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 e-mail to jeff@rlpi.com


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


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


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


Pace of U.S. housing starts slows in May
Homebuilders slowed down the pace of construction for the third straight month in May, a possible sign that the shortage of houses for sale might worsen. The Commerce Department says housing starts fell 5.5% in May to a seasonally adjusted annual rate of 1.09 million units. This comes after a 2.7% monthly decline in April and a 7.7% drop in March. Home construction is still 3.2% higher year-to-date, but that increase has been too modest to address the dwindling supply of homes. Building permits, an indicator of upcoming construction, tumbled 4.9% to 1.17 million. For more, click here...
6/16/2017


Builder confidence edges lower
Builder confidence in the market for newly-built single-family homes weakened slightly in June, down two points to a level of 67 from a downwardly revised May reading of 69 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). “Builder confidence levels have remained consistently sound this year, reflecting the ongoing gradual recovery of the housing market,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. For more, click here...
6/15/2017


Mortgage applications strong in May
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for May 2017 shows mortgage applications for new home purchases increased 15% compared to May 2016. Compared to April 2017, applications increased by 4% relative to the previous month. This change does not include any adjustment for typical seasonal patterns. "Following a decline in April, applications for new homes slightly rebounded month-over-month in May, setting up a 15% year over year increase relative to May of 2016," said Lynn Fisher, MBA''''s Vice President of Research and Economics. For more, click here...
6/15/2017


Mortgage rates inch up
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates increasing across the board for the first time in over a month. 30-year fixed-rate mortgage (FRM) averaged 3.91% with an average 0.5 point for the week ending June 15, from last week when it averaged 3.89%. A year ago at this time, the 30-year FRM averaged 3.54%. 15-year FRM this week averaged 3.18% with an average 0.5 point, up from last week when it averaged 3.16%. A year ago at this time, the 15-year FRM averaged 2.81%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.15% this week with an average 0.5 point, up from last week when it averaged 3.11%. A year ago at this time, the 5-year ARM averaged 2.74%. For more, click here...
6/15/2017


Mortgage applications increase
Mortgage applications increased 2.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 9. Last week’s results included an adjustment for the Memorial Day holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 2.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 27% compared with the previous week. The Refinance Index increased 9% from the previous week to the highest level since November 2016. The seasonally adjusted Purchase Index decreased 3% from one week earlier. The unadjusted Purchase Index increased 19% compared with the previous week and was 8% higher than the same week one year ago.
6/14/2017


Mortgage rates edge lower
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey, showing the 30-year fixed mortgage rate dropping for the fourth consecutive week and hitting its lowest level in nearly seven months. 30-year fixed-rate mortgage (FRM) averaged 3.89% with an average 0.5 point for the week ending June 8, down from last week when it averaged 3.94%. A year ago at this time, the 30-year FRM averaged 3.60%. 15-year FRM this week averaged 3.16% with an average 0.5 point, down from last week when it averaged 3.19%. A year ago at this time, the 15-year FRM averaged 2.87%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.11% this week with an average 0.5 point, the same as last week. A year ago at this time, the 5-year ARM averaged 2.82%. For more, click here...
6/8/2017


Canadian housing starts slip in May
The annual pace of housing starts in Canada slipped more than expected in May compared with April. The Canada Mortgage and Housing Corp. says the seasonally adjusted annual rate of housing starts fell to 194,663 units in May compared with 213,498 in April. For more, click here...
6/8/2017


Canadian home prices jump, led by Toronto
New housing prices in Canada jumped by 0.8% in April from March, the biggest gain in almost a year, amid keen buyer interest in the hot markets of Toronto and Vancouver, Statistics Canada said on Thursday. The monthly increase was the biggest since the 0.8% advance recorded in May 2016. Compared to April 2016, new house prices leapt by 3.9%, the highest year-on-year since the 4.1% seen in May 2008. For more, click here...
6/8/2017


