 2% gain to 70,655. For more, click here...
6/8/2018


Mortgage rates inch lower
Freddie Mac (OTCQB:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that mortgage rates dipped for the second consecutive week. 30-year fixed-rate mortgage (FRM) averaged 4.54% with an average 0.5 point for the week ending June 7, down from last week when it averaged 4.56%. A year ago at this time, the 30-year FRM averaged 3.89%. 15-year FRM this week averaged 4.01% with an average 0.4 point, down from last week when it averaged 4.06%. A year ago at this time, the 15-year FRM averaged 3.16%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.74% this week with an average 0.4 point, down from last week when it averaged 3.80%. A year ago at this time, the 5-year ARM averaged 3.11%. For more, click here...
6/7/2018


Mortgage applications increase
Mortgage applications increased 4.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending June 1. This week's results included an adjustment for the Memorial Day holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 4.1% 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 4% from the previous week. The seasonally adjusted Purchase Index increased 4% from one week earlier. The unadjusted Purchase Index decreased 8% compared with the previous week and was 9% higher than the same week one year ago. For more, click here...
6/6/2018


Canadian building permits sink 4.6% in April
The value of Canadian building permits fell by 4.6% in April from March, the biggest decline in five months, on weakness in both the residential and non residential sectors, Statistics Canada said on Wednesday. Stats Canada revised March’s figures to show a gain of just 1.3% compared to an initial 3.1% rise, in part to reflect late-arriving data. For more, click here...
6/6/2018


CoreLogic reports U.S. home prices up in April
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for April 2018, which shows home prices rose both year over year and month over month. Home prices increased nationally by 6.9% year over year from April 2017 to April 2018. On a month-over-month basis, prices increased by 1.2% in April 2018 – compared with March 2018 – according to the CoreLogic HPI. For more, click here...
6/5/2018


Toronto, Vancouver home sales slump
Sales have tumbled in Canada’s two most expensive housing markets as buyers and sellers sit on the sidelines waiting to see whether each region is heading toward stability or continuing volatility. Residential sales volume last month fell 22% in the Greater Toronto Area, compared with May, 2017, while the number of properties changing hands in Greater Vancouver dropped 35%. For more, click here...
6/5/2018


U.S. construction spending surges to record high
U.S. construction spending surged 1.8% to a record high in April as home building rose by the largest amount in 24 years. The April gain reversed a 1.7% drop in March, the Commerce Department reported Friday. The strength stemmed from a sizable 4.5% rise in residential construction, the biggest percentage gain since November 1993. Non-residential construction rose by a more modest 0.8% while spending on government projects fell 1.3% as both the federal government and state and local governments saw declines. For more, click here...
6/1/2018


U.S. pending home sales fall in April
Contracts to buy previously owned homes fell in April, the National Association of Realtors said on Thursday. The NAR’s pending home sales index decreased to a reading of 106.4, down 1.3% from the prior month. March’s index was revised to 107.8 from 107.6. Economists polled by Reuters had forecast pending home sales rising 0.4% last month. Pending home contracts are seen as a forward-looking indicator of the health of the housing market because they become sales one to two months later. Compared to April of 2017, pending sales were down 2.1%.
5/31/2018


Mortgage rates ease lower
Freddie Mac (OTCQB:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that after climbing to their highest level in over seven years, mortgage rates fell over the past week. 30-year fixed-rate mortgage (FRM) averaged 4.56% with an average 0.4 point for the week ending May 31, down from last week when it averaged 4.66%. A year ago at this time, the 30-year FRM averaged 3.94%. 15-year FRM this week averaged 4.06% with an average 0.4 point, down from last week when it averaged 4.15%. A year ago at this time, the 15-year FRM averaged 3.19%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.80% this week with an average 0.3 point, down from last week when it averaged 3.87%. A year ago at this time, the 5-year ARM averaged 3.11%. For more, click here...
5/31/2018


Mortgage applications decrease
Mortgage applications decreased 2.9% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending May 25. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.9% 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 5% from the previous week to its lowest level since December 2000. The seasonally adjusted Purchase Index decreased 2% from one week earlier. The unadjusted Purchase Index decreased 3% compared with the previous week and was 2% higher than the same week one year ago. For more, click here...
5/30/2018


Home price gains ease in March
The gains in home prices took a slight breather in March. Nationally, values rose 6.5% annually, unchanged compared with February, according to the S&P CoreLogic Case-Shiller home price indexes. February's reading was revised higher. Larger cities, however, are seeing bigger gains. The nation's 10 largest metropolitan markets saw home prices increase 6.5% annually, up from 6.4% in the previous month. The 20 largest cities posted a 6.8% annual increase, unchanged from the previous month. For more, click here...
5/29/2018


Mortgage rates hit highest level since 2011
Freddie Mac (OTCQB:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that mortgage rates moved up over the past week to their highest level since May 5, 2011. 30-year fixed-rate mortgage (FRM) averaged 4.66% with an average 0.4 point for the week ending May 24, up from last week when it averaged 4.61%. A year ago at this time, the 30-year FRM averaged 3.95%. 15-year FRM this week averaged 4.15% with an average 0.4 point, up from last week when it averaged 4.08%. A year ago at this time, the 15-year FRM averaged 3.19%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.87% this week with an average 0.3 point, up from last week when it averaged 3.82%. A year ago at this time, the 5-year ARM averaged 3.07%. For more, click here...
5/24/2018


Existing-home sales drop 2.5% in April
U.S. home sales dropped more than expected in April as a shortage of properties for sale continued to weigh on the market. The National Association of Realtors said on Thursday that existing home sales fell 2.5% to a seasonally adjusted annual rate of 5.46 million units last month. March's sales pace was unrevised. The retreat in existing home sales comes after two straight months of increases. For more, click here...
5/24/2018


Mortgage rates increase, applications decrease
Mortgage applications decreased 2.6% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending May 18. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.6% 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 to its lowest level since December 2000. The seasonally adjusted Purchase Index decreased 2% from one week earlier. The unadjusted Purchase Index decreased 3% compared with the previous week and was 3% higher than the same week one year ago. For more, click here...
5/23/2018


U.S. new home sales fall less than expected in April
Sales of new U.S. single-family homes fell less than expected in April, but data for the last three months was revised lower. The Commerce Department said on Wednesday new home sales dropped 1.5% to a seasonally adjusted annual rate of 662,000 units last month. March's sales pace was revised down to 672,000 units from the previously reported 694,000 units. Economists polled by Reuters had forecast new home sales, which account for about 11% of housing market sales, falling 2.0% to a pace of 679,000 units in April. For more, click here...
5/23/2018


Single-family home size increases in 2018
Counter to the recent prevailing trend, new single-family home size increased at start of 2018. New home size had been falling over the last two years due to an incremental move to additional entry-level home construction. According to first quarter 2018 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area increased to 2,436 square feet. Average (mean) square footage for new single-family homes increased to 2,641 square feet. For more, click here...
5/21/2018


Mortgage rates hit seven-year high
Freddie Mac (OTCQB:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that after plateauing in recent weeks, mortgage rates reversed course and reached a new high last seen eight years ago. 30-year fixed-rate mortgage (FRM) averaged 4.61% with an average 0.4 point for the week ending May 17, 2018, up from last week when it averaged 4.55 %. A year ago at this time, the 30-year FRM averaged 4.02%. 15-year FRM this week averaged 4.08% with an average 0.4 point, up from last week when it averaged 4.01%. A year ago at this time, the 15-year FRM averaged 3.27%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.82% this week with an average 0.3 point, up from last week when it averaged 3.77%. A year ago at this time, the 5-year ARM averaged 3.13%. For more, click here...
5/17/2018


Mortgage applications decline
Mortgage applications decreased 2.7% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending May 11, 2018. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.7% 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 to its lowest level since August 2008. The seasonally adjusted Purchase Index decreased 2% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 4% higher than the same week one year ago. For more, click here...
5/16/2018


Builder confidence climbs in May
Builder confidence in the market for newly-built single-family homes rose two points to a level of 70 in May after a downwardly revised April reading on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the fourth time the HMI has reached 70 or higher this year. For more, https://www.nahb.org/en/news-and-publications/press-releases/2018/05/builder-confidence-climbs-to-70-in-may.aspx
5/16/2018


U.S. housing starts fell in April
U.S. homebuilding tumbled in April and permits fell, suggesting the housing market continued to tread water amid shortages of land and skilled labor. Housing starts dropped 3.7% to a seasonally adjusted annual rate of 1.287 million units in April, the Commerce Department said on Wednesday. The decline reversed March's rise. For more, click here...
5/16/2018


