Though the housing market is no longer experiencing the frenzy of a year ago, buyers are showing their interest in purchasing a home. According to U.S. News: “Housing markets have cooled slightly, but demand hasn’t disappeared, and in many places remains strong largely due to the shortage of homes

30YR Fixed 6.54% -0.01% 15YR Fixed 5.98% -0.02%   Construction Stats Improve, Multifamily Plays Leading Role It didn’t approach the levels of the “good old days” of 2020 and 2021, but construction activity did show signs of life las

30YR Fixed 6.75% +0.18% 15YR Fixed 6.22% +0.22%   Harder for Borrowers to Secure a Loan in February, Credit Availability Hits Multi-Year Lows Mortgage credit availability fell to just short of its 2012 benchmark level in February. The Mortga

30YR Fixed 7.00% -0.05% 15YR Fixed 6.45% -0.05%   Mortgage Application Volume Up Slightly, Despite Higher Rates Mortgage applications activity increased for the first time in three weeks during the period ending March 3, despite

30YR Fixed 6.99% +0.02% 15YR Fixed 6.45% +0.02%   More Charts, Fewer Words (Recapping This Month's Mortgage Monitor From Black Knight) Black Knight releases a robust collection of mortgage/housing info each month via its Mortgage Mo

  Home sellers across the US realised a profit of $112,000 on the typical sale in 2022, up 21% from $92,500 in 2021 and up 78% from $63,000 two years ago, according to a new report from ATTOM. ATTOM’s Year-End 2022 U.S. Home Sales Report found that despite a market slowdown in the second half of la

Today’s homeowners are sitting on significant equity, even as home price appreciation has eased recently. If you’re a homeowner, your net worth got a boost over the past few years thanks to rising home prices. Here’s what it means for you, even as the market moderates. How Equity Has Grown in Rece

30YR Fixed 6.97% -0.13% 15YR Fixed 6.43% -0.07%   Home Prices Continued Moderate Pace of Correction in December FHFA and S&P Case Shiller each released their monthly home price indices (HPIs) for December this morning.  These are th

After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you’re planning to purchase a home this year, you too m

30YR Fixed 6.80% +0.02% 15YR Fixed 5.95% +0.01%   New Construction Numbers Would Look Way Worse Without Multifamily It seems that most of the stories I write on home sales and construction numbers begin with a slightly different iteration o

30YR Fixed 6.75% +0.13% 15YR Fixed 5.95% +0.09%   Builder Confidence at Best Levels in Ten Years The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) shot higher in February, achieving a second mon

How Experts Can Help Close the Gap in Today’s Homeownership Rate As we celebrate Black History Month, we reflect on the past and present experiences of Black Americans. This includes the path toward investing in a home of their own. And while equitable access to housing has come a long way, homeow

The Top Reasons for Selling Your House   Caption   Many of today’s homeowners bought or refinanced their homes during the pandemic when mortgage rates were at history-making lows. Since rates doubled in 2022, some of those homeowners put their plans to move on hold, not wanting to lose the low mo

30YR Fixed 6.16% -0.01% 15YR Fixed 5.23% -0.01%   Home Prices Are Slightly Lower, But Far From Plummeting As rates spiked and sales contracted at the fastest pace in decades last year, we knew the post-pandemic surge in home prices

Lower Mortgage Rates Are Bringing Buyers Back to the Market As mortgage rates rose last year, activity in the housing market slowed down. And as a result, homes started seeing fewer offers and stayed on the market longer. That meant some homeowners decided to press pause on selling. Now, however,

New Home Sales Look Like They Want to Bounce The Census Bureau's regularly scheduled monthly report on New Home Sales was released this morning.  The annual pace of 616k was right in line with the median forecast of 617k.  This is technically an improvement, but only because the previous month was

  Spring is usually the busiest season in the New Jersey and Monmouth County housing market. Many buyers wait until then to make their move, believing it’s the best time to find a home. However, that isn’t always the case when you factor in the competition you could face with other buyers at that t

  Rates May be Falling, But Other Mortgage Costs Are Going Up Mortgage rates have fallen quite a bit since hitting a long term peak in late October. By the middle of this week, the average 30yr fixed rate was more than 1.25% lower from the highs and at the best levels in more than 4 months.

30YR Fixed 6.11% +0.07% 15YR Fixed 5.15% +0.03%   Existing Home Sales Shrink for 11th Month Existing home sales fell back for the 11th straight month in December according to the National Association of Realtors® (NAR) The mon