Mortgage Rates Dip Slightly, Sparking Buyer Interest Borrowing costs have reached their lowest point in over a month. The average rate for a 30-year fixed mortgage dropped to 6.69% this week, down from 6.81% the week before, according to Freddie Mac’s Thursday report. This marks the lowest average in more than a month and has […]
Home Buyers Rebound as Contract Signings Surge in Fall September saw a notable increase in home purchase contract signings, signaling a potential recovery in the housing market following a sluggish summer. The National Association of REALTORS® (NAR) reported a 7.4% rise in its Pending Home Sales Index from August, with a 2.6% increase compared to […]
Mortgage Rates Dip to 6.08%-the Lowest in Two Years: ‘Buzz in the Market’ In the week ending Sept. 26, mortgage rates saw a slight decrease, moving from 6.09% to 6.08% for a 30-year fixed-rate loan, according to data from Freddie Mac. “While the drop is minimal, the 30-year fixed-rate mortgage has now reached its lowest […]
Many Cities Post Record High Home Prices in 2nd Quarter Nearly 90% of major metros across the U.S. registered home price gains in the second quarter, the National Association of REALTORS® reported Tuesday. Homeowners are feeling richer, but home buyers are digging deeper into their pocketbooks to afford a property. “The record high home prices […]
Contract Signings Rise as More Listings Hit the Market This summer, home buyers have more choices, while sellers face stiffer competition. Pending home sales rose nearly 5% in June, with all major U.S. regions posting gains, according to the National Association of REALTORS®. NAR Chief Economist Lawrence Yun observes, “The rise in housing inventory is […]
Home Buyer Opportunities Appear to be Opening Up While there have been some fluctuations from month to month, economists remain optimistic about the housing market for the rest of this year and into the next. Lawrence Yun, a leading economist, notes that “The first half of the year did not meet expectations regarding home sales […]
Mortgage Rates Curtail Home Sales, Yet Prices Surge Existing-home sales fell last month as mortgage rates eclipsed 7% and home prices continued to rise. But some market segments are showing resilience: High-end home sales-listings at $1 million and above-posted significant gains in April, increasing 40% compared to a year ago, according to the National Association […]
Housing Market Predictions For 2024: When Will Home Prices Be Affordable Again? Elevated mortgage rates, out-of-reach home prices and record-low housing stock are the perennial weeds that experts say hopeful home buyers can expect to contend with this spring-and beyond. “The housing market is likely to continue to face the dual affordability constraints of high […]
Santa Monica Marked as a Priority Amid Statewide Housing Development Goals The City of Santa Monica became one of 37 California localities designated by Gov. Newsom as “Prohousing”, making it a funding and resource priority during a statewide acceleration effort of housing development. Read more… smmiror.com Real estate expert warns ‘no signs’ housing affordability will […]
The housing market just saw its biggest inventory spike in nearly 3 years The frozen US housing market is showing some signs of loosening this month. In the four weeks to February 25, new listings of US homes for sale surged 12.9% compared to the same time a year ago, hitting 79,354, according to data from […]