Mortgage rates unchanged
Freddie Mac (OTCQB:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that mortgage rates were unchanged over the past week. 30-year fixed-rate mortgage (FRM) averaged 4.55%with an average 0.5 point for the week ending May 10, 2018 (unchanged from last week). A year ago at this time, the 30-year FRM averaged 4.05%. 15-year FRM this week averaged 4.01% with an average 0.4 point, down from last week when it averaged 4.03%. A year ago at this time, the 15-year FRM averaged 3.29 %. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.77%this week with an average 0.3 point, up from last week when it averaged 3.69%. A year ago at this time, the 5-year ARM averaged 3.14%. For more, click here...
5/10/2018


Mortgage applications decline slightly
Mortgage applications decreased 0.4 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending May 4, 2018. 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 remained unchanged from the previous week. The Refinance Index decreased 1% from the previous week to its lowest level since October 2008. The seasonally adjusted Purchase Index decreased 0.2% from one week earlier. The unadjusted Purchase Index increased 0.4% compared with the previous week and was 3% higher than the same week one year ago. For more,click here...
5/9/2018


Mortgage rates decline modestly
Freddie Mac (OTCQB:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that after steadily rising in most of April, average mortgage rates dipped slightly over the past week. 30-year fixed-rate mortgage (FRM) averaged 4.55% with an average 0.5 point for the week ending May 3, down from last week when it averaged 4.58%. A year ago at this time, the 30-year FRM averaged 4.02%. 15-year FRM this week averaged 4.03% with an average 0.4 point, up from last week when it averaged 4.02%. A year ago at this time, the 15-year FRM averaged 3.27%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.69% this week with an average 0.3 point, down from last week when it averaged 3.74%. A year ago at this time, the 5-year ARM averaged 3.13%. For more, click here...
5/3/2018


Mortgage applications decrease
Mortgage applications decreased 2.5% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending April 27. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.5% 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 decreased 4% from the previous week. The seasonally adjusted Purchase Index decreased 2% from one week earlier. The unadjusted Purchase Index decreased 1% compared with the previous week and was 5% higher than the same week one year ago. For more, click here...
5/2/2018


U.S. construction spending drops 1.7% in March
U.S. construction spending dropped 1.7% in March, the biggest setback in 11 months, with weakness in a number of sectors including the biggest plunge in home building in nine years. The March decline was the first monthly drop since last July and the biggest contraction since a 1.8% fall in April 2017, the Commerce Department reported Tuesday. Spending on residential construction was down 3.5%, the worst showing since a 4.2% decline in April 2009. For more, click here...
5/1/2018


Pending home sales inch higher in March
March marked the official start of the spring, but it didn't cause more home buyers to leap into action. Signed contracts to purchase existing home rose just 0.4% in March compared to February, according to a monthly pending home sales index from the National Association of Realtors. February's reading was revised down. For more, click here...
4/30/2018


Mortgage rates hit highest level since 2013
Freddie Mac (OTCQB:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates continuing the upward trajectory seen in most of early 2018. 30-year fixed-rate mortgage (FRM) averaged 4.58% with an average 0.5 point for the week ending April 26, up from last week when it averaged 4.47%. A year ago at this time, the 30-year FRM averaged 4.03%. 15-year FRM this week averaged 4.02% with an average 0.4 point, up from last week when it averaged 3.94%. A year ago at this time, the 15-year FRM averaged 3.27%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.74% this week with an average 0.3 point, up from last week when it averaged 3.67%. A year ago at this time, the 5-year ARM averaged 3.12%. For more, click here...
4/26/2018


Mortgage applications decrease slightly
Mortgage applications decreased 0.2% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending April 20. The Market Composite Index, a measure of mortgage loan application volume, decreased 0.2% 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 decreased 0.3% from the previous week. The seasonally adjusted Purchase Index was unchanged from one week earlier. The unadjusted Purchase Index increased 1% compared with the previous week and was 11% higher than the same week one year ago. For more, click here...
4/25/2018


Sales of existing homes rise in March
U.S. sales of existing homes increased 1.1% on a monthly basis in March, which suggests that buyers are undeterred by the dwindling number of properties available on the market. The National Association of Realtors said Monday that homes sold last month at a seasonally adjusted annual pace of 5.60 million, up from 5.54 million in February. This sales rate is higher than the 2017 total, but March sales were down slightly over the past 12 months. For more, click here...
4/24/2018


Home prices jump 6.3% in February
The critical shortage of homes for sale continues to drive home prices higher nationwide. Values jumped 6.3% nationally in February compared to a year earlier, according to the S&P CoreLogic Case-Shiller Home Price Index. That is a wider gain than January's 6.1% annual jump. For more, click here...
4/24/2018


U.S. new-home sales increase more than expected
Sales of new U.S. single-family homes increased more than expected in March as sales in the West surged to their highest level in more than 11 years. The Commerce Department said on Tuesday new home sales increased 4.0% to a seasonally adjusted annual rate of 694,000 units last month. February’s sales pace was revised up to 667,000 units from the previously reported 618,000 units. For more, click here...
4/24/2018


Mortgage rates rise to highest level of 2018
Freddie Mac (OTCQB:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates jumping across the board. 30-year fixed-rate mortgage (FRM) averaged 4.47% with an average 0.5 point for the week ending April 19, up from last week when it averaged 4.42%. A year ago at this time, the 30-year FRM averaged 3.97%. 15-year FRM this week averaged 3.94% with an average 0.4 point, up from last week when it averaged 3.87%. A year ago at this time, the 15-year FRM averaged 3.23%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.67% this week with an average 0.3 point, up from last week when it averaged 3.61%. A year ago at this time, the 5-year ARM averaged 3.10%. For more, click here...
4/19/2018


Mortgage applications increase
Mortgage applications increased 4.9% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending April 13. The Market Composite Index, a measure of mortgage loan application volume, increased 4.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 6% compared with the previous week. The Refinance Index increased 4% from the previous week. The seasonally adjusted Purchase Index increased 6% from one week earlier. The unadjusted Purchase Index increased 7% compared with the previous week and was 10% higher than the same week one year ago. For more, click here...
4/18/2018


Housing starts rebound in March on multifamily uptick
U.S. homebuilding increased more than expected in March amid a rebound in the construction of multi-family housing units, but weakness in the single-family segment suggested the housing market was slowing. Housing starts rose 1.9% to a seasonally adjusted annual rate of 1.319 million units, the Commerce Department said on Tuesday. Data for February was revised up to show groundbreaking declining to a 1.295 million-unit pace instead of the previously reported 1.236 million units. For more, click here...
4/17/2018


Builder confidence index slips one point
Builder confidence in the market for newly-built single-family homes edged down one point to a level of 69 in April on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) but remains on firm ground. “Strong demand for housing is keeping builders optimistic about future market conditions,” said NAHB Chairman Randy Noel, a custom home builder from LaPlace, La. “However, builders are facing supply-side constraints, such as a lack of buildable lots and increasing construction material costs. Tariffs placed on Canadian lumber and other imported products are pushing up prices and hurting housing affordability.” For more, click here...
4/16/2018


Canadian home sales plunge in March
The number of Canadian homes sold in March plunged 23% and the national average price was down 10% from the same month last year amid double-digit plunges in most housing markets across the country, according to the latest monthly sales data released Friday. The Canadian Real Estate Association said the level of sales activity marked a four-year low for the month of March and was 7% below the 10-year average. Still, national home sales were up from the previous month by 1.3%, according to CREA’s latest statistics. For more, click here...
4/13/2018


Mortgage rates hold steady
Freddie Mac (OTCQB:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates continuing to hold steady. 30-year fixed-rate mortgage (FRM) averaged 4.42% with an average 0.4 point for the week ending April 12, up from last week when it averaged 4.40%. A year ago at this time, the 30-year FRM averaged 4.08%. 15-year FRM this week averaged 3.87% with an average 0.4 point, the same as last week. A year ago at this time, the 15-year FRM averaged 3.34%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.61% this week with an average 0.3 point, down from last week when it averaged 3.62%. A year ago at this time, the 5-year ARM averaged 3.18%. For more, click here...
4/12/2018


Canadian new home prices fall for first time since 2010
Canadian new home prices fell for the first time since 2010 in February, led by a drop in Toronto as buyers were squeezed by higher interest rates and tougher mortgage regulations. Prices in the nation’s largest city fell 0.6%, the second monthly decline and the biggest in eight years. Builders also charged the same or less across much of Toronto’s surrounding cities, an area known as the Golden Horseshoe. For more, click here...
4/12/2018