Mortgage applications increase
Mortgage applications increased 7.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending June 2. This week's results included an adjustment for the Memorial Day holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 7.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 15% compared with the previous week. The Refinance Index increased 3% from the previous week. The seasonally adjusted Purchase Index increased 10% from one week earlier to its highest level since May 2010. The unadjusted Purchase Index decreased 14% compared with the previous week and was 6% higher than the same week one year ago. For more, click here...
6/7/2017


Canadian building permits decline in April
The value of Canadian building permits declined in April as there were fewer construction plans for single-family homes in Ontario, where a lack of supply has driven up home prices in some markets, data from Statistics Canada showed on Wednesday. Permits dipped 0.2%, the third monthly decrease in a row. Figures for March were upwardly revised to show a decline of 4.9% from the previously reported 5.8% decrease. For more, click here...
6/7/2017


Home price index shows 6.9% annual gain in April
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 April 2017, which shows home prices are up both year over year and month over month. Home prices nationwide, including distressed sales, increased year over year by 6.9% in April 2017 compared with April 2016 and increased month over month by 1.6% in April 2017 compared with March 2017, according to the CoreLogic HPI. For more, click here...
6/6/2017


Construction spending eases in April
Spending on construction sagged in April as a strong start to the year started to falter. Construction outlays ran at a seasonally adjusted annual rate of $1.22 trillion, 1.4% lower than March, the Commerce Department said Thursday. Economists surveyed by MarketWatch had forecast a 0.5% increase in April. For more, click here...
6/2/2017


30-year fixed mortgage rate moves lower
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed mortgage rate inching lower for the third consecutive week and setting a new low for the year. 30-year fixed-rate mortgage (FRM) averaged 3.94% with an average 0.5 point for the week ending June 1, down from last week when it averaged 3.95%. A year ago at this time, the 30-year FRM averaged 3.66%. 15-year FRM this week averaged 3.19% with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.92%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.11% this week with an average 0.5 point, up from last week when it averaged 3.07%. A year ago at this time, the 5-year ARM averaged 2.88%. For more, click here...
6/1/2017


Mortgage applications decrease
Mortgage applications decreased 3.4% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending May 26. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.4%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 6% from the previous week. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index decreased 3% compared with the previous week and was 7% higher than the same week one year ago. For more, click here...
5/31/2017


Pending home sales scale back in April
Pending home sales in April slumped for the second consecutive month and were down year-over-year nationally and in all four major regions, according to the National Association of Realtors®. Only the West saw an increase in contract signings last month. The Pending Home Sales Index, a forward-looking indicator based on contract signings, decreased 1.3% to 109.8 in April from a downwardly revised 111.3 in March. After last month's decline, the index is now 3.3% below a year ago, which is the first year-over-year decline since last December and the largest since June 2014 (7.1%). For more, click here...
5/31/2017


Home price growth continues unabated
U.S. home prices rose slightly less than what was anticipated for the month of March, according to new data from the S&P/Case-Shiller U.S. National Home Price Index. But the gains were enough to reach a 33-month high, climbing at the strongest rate in nearly three years. This, as inventory of homes for sale remains "unusually low," the group said. The national home price index increased 5.8% in March, while analysts were expecting home prices to rise by 5.9% for the month, according to Thomson Reuters consensus estimates. For more, click here...
5/30/2017


Mortgage rates slip to lowest mark in 2017
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates hitting their lowest mark of the year. 30-year fixed-rate mortgage (FRM) averaged 3.95 percent with an average 0.5 point for the week ending May 25, 2017, down from last week when it averaged 4.02 percent. A year ago at this time, the 30-year FRM averaged 3.64 percent. 15-year FRM this week averaged 3.19 percent with an average 0.5 point, down from last week when it averaged 3.27 percent. A year ago at this time, the 15-year FRM averaged 2.89 percent. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.07 percent this week with an average 0.4 point, down from last week when it averaged 3.13 percent. A year ago at this time, the 5-year ARM averaged 2.87 percent. For moreclick here...
5/25/2017


