Mortgage rates were basically stagnant last week, staying put in the upper-6% range yet again. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.82%, up just slightly from the week prior’s 6.79%. A year ago at this time, the 30-year FRM averaged 6.28%. The 15-year fixed rate also fell from 6.11%…
Mortgage applications slipped again as rates stayed put in the high 6%s, keeping affordability at the forefront of buyers’ minds. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — decreased by 0.6%, following the week prior’s 0.7% slip. Adjusted purchase applications slipped…
Inventory and rate pressures are creating conditions for a “quieter” spring homebuying season. That’s according to HouseCanary’s March Market Pulse Report, which found that while inventory is up 12.6% YOY, total stock remains historically low. In March, net new listings slipped 4.4% YOY. For the entire last 52 weeks, net new listings were down 12.4%….
Ally Home and HouseCanary are offering a $5,000 grant to homebuyers in three major metros. The grant can be used for a down payment, closing costs, or other expenses that arise during the homebuying process. Buyers within select markets in Charlotte, Detroit, and Philadelphia are eligible, though Ally may expand the program in the future….
Listings are down more than 15% from last year, another pain point on the market ahead of the typically zippy spring buying season. HouseCanary’s February Market Pulse Report found that net new listings were 15.3% lower than in February 2023. Overall, inventory is up 11.7% YOY but remains generally constrained, limiting new activity. This is…
Both listings and sales improved in December, suggesting the impact of cooling rates may finally be encouraging movement in the market. That’s according to HouseCanary’s December Market Pulse Report, which found new listings up 5% YOY last month. Though stock remains historically low and many buyers are still priced out of the market, the data…
Listings took a hit in July, but both listed and closed prices saw positive YOY growth, according to new data from HouseCanary. The company’s latest Market Pulse report found that net new listings dwindled in July, down 40.3% YOY. The number of properties that went under contract also fell by 13.4% from the same time last…
Net new listings and contract volume have officially declined for twelve straight months, according to new data from HouseCanary. HouseCanary’s latest Market Pulse report, which covers 22 listing-derived metrics and compares data between April 2022 and April 2023, shows market activity was significantly hindered in the first month of Q2. “As we enter May 2023,…
New listings continue to trend down as rate lock-in and affordability concerns keep homeowners stuck in their current living situation. HouseCanary’s latest Market Pulse report found that net new listings fell by double digits for the tenth straight month in February. The report, which analyzed twenty-two metrics pulled from listing information between February 2022 and…
Home price drops are up more than 95% from last year as the market cooldown continues into fall, according to HouseCanary’s latest Market Pulse report. The report compares data between August 2021 and August 2022 and is an ongoing review of insights from HouseCanary’s platform. The data shows that the monthly nationwide supply continues shrinking…
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