Mortgage applications decrease
Mortgage applications decreased 1.9% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 6. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.9% 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 decreased 2% from one week earlier. The unadjusted Purchase Index decreased 1% compared with the previous week and was 0.5% lower than the same week one year ago.
4/11/2018


Canada building permits dip in February
The value of Canadian building permits dipped by 2.6% in February, in part due to lower construction intentions for single-family homes in Ontario, Statistics Canada said on Tuesday. The value of permits for single-family dwellings edged lower by 1.6%, pulled down by a 6.9% decline in Ontario, Canada's most populous province. Toronto, the country's largest city, recorded a 13.6% decrease. For more, click here...
4/10/2018


Mortgage rates down 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 4.40% with an average 0.5 point for the week ending April 5, down from last week when it averaged 4.44%. A year ago at this time, the 30-year FRM averaged 4.10%. 15-year FRM this week averaged 3.87% with an average 0.4 point, down from last week when it averaged 3.90%. A year ago at this time, the 15-year FRM averaged 3.36%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.62% this week with an average 0.4 point, down from last week when it averaged 3.66%. A year ago at this time, the 5-year ARM averaged 3.19%. For more, click here...
4/5/2018


Mortgage applications decrease
Mortgage applications decreased 3.3% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 30. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.3% 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 5% from the previous week. The seasonally adjusted Purchase Index decreased 2% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 5% higher than the same week one year ago. For more, click here...
4/4/2018


Home price index remains on the rise
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for February 2018, which shows home prices rose both year over year and month over month. Home prices increased nationally year over year by 6.7% — from February 2017 to February 2018 — and on a month-over-month basis, home prices increased by 1% in February 2018 — compared with January 2018 — according to the CoreLogic HPI. For more, click here...
4/3/2018


U.S. construction spending barely up in February
U.S. construction spending rose less than expected in February amid a steep decline in investment in public construction projects. The Commerce Department said on Monday construction spending edged up 0.1% after being unchanged in January. Economists polled by Reuters had forecast construction spending accelerating 0.5% in February. Construction spending increased 3.0% on a year-on-year basis. For more, click here...
4/2/2018


Mortgage rates little changed
Freddie Mac (OTCQB:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates holding largely steady for the week. 30-year fixed-rate mortgage (FRM) averaged 4.44% with an average 0.5 point for the week ending March 29, down from last week when it averaged 4.45%. A year ago at this time, the 30-year FRM averaged 4.14%. 15-year FRM this week averaged 3.90% with an average 0.5 point, down from last week when it averaged 3.91%. A year ago at this time, the 15-year FRM averaged 3.39%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.66% this week with an average 0.4 point, down from last week when it averaged 3.68%. A year ago at this time, the 5-year ARM averaged 3.18%. For more, click here...
3/29/2018


Mortgage applications increase
Mortgage applications increased 4.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 23. The Market Composite Index, a measure of mortgage loan application volume, increased 4.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 5% compared with the previous week. The Refinance Index increased 7% from the previous week. The seasonally adjusted Purchase Index increased 3% from one week earlier. The unadjusted Purchase Index increased 4% compared with the previous week and was 8% higher than the same week one year ago.
3/28/2018


U.S. pending home sales rise in February
Contracts to buy previously owned homes rose in February, the National Association of Realtors said on Wednesday. The NAR's pending home sales index increased to a reading of 107.5, up 3.1% from the prior month. January's index was revised to 104.3 from 104.6. For more, click here...
3/28/2018


Home price index up in January
Home prices in the U.S. started 2018 on the rise, outpacing the rate of economic growth. Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index reported a 6.2% annual gain in January, down slightly from 6.3% in December. The 20-city composite rose 6.4% from a year ago, and after seasonal adjustment it posted a 0.8% month-over-month increase, beating analysts estimates of 0.6%. Low inventory of homes for sale continued to drive prices. For more, click here...
3/27/2018


New-home sales fall for third straight month in February
Sales of new U.S. single-family homes unexpectedly fell for a third straight month in February, weighed down by steep declines in the Midwest and West. The Commerce Department said on Friday new home sales dropped 0.6% to a seasonally adjusted annual rate of 618,000 units last month. January's sales pace was revised up to 622,000 units from the previously reported 593,000 units. For more, click here...
3/23/2018


Mortgage rates hold steady
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing little change to mortgage rates after falling for the first time in 2018 last week. 30-year fixed-rate mortgage (FRM) averaged 4.45% with an average 0.5 point for the week ending March 22, up from last week when it averaged 4.44%. A year ago at this time, the 30-year FRM averaged 4.23%. 15-year FRM this week averaged 3.91% with an average 0.5 point, up from last week when it averaged 3.90%. A year ago at this time, the 15-year FRM averaged 3.44%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.68% this week with an average 0.4 point, up from last week when it averaged 3.67%. A year ago at this time, the 5-year ARM averaged 3.24%. For more, click here...
3/22/2018


Existing-home sales rebound 3% in February
Despite consistently low inventory levels and faster price growth, existing-home sales bounced back in February after two straight months of declines, according to the National Association of Realtors®. Sizable sales increases in the South and West offset declines in the Northeast and Midwest. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, grew 3.0% to a seasonally adjusted annual rate of 5.54 million in February from 5.38 million in January. After last month’s increase, sales are now 1.1% above a year ago. For more, click here...
3/21/2018


Mortgage applications decrease
Mortgage applications decreased 1.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 16. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.1% 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 decreased 5% from the previous week. The seasonally adjusted Purchase Index increased 1% from one week earlier. The unadjusted Purchase Index increased 2% compared with the previous week and was 6% higher than the same week one year ago. For more, click here...
3/21/2018


U.S. housing starts fell 7% in February
U.S. homebuilders broke ground on fewer apartment complexes in February, causing overall housing starts to fall 7%. The Commerce Department said Friday that housing starts last month were at a seasonally adjusted annual pace of 1.24 million, a decline that was anticipated after construction surged in January to 1.33 million. February's slowdown in construction came from a 28% plunge in starts for multi-family buildings. Groundbreakings for single-family houses actually rose 2.9%. For more, click here...
3/16/2018


Mortgage rates drop for first time in 2018
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed mortgage rate dropping after nine consecutive weeks of increases. 30-year fixed-rate mortgage (FRM) averaged 4.44% with an average 0.5 point for the week ending March 15, down from last week when it averaged 4.46%. A year ago at this time, the 30-year FRM averaged 4.30%. 15-year FRM this week averaged 3.90% with an average 0.5 point, down from last week when it averaged 3.94%. A year ago at this time, the 15-year FRM averaged 3.50%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.67% this week with an average 0.4 point, up from last week when it averaged 3.63%. A year ago at this time, the 5-year ARM averaged 3.28%. For more, click here...
3/15/2018


Canadian home sales fall sharply in February
Canadian home sales fell 16.9% in February, while the national average sale price dropped 5%, compared to a year earlier. New monthly numbers from the Canadian Real Estate Association also show that national home sales declined 6.5% from January to February, the second consecutive monthly decline and the lowest reading in nearly five years. For more, click here...
3/15/2018


Builder confidence remains on solid footing
Builder confidence in the market for newly-built single-family homes edged down one point to a level of 70 in March from a downwardly revised February reading on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the fourth consecutive month at or above a level of 70 for the HMI, an indication of strong single-family housing market conditions. Builders’ optimism continues to be fueled by growing consumer demand for housing and confidence in the market. A strong labor market, rising incomes, and a growing economy are boosting demand for homeownership even as interest rates rise. For more, click here...
3/15/2018


Canadian home prices dip in February
Canadian home prices dipped in February after two consecutive months of gains, weighed by declines in Toronto and a number of other cities, data showed on Wednesday. The Teranet-National Bank Composite House Price Index, which measures changes for repeat sales of single-family homes, showed prices were down 0.1% last month compared to January. For more, click here...
3/14/2018


Purchase applications up, refis down
Mortgage applications increased 0.9% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 9. The Market Composite Index, a measure of mortgage loan application volume, increased 0.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2% compared with the previous week. The Refinance Index decreased 2% from the previous week. The seasonally adjusted Purchase Index increased 3% from one week earlier. The unadjusted Purchase Index increased 5% compared with the previous week and was 3% higher than the same week one year ago. For more, click here...
3/14/2018


Can mass timber help California build its way out of housing crisis?
If California’s gubernatorial candidates are to fulfill their ambituous goal of adding up to 3.5 million new housing units across the state over the next eight years, new efforts will need to be undertaken to streamline and reform the state’s sagging construction industry. Could this effort create an opening for mass timber construction to take hold in the Golden State? It might. For a few reasons why, click here...
3/9/2018