Mortgage applications increase
Mortgage applications increased 4.4 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending May 19, 2017. The Market Composite Index, a measure of mortgage loan application volume, increased 4.4 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 3 percent compared with the previous week. The Refinance Index increased 11 percent from the previous week to its highest level since March 2017. The seasonally adjusted Purchase Index decreased 1 percent from one week earlier. The unadjusted Purchase Index decreased 2 percent compared with the previous week and was 3 percent higher than the same week one year ago. For more, click here...
5/24/2017


Mortgage rates edge down
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey, showing the 30-year fixed mortgage rate remaining around 4% for the fifth consecutive week. 30-year fixed-rate mortgage (FRM) averaged 4.02% with an average 0.5 point for the week ending May 18, down from last week when it averaged 4.05%. A year ago at this time, the 30-year FRM averaged 3.58%. 15-year FRM this week averaged 3.27% 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 2.81%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.13% this week with an average 0.5 point, down from last week when it averaged 3.14%. A year ago at this time, the 5-year ARM averaged 2.80%. For more, click here...
5/18/2017


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 May 12. 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 4% compared with the previous week. The Refinance Index decreased 6% from the previous week. The seasonally adjusted Purchase Index decreased 3% 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. For more, click here...
5/17/2017


U.S. housing starts fall to five-month low
U.S. homebuilding unexpectedly fell in April to the lowest level in five months amid persistent weakness in the construction of multi-family housing units, suggesting a slowdown in the housing market recovery. Housing starts dropped 2.6% to a seasonally adjusted annual rate of 1.17 million units also as single-family homebuilding rebounded modestly, the Commerce Department said on Tuesday. April's reading was the lowest level since last November and followed a downwardly revised rate of 1.20 million units in March. For more, click here...
5/16/2017


Builder confidence continues upward trend
In a further sign that the housing market continues to strengthen, builder confidence in the market for newly-built single-family homes rose two points in May to a level of 70 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the second highest HMI reading since the downturn. “This report shows that builders’ optimism in the housing market is solidifying, even as they deal with higher building material costs and shortages of lots and labor,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. For more, click here...
5/15/2017


Canadian home sales cool in April
Home sales cooled in April after setting a record the previous month as the pace of transactions in the Greater Toronto Area slowed, the Canadian Real Estate Association said Monday. There was a 1.7% decrease in sales over the MLS system last month compared with March, said the association, which represents more than 100,000 real estate brokers, agents and salespeople in the country. For more, click here...
5/15/2017


Mortgage rates hover around 4%
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year mortgage rate hovering around 4% for the fourth consecutive week. 30-year fixed-rate mortgage (FRM) averaged 4.05% with an average 0.5 point for the week ending May 11, up from last week when it averaged 4.02%. A year ago at this time, the 30-year FRM averaged 3.57%. 15-year FRM this week averaged 3.29% with an average 0.5 point, up from last week when it averaged 3.27%. A year ago at this time, the 15-year FRM averaged 2.81%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.14% this week with an average 0.5 point, up from last week when it averaged 3.13%. A year ago, the 5-year ARM averaged 2.78%. For more, click here...
5/11/2017


New-home prices rise in Canada
Prices for new housing in Canada rose by 0.2% in March from February on gains in Toronto and Vancouver, two of the country's hottest markets in recent years, Statistics Canada data indicated on Thursday. The increase matched estimates from analysts in a Reuters poll. Compared with March 2016, prices climbed by 3.3%, largely reflecting continued strength in Toronto. For more, click here...
5/11/2017


Fannie-Freddie may provide financing for manufactured homes
Fannie Mae and Freddie Mac may soon begin to provide financing for buyers of manufactured homes, according to draft plans released on Monday. The move is part of an effort by the mortgage-finance giants to ease burdens on low-income borrowers, many of whom turn to factory-built housing as a inexpensive alternative to traditional residences. At the same time, it could also bring criticism from people concerned about the riskiness of lending for the mobile homes, which often sit on leased land and can depreciate quickly in value. For more, click here...
5/11/2017


