A weekly update of housing market supply, demand, and prices.
The weekly average mortgage rate has ticked down to its lowest level in over 10 months. But home-sale prices are still rising, and pending home sales are up just 1.6% from a year ago. The weekly average mortgage rate has ticked down to 6.56%, the lowest level in nearly a year. Declining mortgage rates have […]
Cheaper Mortgage Payments Bring a Trickle, Not a Surge, of Homebuying Demand Read More »
Declining mortgage rates have pushed monthly payments down to their lowest level since the start of the year, leading to a modest improvement in demand. But Redfin agents report that many prospective buyers are waiting for rates to drop lower before making a move. The weekly average mortgage rate is sitting at 6.58%, its lowest
Pending Home Sales Rise 2% As Mortgage Rates Sit At Lowest Level in 10 Months Read More »
Monthly payments are falling primarily because mortgage rates have dipped to a 10-month low. But home sales are still lackluster, declining slightly from a year ago. The typical homebuyer’s monthly mortgage payment is $2,614, the lowest level since January and down $224 from May’s all-time high. Housing payments are falling mainly because mortgage rates are
Mortgage Rates Drop to 10-Month Low, Pushing Down Monthly Housing Payments Read More »
The median monthly mortgage payment fell to a seven-month low of $2,631 during the four weeks ending August 10, down more than $200 from its May peak of $2,846. Last week marked the 12th consecutive week that monthly payments either dropped or stayed flat. Monthly payments are becoming more affordable because mortgage rates are at
Redfin economists say serious homebuyers have a window of opportunity to lock in a mortgage rate, as rates could fluctuate as more economic data is released in the coming weeks. House hunters got some relief this week as the daily average mortgage rate dropped to its lowest level in nearly a year after a softer-than-expected
Prices are declining in certain places as the supply of homes for sale outpaces demand, with high costs and economic uncertainty sidelining would-be buyers. The median home-sale price fell in 14 of the 50 most populous U.S. metro areas this week. Oakland, CA saw the biggest drop, with a 6.8% year-over-year decline, followed by two