Prices of new homes flatten in Canada
Canadian new home prices were unchanged for the second month in a row in January, in part due to weakness in Toronto, the country's single largest market, Statistics Canada said on Thursday. Analysts in a Reuters poll had expected prices to rise by 0.1% from December. January marked the first time in exactly three years that home prices have stayed flat for two consecutive months. In Toronto, which represents 27.9% of the overall market in Canada, prices slipped by 0.1%, the first decline since July 2014. For more, click here...
3/8/2018


Mortgage rates push higher
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed mortgage rate increasing for the ninth consecutive week. 30-year fixed-rate mortgage (FRM) averaged 4.46% with an average 0.5 point for the week ending March 8, up from last week when it averaged 4.43%. A year ago at this time, the 30-year FRM averaged 4.21%. 15-year FRM this week averaged 3.94% with an average 0.5 point, up from last week when it averaged 3.90%. A year ago at this time, the 15-year FRM averaged 3.42%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.63% this week with an average 0.4 point, up from last week when it averaged 3.62%. A year ago at this time, the 5-year ARM averaged 3.23%. For more, click here...
3/8/2018


Canada housing starts, building permits rise on condo strength
Canadian housing starts rose unexpectedly in February and building permits surged in January as demand for condos continued to bolster an otherwise slowing market in Toronto, Canada’s largest city, separate reports showed on Thursday. Groundbreaking for new homes rose to a 229,737 unit annual rate in February, defying expectations for a flat month, as a surge in construction of new buildings with multiple units, typically condos, more than offset a slowdown in single-detached starts, the Canada Mortgage and Housing Corporation said. For more, click here...
3/8/2018


Mortgage applications increase slightly
Mortgage applications increased 0.3% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 2. The previous week's results included an adjustment for the Washington's Birthday (Presidents' Day) holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 0.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 13% compared with the previous week. The Refinance Index increased 2% from the previous week. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index increased 13% compared with the previous week and was 1% higher than the same week one year ago. For more, click here...
3/7/2018


Home price index remains on the rise
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 January 2018, which shows home prices rose both year over year and month over month. Home prices nationally increased year over year by 6.6% from January 2017 to January 2018, and on a month-over-month basis home prices increased by 0.5% in January 2018 compared with December 2017, according to the CoreLogic HPI. For more, click here...
3/6/2018


Persistent work force shortages challenge commercial construction industry
The Q1 2018 USG Corporation + U.S. Chamber of Commerce Commercial Construction Index (Index), released today, reveals nearly two-thirds of contractors are highly confident that demand for commercial construction will increase over the next year, However, continued concerns around labor shortages have put even greater pressure on the industry. To increase jobsite efficiency and improve labor productivity, increasingly more builders are turning to alternative construction solutions, like prefabrication and modularization. The Q1 Index indicates contractors turn to innovations such as prefabricated and modular building materials to create more efficient jobsites (89%), increase labor productivity (85%), drive cost savings (58%), and provide a competitive advantage in the marketplace (51%). For more, click here...
3/6/2018


Mortgage rates rise for eighth straight week
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed mortgage rate increasing for the eighth-consecutive week. 30-year fixed-rate mortgage (FRM) averaged 4.43% with an average 0.5 point for the week ending March 1, up from last week when it averaged 4.40%. A year ago at this time, the 30-year FRM averaged 4.10%. 15-year FRM this week averaged 3.90% with an average 0.5 point, up from last week when it averaged 3.85%. A year ago at this time, the 15-year FRM averaged 3.32%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.62% this week with an average 0.4 point, down slightly from last week when it averaged 3.65%. A year ago at this time, the 5-year ARM averaged 3.14%. For more, click here...
3/1/2018


U.S. construction spending flat as commercial building falls
Spending on U.S. construction projects was unchanged in January, held back by a sharp fall in commercial real estate building. The Commerce Department said Thursday that spending on the construction of single-family homes rose 0.6%, while apartment building fell. Construction of commercial projects, such as office towers and malls, fell 2.7%. Construction spending on new power plants plunged 6.2%. For more, click here...
3/1/2018


Mortgage applications increase
Mortgage applications increased 2.7% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 23. This week’s results include an adjustment for the Washington's Birthday (Presidents’ Day) holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 2.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6% compared with the previous week. The Refinance Index decreased 1% from the previous week. The seasonally adjusted Purchase Index increased 6% from one week earlier. The unadjusted Purchase Index decreased 1% compared with the previous week and was 3% higher than the same week one year ago. The refinance share of mortgage activity decreased to 41.8% of total applications from 44.4% the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 6.7% of total applications.
2/28/2018


Pending home sales stumble in January
After seeing a modest three-month rise in activity, pending home sales cooled considerably in January to their lowest level in over three years, according to the National Association of Realtors®. All major regions experienced monthly and annual declines in contract signings last month. The Pending Home Sales Index, a forward-looking indicator based on contract signings, fell 4.7% to 104.6 in January from a downwardly revised 109.8 in December 2017. After last month’s retreat, the index is now 3.8% below a year ago and at its lowest level since October 2014 (104.1). For more, click here...
2/28/2018


Home prices ended 2017 on high note
Home prices continued to climb as 2017 ended. The S&P CoreLogic Case-Shiller National Home Price Index rose 6.3% in December, up from 6.1% a month earlier. In December, the 20-City Composite posted a slight dip from November, with a 6.3% year over year increase, in line with analysts estimates of a 6.35% year-over-year increase. Record low inventory continued to elevate prices through the end of last year. For more, click here...
2/27/2018


U.S. new-home sales drop to five-month low in January
Sales of new U.S. single-family homes fell for a second straight month in January, weighed down by steep declines in the Northeast and South, which could raise concerns the housing market is slowing down. The weak report from the Commerce Department on Monday came on the heels of data last week showing sales of previously owned homes dropped for a second consecutive month in January amid near record low housing inventory. A severe shortage of houses, especially on the lower end of the market, is pushing up prices and sidelining some first-time buyers. The Commerce Department said new home sales dropped 7.8% to a seasonally adjusted annual rate of 593,000 units last month, the lowest level since August 2017. For more, click here...
2/26/2018


Mortgage rates continue upward climb
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed mortgage rate increasing for the seventh-consecutive week. 30-year fixed-rate mortgage (FRM) averaged 4.40% with an average 0.5 point for the week ending February 22, up from last week when it averaged 4.38%. A year ago at this time, the 30-year FRM averaged 4.16%. 15-year FRM this week averaged 3.85% with an average 0.5 point, up from last week when it averaged 3.84%. A year ago at this time, the 15-year FRM averaged 3.37%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.65% this week with an average 0.4 point, up from last week when it averaged 3.63%. A year ago at this time, the 5-year ARM averaged 3.16%. For more, click here...
2/22/2018


Tight supply, rising prices weigh on U.S. home sales
U.S. home sales unexpectedly fell in January, leading to the biggest year-on-year decline in more than three years, as a persistent shortage of houses pushed up prices and kept first-time buyers out of the market. The National Association of Realtors said on Wednesday that existing home sales dropped 3.2% to a seasonally adjusted annual rate of 5.38 million units last month. It was the second straight monthly decline and reflected decreases in all four regions. For more, click here...
2/21/2018


Mortgage applications decrease
Mortgage applications decreased 6.6% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending February 16. The Market Composite Index, a measure of mortgage loan application volume, decreased 6.6% 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 7% from the previous week. The seasonally adjusted Purchase Index decreased 6% from one week earlier. The unadjusted Purchase Index increased 1% compared with the previous week and was 3% higher than the same week one year ago. For more, click here...
2/21/2018


New home size continues to fall
After increasing and leveling off in recent years, new single-family home size continued to decline during the final quarter of 2017. This pivot marks a reversal of the trend that had been in place as builders focused on the higher end of the market during the start of the recovery. As the entry-level market expands, NAHB expects typical new home size to decline further. According to fourth quarter 2017 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area was slightly lower at 2,371 square feet. Average (mean) square footage for new single-family homes declined to 2,571 square feet. For more, click here...
2/19/2018


U.S. housing starts rebound; permits highest since 2007
U.S. homebuilding increased to more than a one-year high in January, boosted by a rebound in the construction of single-family housing units. Further gains are likely as building permits soared to their highest level since 2007. Housing starts jumped 9.7% to a seasonally adjusted annual rate of 1.326 million units, the Commerce Department said on Friday. That was the highest level since October 2016 and followed an upwardly revised sales pace of 1.209 million units. For more, click here...
2/16/2018