Canadian building permits unexpectedly drop
The value of Canadian building permits unexpectedly declined in March for the second month in a row as there were fewer plans to build apartments in the provinces of Ontario and British Columbia, data from Statistics Canada showed on Tuesday. Permits fell 5.8%, far short of economists' expectations for a gain of 5.5%. The statistics agency revised February's figures down slightly to a decline of 2.8% from the initially reported decrease of 2.5%. For more, click here...
5/10/2017


Mortgage applications increase
Mortgage applications increased 2.4% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending May 5. The Market Composite Index, a measure of mortgage loan application volume, increased 2.4%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 3% from the previous week. The seasonally adjusted Purchase Index increased 2% from one week earlier to its highest level since October 2015. 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...
5/10/2017


Housing index hits milestone; permits still lag
Based on current price, permit and employment data, markets nationwide are running at an average of 100% normal economic and housing activity, according to the National Association of Home Builders/First American Leading Markets Index (LMI) released Thursday. However, individual components of the LMI are at different stages of recovery. While employment has reached 98% of normal activity and home price levels are well above normal at 150%, single-family permits are running at just 53% of normal activity. “Single-family permits have inched up slowly as builders continue to face supply-side headwinds such as ongoing price hikes in building materials, a lack of buildable lots and labor shortages,” said NAHB Chief Economist Robert Dietz. For more, click here...
5/5/2017


Mortgage rates hold steady
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates holding steady for the week. 30-year fixed-rate mortgage (FRM) averaged 4.02% with an average 0.5 point for the week ending May 4, down from last week when it averaged 4.03%. A year ago at this time, the 30-year FRM averaged 3.61%. 15-year FRM this week averaged 3.27% with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.86%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.13% this week with an average 0.5 point, up from last week when it averaged 3.12%. A year ago, the 5-year ARM averaged 2.80%. For more, click here...
5/4/2017


Mortgage applications edge lower
Mortgage applications decreased 0.1% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 28. The Market Composite Index, a measure of mortgage loan application volume, decreased 0.1% 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 5% from the previous week. The seasonally adjusted Purchase Index increased 4% from one week earlier. The unadjusted Purchase Index increased 5% compared with the previous week and was 5% higher than the same week one year ago. For more, click here...
5/3/2017


Home price index posts increase
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 March 2017, which shows home prices are up both year over year and month over month. Home prices nationwide, including distressed sales, increased year over year by 7.1% in March 2017 compared with March 2016 and increased month over month by 1.6% in March 2017 compared with February 2017, according to the CoreLogic HPI. For more, click here...
5/2/2017


U.S. construction spending slips from record high
U.S. construction spending unexpectedly fell in March from a record high amid a pause in private construction investment after five straight months of increases. The Commerce Department said on Monday construction spending slipped 0.2%. February's construction outlays were revised to show them surging 1.8% to a record $1.22 trillion instead of the previously reported 0.8% rise. For more, click here...
5/1/2017


Moody's: Builders may take 6 months to feel impact of duties
It may take homebuilders up to six months to feel the financial impact of the Trump administration’s recently announced tariff on Canadian softwood lumber imported into the U.S. Canadian lumber producers, however, don’t share the same timeline and will feel an impact immediately. Since many U.S. homebuilders lock in lumber prices months in advance, they will only have to reckon with higher prices when these forward contracts expire, according to a report from Moody’s Investors Service. For more, click here...
5/1/2017


Mortgage rates increase after weeks of decline
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates rising for the first time in five weeks. 30-year fixed-rate mortgage (FRM) averaged 4.03% with an average 0.5 point for the week ending April 27, up from last week when it averaged 3.97%. A year ago at this time, the 30-year FRM averaged 3.66%. 15-year FRM this week averaged 3.27% with an average 0.4 point, up from last week when it averaged 3.23%. A year ago at this time, the 15-year FRM averaged 2.89%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.12% this week with an average 0.4 point, up from last week when it averaged 3.10%. A year ago, the 5-year ARM averaged 2.86%. For more, click here...
4/27/2017


