Diana Olick appeared on CNBC on Monday to talk about the impact of low interest rates and refinancing has had on the housing market. Watch here: How home refinancing has stagnated the housing market from CNBC.…
Americans are looking to get their move on during the 2020s. A new survey finds that 45 percent of homeowners have plans to move during the coming decade – with 16 percent saying they plan to move within their city, 15 percent heading off to a new city within their state and another 15 percent moving to a new state. An additional 22 percent of homeowners aren’t sure on of their moving plans, according to the survey of 1,552 Americans commissioned by LendingTree. What’s motivating these plans? The top three drivers were: Moving to an area with a lower cost of living (30 percent)Moving to an area with better job prospects (28 percent)Moving to be closer to their children (21…
New York Times economics reporter Conor Dougherty was on CNBC on Thursday to talk about the housing crisis – and what cities are doing to avoid problems like we’ve seen in the Bay Area. Dougherty is the author of the book Golden Gates: Fighting for Housing in America. Watch his interview here:…
Mortgage delinquencies reached a record low in January, as 2 million homeowners are past due on their mortgages or in foreclosure, according to preliminary data released Thursday by Black Knight. Delinquencies dropped by more than 5 percent last month – their lowest level since Black Knight began tracking the data in 2000. Additionally, delinquencies have plummeted 14 percent over the last year. The national foreclosure rate remains unchanged, with foreclosure starts slightly higher in January but 15 percent below January 2019 levels. Data from the monthly report showed: 3.22 percent are 30 days or more past due (but not in foreclosure).0.46 percent of loans are in foreclosure.Mississippi, Louisiana, Alabama, West Virginia and Arkansas are the top five states with the…
Housing starts fell slightly in January, while new permits jumped to a nearly 13-year high, reflecting a sustained strong housing market in the United States. Building permits in January increased by 9.2 percent above the revised December rate of 1,420,000 – and was 17.9 percent above the January 2019 rate, according to a monthly report released by the Census Bureau and the Department of Housing and Urban Development. Housing starts in January were at a seasonally adjusted rate of 1,567,000 – or 3.6 percent below the revised December rate but still 21.4 percent above the January 2019 rate. “The latest month’s decline in housing starts is nothing to be concerned about,” said Lawrence Yun, chief economist for the National Association of Realtors.…
Mortgage applications fell by 6.4 percent last week, though remain higher than a year ago at the same time, the Mortgage Bankers Association announced Wednesday. Highlights from the weekly report include: The Market Composite Index, a measure of mortgage loan application volume, decreased 6.4 percent on a seasonally adjusted basis from one week earlier.On an unadjusted basis, the Index decreased 5 percent compared with the previous week.The Refinance Index decreased 8 percent from the previous week and was 165 percent higher than the same week one year ago.The seasonally adjusted Purchase Index decreased 3 percent from one week earlier.The unadjusted Purchase Index increased 2 percent compared with the previous week and was 10 percent higher than the same week one year ago. …
Reflecting a strong market and low interest rates, builder confidence in the housing market remained high though slightly lower this month, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released Tuesday. Builder confidence dropped a point in February to 74, a
number reflects nearly historically high confidence in the housing market. “Steady job growth, rising wages and low interest rates are
fueling demand but builders are still grappling with increasing construction
and development costs,” NAHB Chairman Dean Mon said in a news
release. The NAHB/Wells Fargo HMI measures builder perceptions of
current single-family home sales and expectations for sales over the next six
months as “good,” “fair” or “poor.” Any number over 50 indicates that…
Want to make money on your house? How long should you hold
on to it? What regions in the United States are most conducive to building
value? The National Association of Realtors released a
study this month that seeks to answer those questions by looking at
historical data to determine whether homeowners are more likely to experience a
home price gain or loss during the period when they hold a home. In short, all regions of the United States – the Northeast,
Midwest, South and West – saw home values increase when they held onto their
homes over seven, eight, nine and 10-year periods between 1989 and 2019. The
findings include: The average price appreciation of a
single-family home ranged…
Home prices continue to rise across the country. That’s according to the latest
quarterly report from the National Association of Realtors, which found
that single-family home prices increased in 170 of 180 metropolitan areas and
the media single-family home price climbed 6.6 percent from the fourth quarter
in 2018. Specifically, the report found: The national median existing single-home price
was $274,900 in the fourth quarter of 2019 (up from $258,000 a year earlier).At the end of 2019, 1.4 million existing homes
were available for sale – 8.5 percent less than at the end of 2018.The average supply during the fourth quarter was
three and half months, down from four months in the 2018. This number refers to
how long it…