Builder confidence still strong in February
Builder confidence in the market for newly-built single-family homes remained unchanged at a healthy level of 72 in February on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Demand conditions are positive, but supply-side construction hurdles need to be managed, as scarce labor and building material price increases remain top concerns. In particular, the HMI gauge of future sales expectations has reached a post-recession high, an indicator that consumer demand for housing should grow in the months ahead. For more, click here...
2/15/2018


Mortgage rates continue to climb
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed mortgage rate reaching its highest level since April 2014. 30-year fixed-rate mortgage (FRM) averaged 4.38% with an average 0.6 point for the week ending February 15, up from last week when it averaged 4.32%. A year ago at this time, the 30-year FRM averaged 4.15%. 15-year FRM this week averaged 3.84% with an average 0.5 point, up from last week when it averaged 3.77%. A year ago at this time, the 15-year FRM averaged 3.35%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.63% this week with an average 0.4 point, up from last week when it averaged 3.57%. A year ago at this time, the 5-year ARM averaged 3.18%. For more, click here...
2/15/2018


Mortgage applications decrease
Mortgage applications decreased 4.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending February 9. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.1% 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 2% from the previous week. The seasonally adjusted Purchase Index decreased 6% from one week earlier. The unadjusted Purchase Index decreased 3% compared with the previous week and was 4% higher than the same week one year ago. For more, click here...
2/14/2018


Home prices in Canada rise on gains in Vancouver, Victoria
Canada's housing market saw prices rise on a national basis in January, but the growth was almost entirely due to strength in Vancouver and Victoria. The Teranet-National Bank National Composite House Price Index, which measures sale prices in 11 major markets, rose 0.3% in January over December. Teranet said the price bounce was not widespread, however, with only four markets climbing in January, and prices buoyed largely by a 1.2% increase in Vancouver's market -- which came on the heels of a 1.3% increase in December – and a 1% price increase in Victoria. For more, click here...
2/14/2018


Existing-home prices up 5.3% in 4Q
An uptick in existing-home sales in the final three months of 2017 pulled down housing inventory to an all-time low and kept home-price growth at its recent robust pace, according to the latest quarterly report by the National Association of REALTORS®. The national median existing single-family home price in the fourth quarter was $247,800, which is up 5.3% from the fourth quarter of 2016 ($235,400). The median price during last year's third quarter climbed 5.6% from the third quarter of 2016. For more, click here...
2/13/2018


Mortgage rates jump again
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed mortgage rate hitting its highest mark since December 2016. 30-year fixed-rate mortgage (FRM) averaged 4.32% with an average 0.6 point for the week ending February 8, up from last week when it averaged 4.22%. A year ago at this time, the 30-year FRM averaged 4.17%. 15-year FRM this week averaged 3.77% with an average 0.5 point, up from last week when it averaged 3.68%. A year ago at this time, the 15-year FRM averaged 3.39%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.57% this week with an average 0.4 point, up from last week when it averaged 3.53%. A year ago at this time, the 5-year ARM averaged 3.21%. For more, click here...
2/8/2018


New Canadian home prices stall for first time since 2015
New Canadian home prices stalled for the first time in almost three years, another signal that the boom in Toronto has been slowed by higher interest rates and tougher rules for buyers. Statistics Canada’s index of new home prices was unchanged in December, the first time that’s happened since April 2015, the Ottawa-based agency said Thursday. For more, click here...
2/8/2018


Canadian housing starts trend stable in January
The trend in housing starts was 224,865 units in January 2018, compared to 226,346 units in December 2017, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. "The national trend in housing starts held steady for a third consecutive month in January, remaining near the 10-year high set in December," said Bob Dugan, CMHC's chief economist. For more, click here...
2/8/2018


Canada building permits rise in December
The value of Canadian building permits rose more than expected in December, boosted by plans to build single-family homes in Ontario, which took steps to cool the Toronto market earlier last year, data from Statistics Canada showed on Wednesday. The overall seasonally-adjusted 4.8% increase in building permits topped economists’ forecasts for a 2% gain. November was upwardly revised to a decline of 7.3% from the initially reported 7.7% decline. For more, click here...
2/7/2018


Mortgage applications increase slightly
Mortgage applications increased 0.7% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 2. The Market Composite Index, a measure of mortgage loan application volume, increased 0.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 4% compared with the previous week. The Refinance Index increased 1% from the previous week. The seasonally adjusted Purchase Index remained unchanged from one week earlier. The unadjusted Purchase Index increased 7% compared with the previous week and was 8% higher than the same week one year ago.
2/7/2018


Home price index continued to rise in December
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 December 2017, which shows home prices are up both year over year and month over month. Home prices nationally increased year over year by 6.6% from December 2016 to December 2017, and on a month-over-month basis home prices increased by 0.5% in December 2017 compared with November 2017, according to the CoreLogic HPI. For more, click here...
2/6/2018


U.S. construction spending hits all-time high
U.S. construction spending increased more than expected in December as investment in private construction projects rose to a record high and federal government outlays rebounded strongly. The Commerce Department said on Thursday construction spending rose 0.7% to an all-time high of $1.25 trillion. November's construction outlays were revised down to show a 0.6% increase instead of the previously reported 0.8% advance. For more, click here...
2/1/2018


Mortgage rates continue to rise
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates continuing their upward trend in 2018. 30-year fixed-rate mortgage (FRM) averaged 4.22% with an average 0.5 point for the week ending February 1, up from last week when it averaged 4.15%. A year ago at this time, the 30-year FRM averaged 4.19%. 15-year FRM this week averaged 3.68% with an average 0.5 point, up from last week when it averaged 3.62%. A year ago at this time, the 15-year FRM averaged 3.41%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.53% this week with an average 0.4 point, up from last week when it averaged 3.52%. A year ago at this time, the 5-year ARM averaged 3.23%. For more, click here...
2/1/2018


Pending home sales tick up 0.5% in December
Pending home sales were up slightly in December for the third consecutive month, according to the National Association of Realtors®. In 2018, existing-home sales and price growth are forecast to moderate, primarily because of the new tax law's expected impact in high-cost housing markets. The Pending Home Sales Index, a forward-looking indicator based on contract signings, moved higher 0.5% to 110.1 in December from an upwardly revised 109.6 in November. With last month's modest increase, the index is now 0.5% above a year ago. For more, click here...
1/31/2018


Mortgage applications decrease
Mortgage applications decreased 2.6% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending January 26. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.6% 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 3% from the previous week. The seasonally adjusted Purchase Index decreased 3% from one week earlier. The unadjusted Purchase Index increased 15% compared with the previous week and was 10% higher than the same week one year ago. For more, click here...
1/31/2018


Home prices rise in November
Home prices continued to climb due to depressed inventory and slow construction activity. The S&P CoreLogic Case-Shiller National Home Price Index rose 6.2% in November, up from 6.1% in the previous month — marking the 16th consecutive month of at least 5% year-over-year growth. The 20-City Composite posted a 6.4% year-over-year increase, beating analysts’ estimate of 6.3%. For more, click here...
1/30/2018


Mortgage rates jump again
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates rising for the third consecutive week. 30-year fixed-rate mortgage (FRM) averaged 4.15% with an average 0.5 point for the week ending January 25, up from last week when it averaged 4.04%. A year ago at this time, the 30-year FRM averaged 4.19%. 15-year FRM this week averaged 3.62% with an average 0.5 point, up from last week when it averaged 3.49%. A year ago at this time, the 15-year FRM averaged 3.40%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.52% this week with an average 0.4 point, up from last week when it averaged 3.46%. A year ago at this time, the 5-year ARM averaged 3.20%. For more, click here...
1/25/2018


New-home sales decline 9.3% in December
Sales of new U.S. single-family homes fell more than expected in December, recording their biggest drop in nearly 1-1/2 years, likely as the boost from the replacement of flood-damaged houses in parts of the South affected by hurricanes faded. The Commerce Department said on Thursday new home sales declined 9.3% to a seasonally adjusted annual rate of 625,000 units last month. The percentage decrease was the largest since August 2016. For more, click here...
1/25/2018


Mortgage applications increase
Mortgage applications increased 4.5% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending January 19. This week's results included an adjustment for the MLK Day holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 4.5% 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 increased 1% from the previous week. The seasonally adjusted Purchase Index increased 6% from one week earlier to its highest level since April 2010. The unadjusted Purchase Index increased 2% compared with the previous week and was 7% higher than the same week one year ago. For more, click here...
1/24/2018


Existing-home sales fade in December; 2017 finishes higher
Existing-home sales subsided in most of the country in December, but 2017 as a whole edged up 1.1% and ended up being the best year for sales in 11 years, 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, increased 1.1% in 2017 to a 5.51 million sales pace and surpassed 2016 (5.45 million) as the highest since 2006 (6.48 million). In December, existing-home sales slipped 3.6% to a seasonally adjusted annual rate of 5.57 million from a downwardly revised 5.78 million in November. For more, click here...
1/24/2018