Pending home sales dip in March
Pending home sales in March maintained their recent high level, but momentum slackened slightly in most of the country as dearth supply weighed on activity, according to the National Association of Realtors®. Only the South saw an uptick in contract signings last month. The Pending Home Sales Index, a forward-looking indicator based on contract signings, declined 0.8% to 111.4 in March from 112.3 in February. Despite last month's decrease, the index is 0.8% above a year ago. Lawrence Yun, NAR chief economist, says sparse inventory levels caused a pullback in pending sales in March, but activity was still strong enough to be the third best in the past year. "Home shoppers are coming out in droves this spring and competing with each other for the meager amount of listings in the affordable price range," he said. For more, click here...
4/27/2017


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 April 21. 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 increased 3% compared with the previous week. The Refinance Index increased 7% from the previous week. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index increased 0.1% compared with the previous week and was 0.4% higher than the same week one year ago.
4/26/2017


U.S. home prices march higher
U.S. home prices rose more than was anticipated for the month of February, according to new data from the S&P/Case-Shiller U.S. National Home Price Index. This happened as homebuyer demand continues to outweigh supply in the housing market. The national home price index jumped 5.8% in February, while analysts were expecting home prices to climb by 5.7% for the month, according to Thomson Reuters consensus estimates. This represents the most gains in 32 months. For more, click here...
4/25/2017


New-home sales hit eight-month high
New U.S. single-family home sales surged to an eight-month high in March, pointing to underlying strength in the economy despite an apparent sharp slowdown in growth in the first quarter. The Commerce Department said on Tuesday new home sales jumped 5.8% to a seasonally adjusted annual rate of 621,000 units last month, the highest level since July 2016. For more, click here...
4/25/2017


Existing-home sales hit highest pace in 10 years
Existing-home sales took off in March to their highest pace in over 10 years, and severe supply shortages resulted in the typical home coming off the market significantly faster than in February and a year ago, according to the National Association of Realtors®. Only the West saw a decline in sales activity in March. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, ascended 4.4% to a seasonally adjusted annual rate of 5.71 million in March from a downwardly revised 5.47 million in February. March's sales pace is 5.9% above a year ago and surpassed January as the strongest month of sales since February 2007 (5.79 million). For more, click here...
4/21/2017


Mortgage rates tumble below 4 percent
Freddie Mac (OTCQB: FMCC) released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year mortgage rate dropping below four percent and hitting its lowest mark since November 2016. 30-year fixed-rate mortgage (FRM) averaged 3.97% with an average 0.5 point for the week ending April 20, down from last week when it averaged 4.08%. A year ago at this time, the 30-year FRM averaged 3.59%. 15-year FRM this week averaged 3.23% with an average 0.5 point, down from last week when it averaged 3.34%. A year ago at this time, the 15-year FRM averaged 2.85%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.10% this week with an average 0.4 point, down from last week when it averaged 3.18%. A year ago, the 5-year ARM averaged 2.81%. For more, click here...
4/21/2017


Mortgage applications decrease
Mortgage applications decreased 1.8% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending April 14. This week's results do not include an adjustment for the Good Friday holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.8% 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 0.2% from the previous week. The seasonally adjusted Purchase Index decreased 3% from one week earlier. The unadjusted Purchase Index decreased 3% compared with the previous week and was 1% lower than the same week one year ago. For more, click here...
4/19/2017


U.S. housing starts tumble; permits increase
U.S. homebuilding fell more than expected in March as the construction of single-family homes in the Midwest recorded its biggest decline in three years. However, an increase in building permits suggested the housing market recovery remained intact. Housing starts decreased 6.8% to a seasonally adjusted annual rate of 1.22 million units, the Commerce Department said on Tuesday. February's starts were revised up to a 1.30 million-unit pace from the previously reported 1.29 million rate. For more, click here...
4/18/2017


Builder confidence holds firm in April
Builder confidence in the market for newly-built single-family homes remained solid in April, falling three points to a level of 68 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) after an unusually high March reading. “Even with this month’s modest drop, builder confidence is on very firm ground, and builders are reporting strong interest among potential home buyers,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. For more, click here...
4/17/2017


Mortgage rates hit lowest mark of 2017
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year mortgage rate dropping for the fourth consecutive week and hitting a new low for 2017. 30-year fixed-rate mortgage (FRM) averaged 4.08% with an average 0.5 point for the week ending April 13, down from last week when it averaged 4.1%. A year ago at this time, the 30-year FRM averaged 3.58%. 15-year FRM this week averaged 3.34% with an average 0.5 point, down from last week when it averaged 3.36%. A year ago at this time, the 15-year FRM averaged 2.86%. 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 3.19%. A year ago, the 5-year ARM averaged 2.84%. For more, click here...
4/13/2017


Canada house price index posts record March increase
The Teranet-National Bank National Composite House Price Index – which measures monthly price increases in 11 major metropolitan markets in Canada – climbed by 0.9% in March over February, which was a record March increase. The gain is primarily attributable to four markets included in the index – Hamilton, Toronto, Victoria, and Vancouver – with Hamilton rising most quickly at 2.1% in March, and Toronto gaining 1.8%. Both cities set price gain records for March, and Toronto recorded its 14th consecutive month of price increases while Hamilton has seen prices grow for 13 straight months. For more, click here...
4/13/2017


Mortgage applications increase
Mortgage applications increased 1.5% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending April 7. The Market Composite Index, a measure of mortgage loan application volume, increased 1.5% 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 remained unchanged 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...
4/12/2017


Canadian housing starts hit highest level since September 2007
The annual pace of Canadian housing starts increased more than expected in March and hit their highest level since September 2007. The Canada Mortgage and Housing Corp. says the seasonally adjusted annual rate of housing starts for March came in at 253,720 units, up from 214,253 in February. For more, click here...
4/11/2017


Canadian building permits fall in February
The value of Canadian building permits fell in February, driven by a decrease in construction plans for single-family homes, government buildings, and elementary schools, data from Statistics Canada showed on Thursday. Permits decreased 2.5%, though January's figures were revised slightly higher to show a gain of 5.8%, from the originally reported 5.4%. For more, click here...
4/7/2017


Mortgage rates move lower
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year mortgage rate dropping for the third consecutive week and closing in on the 2017 low. 30-year fixed-rate mortgage (FRM) averaged 4.10% with an average 0.5 point for the week ending April 6, down from last week when it averaged 4.14%. A year ago at this time, the 30-year FRM averaged 3.59%. 15-year FRM this week averaged 3.36% with an average 0.5 point, down from last week when it averaged 3.39%. A year ago at this time, the 15-year FRM averaged 2.88%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.19% this week with an average 0.4 point, up from last week when it averaged 3.18%. A year ago, the 5-year ARM averaged 2.82%. For more, click here...
4/6/2017


Mortgage applications decrease
Mortgage applications decreased 1.6% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 31. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.6% 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 1% from one week earlier. The unadjusted Purchase Index increased 1% compared with the previous week and was 8% higher than the same week one year ago. For more, click here...
4/5/2017


CoreLogic Home Price Index up 7%
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 February 2017 which shows home prices are up both year over year and month over month. Home prices nationwide, including distressed sales, increased year over year by 7% in February 2017 compared with February 2016 and increased month over month by 1% in February 2017 compared with January 2017, according to the CoreLogic HPI. For more, click here...
4/4/2017


U.S. construction spending hits nearly 11-year high
U.S. developers ramped up construction spending in February to the largest amount in nearly 11 years, led by more building of homes, highways and schools. Construction spending rose 0.8% in February to the highest level since April 2006, after two months of declines, the Commerce Department said. For more, click here...
4/3/2017