U.S. housing starts fall 8.2%
U.S. homebuilding fell more than expected in December, recording its biggest drop in just over a year, amid a steep decline in the construction of single-family housing units following two months of hefty gains. Housing starts decreased 8.2% to a seasonally adjusted annual rate of 1.192 million units, the Commerce Department said on Thursday. November's sales pace was revised up to 1.299 million units from the previously reported 1.297 million units. For more, click here...
1/18/2018


Mortgage rates higher for second consecutive week
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates rising for the second consecutive week. 30-year fixed-rate mortgage (FRM) averaged 4.04% with an average 0.6 point for the week ending January 18, up from last week when it averaged 3.99%. A year ago at this time, the 30-year FRM averaged 4.09%. 15-year FRM this week averaged 3.49% with an average 0.5 point, up from last week when it averaged 3.44%. A year ago at this time, the 15-year FRM averaged 3.34%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.46% this week with an average 0.3 point, unchanged from last week. A year ago at this time, the 5-year ARM averaged 3.21%. For more, click here...
1/18/2018


Mortgage applications increase
Mortgage applications increased 4.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending January 12. The Market Composite Index, a measure of mortgage loan application volume, increased 4.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 32% compared with the previous week. The Refinance Index increased 4% from the previous week. The seasonally adjusted Purchase Index increased 3% from one week earlier. The unadjusted Purchase Index increased 35% compared with the previous week and was 7% higher than the same week one year ago. For more, click here...
1/17/2018


Builder confidence remains strong
Builder confidence in the market for newly-built single-family homes dropped two points to a level of 72 in January on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) after reaching an 18-year high in December 2017. “Builders are confident that changes to the tax code will promote the small business sector and boost broader economic growth,” said NAHB Chairman Randy Noel, a custom home builder from LaPlace, La. “Our members are excited about the year ahead, even as they continue to face building material price increases and shortages of labor and lots.” For more, click here...
1/17/2018


Mortgage rates bounce back up
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates rising across the board. 30-year fixed-rate mortgage (FRM) averaged 3.99% with an average 0.5 point for the week ending January 11, up from last week when it averaged 3.95%. A year ago at this time, the 30-year FRM averaged 4.12%. 15-year FRM this week averaged 3.44% with an average 0.5 point, up from last week when it averaged 3.38%. A year ago at this time, the 15-year FRM averaged 3.37%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.46% this week with an average 0.4 point, up from last week when it averaged 3.45%. A year ago at this time, the 5-year ARM averaged 3.23%. For more, click here...
1/11/2018


Canada new-home prices edge up in November
Canadian new home prices edged up in November, boosted by gains in Ottawa even as prices were unchanged in a number of other markets, including the major city of Toronto, data from Statistics Canada showed on Thursday. The 0.1% increase from October was shy of economists’ expectations for a 0.2% gain. The new housing price index excludes apartments and condominiums. For more, click here...
1/11/2018


Economic panel predicts housing will grow in 2018
The newly enacted tax law will create a more favourable tax climate for the business community, which should spur job and economic growth and keep single-family housing production on a gradual upward trajectory in 2018, according to economists speaking at the NAHB International Builders' Show in Orlando, Fla., Tuesday. "We expect that tax reform will boost GDP growth to 2.6% in 2018, and this added economic activity will also bode well for housing, although there will be some transition effects in high-tax jurisdictions," said NAHB chief economist Robert Dietz. "Ongoing job creation, expected wage increases and tight existing home inventory will also boost the housing market in the year ahead." For more, click here...
1/10/2018


Mortgage applications increase
Mortgage applications increased 8.3% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 5. This week’s results included an adjustment for the New Year’s holiday. Results for the previous week ending 12/29/17 were revised. The Market Composite Index, a measure of mortgage loan application volume, increased 8.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 46% compared with the previous week. The Refinance Index increased 11% from the previous week. The seasonally adjusted Purchase Index increased 5% from one week earlier. The unadjusted Purchase Index increased 44% compared with the previous week and was 1% lower than the same week one year ago.
1/10/2018


Canada housing starts fall in December
Canadian housing starts fell in December, as expected, as a sharp decline in multiple unit urban starts outweighed a rise in single-detached starts, data from the Canada Mortgage and Housing Corporation showed on Tuesday. December’s decline bucked a strong year for homebuilding, with total urban starts up 9.2% from 2016 as developers continued to build condos and apartments even as Canada’s long housing boom showed some signs of slowing. For more, click here...
1/9/2018


Contractors limited by labor shortage
The construction sector is ready to boom in 2018, but there’s just one problem: There aren’t enough qualified workers. A new report released by the Associated General Contractors of America (AGC), found that 75% of contractors want to increase their headcount in 2018, thanks to the newly-approved tax reform bill, the government’s push to rollback red tape, strong economic growth and a continuation of favorable sector trends. However, 50% of companies reported having a difficult time filling both craft and salaried worker positions. For more, click here...
1/8/2018


Construction boom shaping up for 2018
All signs and numbers point to a huge year for the construction industry. Even in December, with much of the nation frozen, the construction industry added 30,000 jobs, according to the Bureau of Labor Statistics. For all of 2017, construction added 210,000 jobs, a 35% increase over 2016. Construction spending is also soaring, rising more than expected in November to a record $1.257 trillion, according to the Commerce Department. That was up 2.4% annually. For more, click here...
1/5/2018


Mortgage rates drop
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates dropping to start the year. 30-year fixed-rate mortgage (FRM) averaged 3.95% with an average 0.5 point for the week ending January 4, down from last week when it averaged 3.99%. A year ago at this time, the 30-year FRM averaged 4.20%. 15-year FRM this week averaged 3.38% with an average 0.5 point, down from last week when it averaged 3.44%. A year ago at this time, the 15-year FRM averaged 3.44%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.45% this week with an average 0.4 point, down from last week when it averaged 3.47%. A year ago at this time, the 5-year ARM averaged 3.33%. For more, click here...
1/4/2018


U.S. construction spending hits record high
U.S. factory activity increased more than expected in December, boosted by a surge in new orders growth, in a further sign of strong economic momentum at the end of 2017. The economy’s robust fundamentals were also underscored by other data on Wednesday showing construction spending rising to a record high in November amid broad gains in both private and public outlays. For more, click here...
1/3/2018


Mortgage applications decrease over two-week period
Mortgage applications decreased 2.8% from two weeks earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending December 29. The results include adjustments to account for the Christmas holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.8% on a seasonally adjusted basis from two weeks earlier. On an unadjusted basis, the Index decreased 42% compared with two weeks ago. The Refinance Index decreased 7% from two weeks ago. The seasonally adjusted Purchase Index increased 1% from two weeks earlier. The unadjusted Purchase Index decreased 40% compared with two weeks ago and was 3% higher than the same week one year ago. For more, click here...
1/3/2018


Home price index posts another gain
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 November 2017, which shows home prices are up both year over year and month over month. Home prices nationally increased year over year by 7% from November 2016 to November 2017, and on a month-over-month basis home prices increased by 1% in November 2017 compared with October 2017, according to the CoreLogic HPI. For more, click here...
1/2/2018


Mortgage rates move higher
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates continuing to inch higher at the end of 2017. 30-year fixed-rate mortgage (FRM) averaged 3.99% with an average 0.5 point for the week ending December 28, up from last week when it averaged 3.94%. A year ago at this time, the 30-year FRM averaged 4.32%. 15-year FRM this week averaged 3.44% with an average 0.5 point, up from last week when it averaged 3.38%. A year ago at this time, the 15-year FRM averaged 3.55%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.47% this week with an average 0.3 point, up from last week when it averaged 3.39%. A year ago at this time, the 5-year ARM averaged 3.30%. For more, click here...
12/28/2017


Pending home sales inch up in November
Pending home sales were mostly unmoved in November, but did squeak out a minor gain both on a monthly and annualized basis, according to the National Association of Realtors®. Heading into 2018, existing-home sales and price growth are forecast to slow, primarily because of the altered tax benefits of homeownership affecting some high-cost areas. The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 0.2% to 109.5 in November from 109.3 in October. With last month’s modest increase, the index remains at its highest reading since June (110.0), and is now 0.8% above a year ago. For more, click here...
12/27/2017