Mortgage rates drop again
Mortgage rates decreased significantly for the second consecutive week as the Treasury yield remained flat. “Despite recent mortgage rate fluctuation, new home sales far exceeded expectations in February and jumped 6.1% to an annualized rate of 592,000,” Freddie Mac chief economist Sean Becketti said. The 30-year fixed-rate mortgage dropped to 4.14% for the week ending March 30. This is down from last week’s 4.23% but up from last year’s 3.71%. The 15-year FRM sank to 3.39%, down from last week’s 3.44% but still up from last year’s 2.98%. The five-year Treasury-indexed hybrid adjustable-rate mortgage decreased to 3.18%. This is down from last week’s 3.24% and up from 2.9% last year. For more, click here...
3/30/2017


Mortgage applications decrease slightly
Mortgage applications decreased 0.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 24. The Market Composite Index, a measure of mortgage loan application volume, decreased 0.8% 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 decreased 3% 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 4% higher than the same week one year ago. For more, click here...
3/29/2017


Pending home sales rebound in February
Pending home sales rebounded sharply in February to their highest level in nearly a year and second-highest level in over a decade, according to the National Association of Realtors®. All major regions saw a notable hike in contract activity last month. The Pending Home Sales Index, a forward-looking indicator based on contract signings, jumped 5.5% to 112.3 in February from 106.4 in January. Last month's index reading is 2.6% above a year ago, is the highest since last April (113.6) and the second highest since May 2006 (112.5). For more, click here...
3/29/2017


Mortgage rates drop
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates dropping after two consecutive weeks of increases. 30-year fixed-rate mortgage (FRM) averaged 4.23% with an average 0.5 point for the week ending March 23, down from last week when it averaged 4.30%. A year ago at this time, the 30-year FRM averaged 3.71%. 15-year FRM this week averaged 3.44% with an average 0.5 point, down from last week when it averaged 3.50%. A year ago at this time, the 15-year FRM averaged 2.96%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.24% this week with an average 0.4 point, down from last week when it averaged 3.28%. A year ago, the 5-year ARM averaged 2.89%. For more, click here...
3/23/2017


U.S. new-home sales climb to seven-month high
Purchases of new homes increased in February to a seven-month high, indicating the effects of the recent rise in borrowing costs on the U.S. residential real estate market have been modest. Sales rose 6.1 percent to a 592,000 annualized pace, Commerce Department data showed Thursday. The median forecast in a Bloomberg survey called for a 564,000 rate. Warmer winter weather probably played a role in boosting demand as purchases in the Midwest surged by the most since October 2012. For more, click here...
3/23/2017


Mortgage applications decrease
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 March 17. 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 2% compared with the previous week. The Refinance Index decreased 3% 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. The Government Refinance Index decreased 12% to the lowest level since December 2014. For more, click here...
3/22/2017


Existing-home sales stumble in February
After starting the year at the fastest pace in almost a decade, existing-home sales slid in February but remained above year ago levels both nationally and in all major regions, 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, retreated 3.7% to a seasonally adjusted annual rate of 5.48 million in February from 5.69 million in January. Despite last month's decline, February's sales pace is still 5.4% above a year ago. For more, click here...
3/22/2017


Mortgage rates move higher
As expected, the FOMC announced its first rate hike of 2017 and hinted at additional increases throughout the remainder of the year. Although the Freddie Mac survey was conducted prior to the Fed’s decision, the release of the February jobs report all but guaranteed a rate hike and boosted the 30-year mortgage rate 9 basis points to 4.30% this week. Increasing inflation, continued gains in the labor market and the Fed’s intentions for further rate increases—all three will keep pushing mortgage rates up this year. 30-year fixed-rate mortgage (FRM) averaged 4.30% with an average 0.5 point for the week ending March 16, up from last week when it averaged 4.21%. A year ago at this time, the 30-year FRM averaged 3.73%. 15-year FRM this week averaged 3.50% with an average 0.5 point, up from last week when it averaged 3.42%. A year ago at this time, the 15-year FRM averaged 2.99%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.28% this week with an average 0.4 point, up from last week when it averaged 3.23%. A year ago, the 5-year ARM averaged 2.93%. For more, click here...
3/16/2017