New-home sales increase biggest in 25 years
New U.S. home sales saw their largest monthly increase in more than 25 years in November, with buyers in the fire-stricken West snatching up new houses at a rapid rate, according to government data released Friday. Sales of new homes soared 17.5% compared to October, reaching an annual rate of 733,000 units, seasonally adjusted -- the largest monthly increase since January 1992 and the fastest sales pace since July 2007. For more, click here...
12/22/2017


Mortgage rates up slightly
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates inching up as we approach the end of 2017. 30-year fixed-rate mortgage (FRM) averaged 3.94% with an average 0.5 point for the week ending December 21, up from last week when it averaged 3.93%. A year ago at this time, the 30-year FRM averaged 4.30%. 15-year FRM this week averaged 3.38% with an average 0.5 point, up from last week when it averaged 3.36%. A year ago at this time, the 15-year FRM averaged 3.52%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.39% this week with an average 0.3 point, up from last week when it averaged 3.36%. A year ago at this time, the 5-year ARM averaged 3.32%. For more, click here...
12/21/2017


Mortgage applications decrease
Mortgage applications decreased 4.9% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending December 15. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.9% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6% compared with the previous week. The Refinance Index decreased 3% from the previous week. The seasonally adjusted Purchase Index decreased 6% from one week earlier. The unadjusted Purchase Index decreased 9% compared with the previous week and was 1% higher than the same week one year ago. For more, click here...
12/20/2017


Existing-home sales in November hit strongest pace in decade
Existing-home sales surged for the third straight month in November and reached their strongest pace in almost 11 years, according to the National Association of Realtors®. All major regions except for the West saw a significant hike in sales activity last month. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, jumped 5.6% to a seasonally adjusted annual rate of 5.81 million in November from an upwardly revised 5.50 million in October. For more, click here...
12/20/2017


Single-family starts jump to 10-year high
U.S. single-family homebuilding and permits surged to more than 10-year highs in November, in a hopeful sign for a housing market that has been hobbled by supply constraints. Builders have struggled to meet robust demand for housing, which is being fueled by a labor market near full employment. Land and skilled labor have been in short supply, while lumber price increases have accelerated. The Commerce Department said on Tuesday that single-family homebuilding, which accounts for the largest share of the housing market, jumped 5.3% to a rate of 930,000 units. That was the highest level since September 2007. For more, click here...
12/19/2017


Builder confidence reaches 18-year high
Builder confidence in the market for newly-built single-family homes increased five points to a level of 74 in December on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) after a downwardly revised November reading. This was the highest report since July 1999, over 18 years ago. “Housing market conditions are improving partially because of new policies aimed at providing regulatory relief to the business community,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. For more, click here...
12/18/2017


New-home prices edge up in Canada
Canadian new home prices edged up by 0.1% in October on strength in the capital, Ottawa, while prices in Toronto rose for the first time in five months, Statistics Canada said on Thursday. Analysts in a Reuters poll had forecast a 0.2% increase from September. Prices increased by 3.5% compared to October 2016. For more, click here...
12/14/2017


Little change for mortgage rates
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates holding relatively flat across the board. 30-year fixed-rate mortgage (FRM) averaged 3.93% with an average 0.5 point for the week ending December 14, down from last week when it averaged 3.94%. A year ago at this time, the 30-year FRM averaged 4.16%. 15-year FRM this week averaged 3.36% with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 3.37%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.36% this week with an average 0.3 point, up from last week when it averaged 3.35%. A year ago at this time, the 5-year ARM averaged 3.19%. For more, click here...
12/14/2017


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 December 8. 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 3% from the previous week. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index decreased 6% compared with the previous week and was 10% higher than the same week one year ago. For more, click here...
12/13/2017


Canada housing starts surge in November
Canadian housing starts surged unexpectedly in November, driving a six-month trend to its highest point in almost 10 years, amid a continued condominium-building boom in Toronto, data from the Canada Mortgage and Housing Corporation showed on Friday. The seasonally adjusted annual rate of starts rose to 252,184 in November from October’s downwardly revised 222,695. Economists had expected a decline to a 215,000 annual rate. For more, click here...
12/8/2017


Mortgage rates rise across the board
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rising, but still lower than this time last year. 30-year fixed-rate mortgage (FRM) averaged 3.94% with an average 0.5 point for the week ending December 7, up from last week when it averaged 3.90%. A year ago at this time, the 30-year FRM averaged 4.13%. 15-year FRM this week averaged 3.36% with an average 0.5 point, up from last week when it averaged 3.30%. A year ago at this time, the 15-year FRM averaged 3.36%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.35% this week with an average 0.3 point, up from last week when it averaged 3.32%. A year ago at this time, the 5-year ARM averaged 3.17%. For more, click here...
12/7/2017


Mortgage applications increase
Mortgage applications increased 4.7% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 1. The prior week’s results included an adjustment for the Thanksgiving holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 4.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 47% compared with the previous week. The Refinance Index increased 9% from the previous week. The seasonally adjusted Purchase Index increased 2% from one week earlier. The unadjusted Purchase Index increased 38% compared with the previous week and was 8% higher than the same week one year ago.
12/6/2017


Home price index up 7% in October
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 October 2017, which shows home prices are up both year over year and month over month. Home prices nationally increased year over year by 7% from October 2016 to October 2017, and on a month-over-month basis home prices increased by 0.9% in October 2017 compared with September 2017, according to the CoreLogic HPI. For more, click here...
12/5/2017


U.S. construction spending rises at fastest clip in five months
U.S. construction spending rose more quickly than expected in October as public construction outlays surged and investment in private projects increased for the first time in four months. The Commerce Department said on Friday that construction spending increased 1.4% to $1.24 trillion, the swiftest advance in five months. For more, click here...
12/1/2017


Mortgage rates inch lower
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the average 30-year fixed mortgage rate inching lower. 30-year fixed-rate mortgage (FRM) averaged 3.90% with an average 0.5 point for the week ending November 30, down from last week when it averaged 3.92%. A year ago at this time, the 30-year FRM averaged 4.08%. 15-year FRM this week averaged 3.30% with an average 0.5 point, down from last week when it averaged 3.32%. A year ago at this time, the 15-year FRM averaged 3.34%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.32% this week with an average 0.3 point, up from last week when it averaged 3.22%. A year ago at this time, the 5-year ARM averaged 3.15%. For more, click here...
11/30/2017


Mortgage applications decrease
Mortgage applications decreased 3.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending November 24. This week's results include an adjustment for the Thanksgiving holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 34% compared with the previous week. The Refinance Index decreased 8% from the previous week to its lowest level since January 2017. The seasonally adjusted Purchase Index increased 2% from one week earlier to its highest level since September 2017. The unadjusted Purchase Index decreased 32% compared with the previous week and was 6% higher than the same week one year ago. For more, click here...
11/29/2017


Pending home sales strengthen 3.5% in October
Pending home sales rebounded strongly in October following three straight months of diminishing activity, but still continued their recent slide of falling behind year ago levels, according to the National Association of Realtors®. All major regions except for the West saw an increase in contract signings last month. The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 3.5% to 109.3 in October from a downwardly revised 105.6 in September. The index is now at its highest reading since June (110.0), but is still 0.6% below a year ago. For more, click here...
11/29/2017


U.S. home price increases accelerate
Home prices continued to climb in the U.S. The S&P CoreLogic Case-Shiller National Home Price Index rose 6.2% in September, up from 5.9% a month earlier — the fastest annual rate increase since June 2014. The index was up 0.4% in September from a month earlier, beating analysts’ estimate of 0.3%. For more, click here...
11/28/2017


New-home sales surge to 10-year high
Sales of new U.S. single-family homes unexpectedly rose in October, hitting their highest level in 10 years amid robust demand across the country. The Commerce Department said on Monday new-home sales increased 6.2% to a seasonally adjusted annual rate of 685,000 units last month. That was the highest level since October 2007 and followed September's slightly downwardly revised sales pace of 645,000 units. For more, click here...
11/27/2017


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 November 17. 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 2% compared with the previous week. The Refinance Index decreased 5% from the previous week. The seasonally adjusted Purchase Index increased 5% from one week earlier. The unadjusted Purchase Index increased 1% compared with the previous week and was 4% higher than the same week one year ago.
11/22/2017


Existing-home sales grow 2% in October
Existing-home sales increased in October to their strongest pace since earlier this summer, but continual supply shortages led to fewer closings on an annual basis for the second straight month, 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, increased 2.0% to a seasonally adjusted annual rate of 5.48 million in October from a downwardly revised 5.37 million in September. For more, click here...
11/21/2017