U.S. housing starts reach four-month high
Beginning construction of U.S. houses climbed to a four-month high in February, led by the strongest pace of single-family homebuilding in nearly a decade. Residential starts advanced 3% to a 1.29 million annualized rate, a Commerce Department report showed Thursday. The median forecast of economists surveyed by Bloomberg was 1.26 million. Construction of one-family dwellings rose 6.5% to an 872,000 pace, the fastest since October 2007. For more, click here...
3/16/2017


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 March 10. 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 4% compared with the previous week. The Refinance Index increased 4% from the previous week. The seasonally adjusted Purchase Index increased 2% from one week earlier. The unadjusted Purchase Index increased 3% compared with the previous week and was 6% higher than the same week one year ago. For more, click here...
3/15/2017


Builder confidence hits 12-year high
Builder confidence in the market for newly-built single-family homes jumped six points to a level of 71 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the highest reading since June 2005. “Builders are buoyed by President Trump’s actions on regulatory reform, particularly his recent executive order to rescind or revise the waters of the U.S. rule that impacts permitting,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. For more, click here...
3/15/2017


Mortgage rates hit 2017 high
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average 30-year fixed mortgage rates hitting their highest mark of 2017. 30-year fixed-rate mortgage (FRM) averaged 4.21% with an average 0.5 point for the week ending March 9, up from last week when it averaged 4.10%. A year ago at this time, the 30-year FRM averaged 3.68%. 15-year FRM this week averaged 3.42% with an average 0.5 point, up from last week when it averaged 3.32%. A year ago at this time, the 15-year FRM averaged 2.96%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.23% this week with an average 0.4 point, up from last week when it averaged 3.14%. A year ago, the 5-year ARM averaged 2.92%. For more, click here...
3/9/2017


Canadian housing starts, permits rise
Canadian housing starts inched higher in February from the previous month, and building permits rose in January as the long housing boom continued to defy expectations of a slowdown, separate reports showed on Wednesday. Groundbreaking on new homes climbed to seasonally adjusted annual pace of 210,207 units from an upwardly revised 208,934 in January as robust activity in Ontario offset cooling in British Columbia, data from the Canada Mortgage and Housing Corp showed. For more, click here...
3/8/2017


Mortgage applications increase
Mortgage applications increased 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 3. The previous week's results included an adjustment for the President's Day holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 3.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 16% compared with the previous week. The Refinance Index increased 5% from the previous week to the highest level since December 2016. The seasonally adjusted Purchase Index increased 2% from one week earlier. The unadjusted Purchase Index increased 15% compared with the previous week and was 4% higher than the same week one year ago. For more, click here...
3/8/2017


Mortgage rates break holding pattern, move lower
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates breaking their month-long plus holding pattern and moving lower. Thirty-year fixed-rate mortgage (FRM) averaged 4.10% with an average 0.5 point for the week ending March 2, down from last week when it averaged 4.16%. A year ago at this time, the 30-year FRM averaged 3.64%. 15-year FRM this week averaged 3.32% with an average 0.5 point, down from last week when it averaged 3.37%. A year ago at this time, the 15-year FRM averaged 2.94%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.14% this week with an average 0.4 point, down from last week when it averaged 3.16%. A year ago, the 5-year ARM averaged 2.84%. For more, click here...
3/2/2017


Mortgage applications increase
Mortgage applications increased 5.8% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending February 24. This week's results included an adjustment for the Presidents' Day holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 5.8% 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 increased 5% from the previous week to its highest level since December 2016. The seasonally adjusted Purchase Index increased 7% from one week earlier. The unadjusted Purchase Index decreased 1% compared with the previous week and was 5% lower than the same week one year ago, which did not include the Presidents' Day holiday. For more, click here...
3/1/2017


Select a Month
Thursday, June 22, 2017

MINI SHOPPING CART

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