U.S. housing starts jump to one-year high
U.S. home building jumped to a one-year high in October, likely as disruptions caused by recent hurricanes in the South faded and communities in the region started replacing houses damaged by flooding. Housing starts surged 13.7% to a seasonally adjusted annual rate of 1.29 million units, the Commerce Department said on Friday. That was the highest level since October 2016. September's sales pace was revised up to 1.135 million units from the previously reported 1.127 million units. For more, click here...
11/17/2017


Builder confidence climbs to 8-month high in November
Builder confidence in the market for newly-built single-family homes rose two points to a level of 70 in November on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This was the highest report since March, and the second highest on record since July 2005. “November’s builder confidence reading is close to a post-recession high — a strong indicator that the housing market continues to grow steadily,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. “However, our members still face supply-side constraints, such as lot and labor shortages and ongoing building material price increases.” For more, click here...
11/16/2017


Mortgage rates bounce up
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the average 30-year fixed mortgage rate moving to its highest mark since July. 30-year fixed-rate mortgage (FRM) averaged 3.95% with an average 0.5 point for the week ending November 16, up from last week when it averaged 3.90%. A year ago at this time, the 30-year FRM averaged 3.94%. 15-year FRM this week averaged 3.31% with an average 0.5 point, up from last week when it averaged 3.24%. A year ago at this time, the 15-year FRM averaged 3.14%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.21% this week with an average 0.4 point, down from last week when it averaged 3.22%. A year ago at this time, the 5-year ARM averaged 3.07%. For more, click here...
11/16/2017


Canadian home sales edge up in October, but prices fall
Resales of Canadian homes rose 0.9% in October from September, but prices declined in the month and tighter mortgage rules will likely put more pressure on Canada's once-booming housing market, separate reports showed on Wednesday. The Canadian Real Estate Association said resales edged higher for a third straight month in October as the market stabilized after a series of mortgage rule changes and a foreign buyers' tax in Toronto doused demand in spring and summer. Actual sales, not seasonally adjusted, fell 4.3% from October 2016, while home prices were up 9.7% from a year earlier, according to the industry group. For more, click here...
11/15/2017


Mortgage applications increase
Mortgage applications increased 3.1% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 10. This week’s results do not include an adjustment for the Veterans’ Day holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 3.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2% compared with the previous week. The Refinance Index increased 6% from the previous week to its highest level since October 2017. The seasonally adjusted Purchase Index increased 0.4% from one week earlier. The unadjusted Purchase Index decreased 3% compared with the previous week and was 17% higher than the same week one year ago.
11/15/2017


Mortgage rates dip slightly
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey, showing average mortgage rates falling slightly across the board. 30-year fixed-rate mortgage (FRM) averaged 3.90% with an average 0.4 point for the week ending November 9, down from last week when it averaged 3.94%. A year ago at this time, the 30-year FRM averaged 3.57%. 15-year FRM this week averaged 3.24% with an average 0.5 point, down from last week when it averaged 3.27%. A year ago at this time, the 15-year FRM averaged 2.88%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.22% this week with an average 0.5 point, down from last week when it averaged 3.23%. A year ago at this time, the 5-year ARM averaged 2.88%. For more, click here...
11/9/2017


Canadian new home prices boosted by Vancouver gains
Canadian new home prices rose in September, lifted by gains in Vancouver, while prices in Toronto were unchanged for the fourth month in a row following provincial government measures to rein in the market, Statistics Canada data showed on Thursday. Nationally, prices increased 0.2% from the previous month, matching economists’ forecasts, and were up 3.8% on the year. The new housing price index excludes apartments and condominiums. For more, click here...
11/9/2017


Mortgage applications flat
Mortgage applications remained unchanged from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 3. The Market Composite Index, a measure of mortgage loan application volume, remained unchanged 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 1% from the previous week. The seasonally adjusted Purchase Index increased 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.
11/8/2017


Canadian housing starts rise in October
Canada Mortgage and Housing Corp. says the annual rate of housing starts ticked higher in October as the pace of new construction in the Vancouver region hit a 12-month high. The housing agency said Wednesday that housing starts for the month came in at a seasonally adjusted annual rate of 222,771 units in October, up from 219,293 units in September. For more, click here...
11/8/2017


Home price index up again in September
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 September 2017, which shows home prices are up strongly both year over year and month over month. Home prices nationally increased year over year by 7% from September 2016 to September 2017, and on a month-over-month basis, home prices increased by 0.9% in September 2017 compared with August 2017, according to the CoreLogic HPI. For more, click here...
11/7/2017


Mortgage applications decrease
Mortgage applications decreased 2.6% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 27. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.6% 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 5% from the previous week. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 10% higher than the same week one year ago. For more, click here...
11/1/2017


Construction spending rose in September
U.S. construction spending unexpectedly rose in September as a surge in public construction outlays offset the third straight monthly decline in investment in private projects. The Commerce Department said on Wednesday that construction spending increased 0.3% to $1.22 trillion. But August’s construction outlays were revised down to show a 0.1% gain instead of the previously reported 0.5% rise. For more, click here...
11/1/2017


NAHB: Has labor shortage reached 'crisis' status?
It’s been more than 10 years since there were this many unfilled construction jobs. And as NAHB Chief Economist Robert Dietz noted in a recent Eye On Housing article, the labor situation is likely to worsen in the months ahead. Builders all across the country are struggling to find enough skilled laborers to keep up with housing demand. And nowhere is this more concerning than in the regions of Texas and Florida impacted by hurricanes Harvey and Irma, where the recovery efforts have only just begun. For more, click here...
11/1/2017


Home prices reach new highs in August
Home prices in the U.S. ended the summer on a high note. The S&P CoreLogic Case-Shiller U.S. National Price Index was up 6.1% in August, up from 5.9% a month earlier. The 0.2% increase met analysts’ expectations. All but one of the 20 cities in the city index reported increases in August before and after seasonal adjustment. Low interest rates coupled with increased housing demand and limited existing home inventory continued to put upward pressure on prices. For more, click here...
10/31/2017


Survey: First-time buyers stifled by low supply, affordability
Despite solid interest in buying a home – sparked by steady job gains, record low mortgage rates and higher rents – the severe drought in housing supply in much of the country over the past year accelerated price growth and kept many first-time buyers out of the market. This is according to the National Association of Realtors®' 2017 Profile of Home Buyers and Sellers, which also identified numerous current consumer and housing trends, including: mounting student debt balances and smaller down payments; increases in single female and trade-up buyers; the growing occurrence of buyers paying the list price or higher; and the fact that nearly all respondents use a real estate agent to buy or sell a home, which kept for-sale-by-owner transactions at an all-time low of 8% for the third straight year. For more, click here...
10/30/2017


Pending home sales flatten in September
Pending home sales were unchanged in September, but activity declined on an annual basis both nationally and in all major regions, according to the National Association of Realtors®. The Pending Home Sales Index, a forward-looking indicator based on contract signings, was at 106.0 in September (unchanged from a downwardly revised August figure). The index is now at its lowest reading since January 2015 (104.7), is 3.5% below a year ago, and has fallen on an annual basis in five of the past six months. For more, click here...
10/26/2017


Mortgage rates jump across the board
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey, showing average mortgage rates hitting their highest marks since July. 30-year fixed-rate mortgage (FRM) averaged 3.94% with an average 0.5 point for the week ending October 26, up from last week when it averaged 3.88%. A year ago at this time, the 30-year FRM averaged 3.47%. 15-year FRM this week averaged 3.25% with an average 0.5 point, up from last week when it averaged 3.19%. A year ago at this time, the 15-year FRM averaged 2.78%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.21% this week with an average 0.4 point, up from last week when it averaged 3.17%. A year ago at this time, the 5-year ARM averaged 2.84%. For more, click here...
10/26/2017


New-home sales surge to 10-year high
Sales of new U.S. single-family homes unexpectedly rose in September, hitting their highest level in nearly 10 years, offering hope that the housing market was regaining speed after appearing to stall in recent months. The Commerce Department said on Wednesday new home sales surged 18.9% to a seasonally adjusted annual rate of 667,000 units last month amid an increase in all four regions. That was the highest level since October 2007 and followed August's upwardly revised sales pace of 561,000 units. For more, click here...
10/25/2017


Mortgage applications decrease
Mortgage applications decreased 4.6% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 20. The previous week's results included an adjustment for the Columbus Day holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 6% compared with the previous week. The Refinance Index decreased 3% from the previous week. The seasonally adjusted Purchase Index decreased 6% from one week earlier. The unadjusted Purchase Index increased 4% compared with the previous week and was 10% higher than the same week one year ago. For more, click here...
10/25/2017


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


Select a Month
Wednesday, July 18, 2018

MINI SHOPPING CART

View/Edit Full Cart Items: 0
Expand this panel for details +